Case Study:
Clear Channel

Find out how we helped when The Clear Channel international team identified that Clear Channel France’s invoice to cash process was failing.

Background

Clear Channel International is part of the world’s leading Out of Home media and infrastructure companies. Clear Channel Outdoor Holdings spans over 28 markets with more than 500,000 advertising panels and 5,800+ dedicated employees. Clear Channel vision was to build their business beyond the traditional billboard marketing.

Through their investment in data-driven digital innovations, their goal is to build an infrastructure that connects people, actively enhances the environment, and plays a positive part in everyone’s lives.

In 2022 Clear Channel International Ltd made the decision to sell its French operation, Clear Channel, France. A mix of poor processes and company culture had led to the company under performing and requiring ongoing financial support from the parent company to remain solvent.

To minimise the need for further investment prior to the sale and, if possible, recoup any of their investment to date, the Clear Channel International finance team stepped in to oversee the business.

The problem

The Clear Channel international team identified that one of the issues was that Clear Channel France’s invoice to cash process was failing.

Although billings exceeded over €30 million per month, with most of the revenue coming from key accounts such as advertising agencies, they were only collecting around €1.8 million of the €12m billed to lower value, high volume accounts.

A combination of poor data and poor processes was leaving over 85% of this revenue uncollected and had led to an ongoing cash fow crisis.

The solution

In February 2023, Clear Channel International engaged 4D Contact to deliver a white-labelled collection service. The remit was to tackle the low end, high volume, French customers, in French and substantially improve cash collection.

In order to maximise the potential returns, the work would be a combination of credit-control and debt collection of various untouched ledgers. The strategy being to improve cash fow and prevent further debt build up through effective credit-control and to simultaneously chip away at the debt burden.

Due to poor customer onboarding processes, the data was of mixed quality often requiring enrichment prior to proceeding with collection activity.

Results

  • 500% increase in cash collected
  • From a standing start 4D collected €9 million per month from a placement of €12 million versus €1.8 million collected by Clear
    Channel France historically
  • Total contribution back to business in 10 months of engagement of €90 million
  • 10 months after the engagement of 4D Contact, Clear Channel International successfully sold Clear Channel France

Our client says

I’ve worked with 4D Contact for over a decade. Whenever Clear Channel International have a challenge within our cash collection process, they are our go to partner. From ongoing white-labelled credit-control support to international debt recovery, they have consistently delivered a high quality, service that optmises results.

Kieron Welford

Director Credit Collection

Clear Channel International

4D Contact have proven an invaluable partner on our journey to resolve the cash collection process issues in Clear Channel’s subsidiary in France. They demonstrated that with the right systems, people and processes in place what could be achieved in terms of cash collection for the business. Despite being bought in by head ofce, they integrated seamlessly with the local team - no small achievement and one which was critical to ensuring the success of the project.

Kieron Welford

Director Credit Collection

Clear Channel International

Case Study | Clear Channel

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