Dry Patrol: Case Study
Restoration Company Gets Payment Cycle Down to 17 Days
Before Dry Patrol of Central Ohio (a water damage restoration company) partnered with Levelset, their average DSO (days sales outstanding, or payment collection time) was around 90 days. After they started using Levelset to protect their lien rights, their average DSO lowered to 17 days– a payment collection time that is almost unheard of among restoration contractors.
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The History
Bryan Daughtry, the owner of Dry Patrol, often struggled to collect payment from his customers’ insurance companies. In cases where Dry Patrol didn’t receive payment, Bryan would have to file a lien, which meant going to a local courthouse, dealing with the auditors’ office, and generally wasting time. Additionally, Bryan was filing liens as a reactionary way of protecting payments, which negatively impacted customer relationships. Bryan knew that something needed to change, so he partnered with Levelset.
The Changes
Today, Dry Patrol sends a preliminary notice to the property owner and insurance adjustor on every job where they aren’t paid upfront. All Brian has to do is enter the customer’s information as a project in Levelset. After that, the notice is automatically sent out to the correct people. By consistently sending formal notices, Dry Patrol appears more professional to the insurance adjusters, and their payments are prioritized over other insurance claims.
When the adjusters get this communication from us or from Levelset, they quickly see that Dry Patrol of Central Ohio is handling this differently than 95% of the other restoration companies. [They think], ‘We need to deal with this situation differently than we’re dealing with all these [other] situations because they’re not playing any games over here.’
Bryan Daughtry, Owner of Dry Patrol of Central Ohio
The results
The Solutions
Lien Rights Management
Our cloud-based, lien rights management platform allows you to seamlessly protect lien rights, track deadlines, file paperwork, and ultimately ensure payment on every job.
- Send your notices and lien waivers in bulk
- Receive alerts about upcoming paperwork deadlines
- Track all documents in a centralized, online location
The biggest difference is our outstanding AR cycle — the lifecycle probably being anywhere from 60 to 90 days down to 17 days now. I can’t emphasize that 17-day cycle enough and the power and value of it. I’m not aware of any other restoration companies who are being paid in that quick of a fashion.
Bryan Daughtry, Owner of Dry Patrol of Central Ohio
