J2 Group was founded in January 2019. The consultancy specialises in providing highly personalised B2B lead generation services to some of the world’s biggest brands including, Microsoft, Nike, Samsung, Mercedes & LinkedIn as well as us GoCardless!
While it’s driving new leads and sales activities for these global household names, how does J2 Group ensure its cash flow remains seamless and consistent?
Our team speaks to Jesse Kelly, Managing Director of J2 Group, to find out more.
Overhauling an archaic payment model
As is common practice for many consulting firms, J2 Group’s income stream is reliant on the payment of monthly retainers from its clients. Like many businesses, their manual invoicing system presented a number of challenges – of which, cash flow issues and resourcing constraints were the most significant.
After having been referred to GoCardless by one of its own customers, J2 Group embarked on a journey to transform its payments systems. Jesse explains:
“GoCardless was referred to us by a client and we’ve never looked back. After implementing GoCardless, we immediately experienced the value it added to our business – significantly improving cash flow and saving us tens of hours a month on manual processing.”
Taking the headache out of collecting recurring payments
Around half of J2 Group’s customers now process their payments through GoCardless and the positive impact is abundantly clear. Jesse confirms that GoCardless customers experience zero payment issues and/or delays while the remainder of its client base – those who are not on GoCardless – experience around a 30-60% rate of late payment:
“The use of bank-to-bank direct debit, particularly through the GoCardless platform, is mutually beneficial for us and our clients."
"The automation it affords means that neither us nor our clients have to grapple with hours of manual invoice processing each month and automated payments mean cash flow runs smoothly on both ends.”
The positive impact has led J2 Group to begin exploring ways to incentivise a shift to direct debit for new and existing clients.
Optimising visibility over cash flow
In addition to improvements in cash flow, saving on manual processes and customer experience, J2 Group has experienced an unexpected delight from its GoCardless implementation – optimising visibility over its cash flow to enhance forecasting and cash projection.
Jesse reflects on how the GoCardless dashboard has supported the firm’s accounting team:
“Our accounting team has found the GoCardless dashboard to be super intuitive and, not to mention, useful. We’ve tapped into these cutting edge features to obtain visualisations that help us to forecast our business income seamlessly.”