One spine from quote to cash — the value, the conversion, the days, and the leakage at every handoff. Where deals turn into delivered work, invoices, and collected cash (and where they get stuck).
$3M is leaking or stuck across the 185-day quote-to-cash cycle — the largest single pool is $1M at Collect. Close the billing lag and aged book to pull cash forward without selling a thing.
6 of 6 headline metrics improving vs prior · still off target: Revenue $60M vs $65M, DSO 13d vs 11d, Cash Conversion Cycle 7d vs 5d
Move to credit hold pending paydown; reforecast ARR net of likely churn.
Distress filings + overdue AR; churn risk High on $6.4M account.
Gates the cohort cutover (and the exit).
Sets deal capacity and refinancing risk.
Aged AR >60d — cash delivered & billed but not collected — pure working capital sitting in the cycle, not a sales problem.
The order-to-cash cycle for the project business, end to end. A quote becomes a booking, a booking becomes delivered work, delivered work becomes an invoice, and an invoice becomes cash — 185 days from quote to cash, with $3M leaking or stuck across the handoffs. Each stage links to the 360 that owns it and the records to work. (Recurring PX/ON-X revenue bills automatically and collects faster — this is the project lane.)
Value flowing through each stage, the conversion from the prior stage, days in-stage, and the leakage at the handoff.
The biggest levers are delivery (project duration) and collection (DSO) — the order handoff is instant; billing lag is the quiet one.
Each leak quantified, owned, and linked to the 360 and the records that fix it — the working-capital recovery list.
Discount leakage — standalone estimators discount 18% vs 12% governed CPQ
Unbilled WIP — delivered work not yet invoiced (billing lag)
Read this: the two biggest pools are $19M aged AR (collect) and $12M unbilled WIP (bill) — both pure working capital. Closing the billing lag and the aged book pulls ~$31M of cash forward without selling a thing.
Value, conversion, days, leakage and owner — drill to the owning 360.