Case Studies

  • THIS IS HOW WE...

Get difficult done.

Cadex was born from the legacies of companies extending back to 1929 who share a passion for delivering outstanding results for their commercial clients. Cadex employs more than 800 team members working across five continents so that we can support clients with customers in all industries across 200+ global jurisdictions.

Cadex makes it easier for businesses to manage all facets of the O2C process by providing better tools, better reach, and better guidance. Developing solutions alongside you, we can reduce the complexities of your company’s unique order-to-cash lifecycle. Our featured case studies illustrate how we get difficult done.

Global SaaS Company

This third-party collections client places an average of 500 accounts monthly, valued at ~$5M. They consistently have delinquency challenges with APAC customers. Learn how we identified the root cause and devised solutions to reduce both customer inquiries and accounts sent to collections.

Aerospace Conglomerate

This third-party client’s procedural gaps created financial risk, leading to a high volume of overdue receivables and poor customer experiences. Learn how we devised predictive workflows to improve the overall liquidation rate to 91%, significantly reducing DSO and restoring customer satisfaction.

Sanitation Equipment Firm

More than 50% of this client’s receivables were aged 90+ days. They were losing revenue and customers due to inconsistent pricing and billing practices. Learn how our solutions positively impacted CX by refining the client’s internal A/R management procedures, increasing cash flow, and reducing risk.

About Cadex

Cadex Solutions Corporation is a holding company formed by Trivest Partners LP to build the premier provider of commercial order-to-cash management solutions. Cadex’s first acquisition was AG Adjustments in March 2019, which is exclusively focused on third-party commercial debt recovery. Cadex subsequently acquired TranSubro, an insurance subrogation company, in October 2021, and D&S Global Solutions, a technology-enabled, international order-to-cash services provider in February 2022. In June 2023, Cadex acquired ABC-Amega and DAL, both leaders in the commercial accounts receivable management industry. The Company has approximately 800 employees serving over 1,000 clients across all industries from locations including the United States, Colombia, Brazil, Romania, Italy, India, Singapore, and South Africa.

About Cadex

Cadex Solutions Corporation is a holding company formed by Trivest to build the premier provider of commercial order-to-cash management solutions. Cadex’s first acquisition was AG Adjustments in March 2019, which is exclusively focused on third party commercial debt recovery. Cadex subsequently acquired TranSubro, an insurance subrogation company, in October 2021, and D&S Global Solutions, a technology-enabled, international order-to-cash services provider in February 2022. In June, 2023, Cadex acquired ABC-Amega and DAL, both leaders within the commercial accounts receivable management industry. The Company has approximately 800 employees serving over 1,000 clients across all industries from locations including the United States, Colombia, Brazil, Romania, Italy, India, Singapore, and South Africa.

Who is Trivest?

Trivest Partners LP, with offices in Miami, Charlotte, Chicago, Los Angeles, Philadelphia, and Toronto, is a private investment firm that focuses exclusively on the support and growth of founder-led and family-owned businesses in the United States and Canada in both control and non-control transactions. Since its founding in 1981, Trivest has completed more than 400 investments, totaling over $7 billion in value. Trivest is one of only 15 firms recognized by Inc. Magazine as one of the top-founder-friendly private equity firms in both 2019, 2020 and 2021. To learn more, visit www.trivest.com.

Any currency. Any language. Anywhere.

At Cadex, we’ve strategically mapped our regional coverage to maximize results and performance, and to address languages, cultures, and time zones. Our off-site network and proprietary technology allow unlimited scalability for all business needs.

Custom Solutions

Only Cadex brings this unique combination of better tools, better reach, and better guidance to every solution.

Better Tools

Technology
Powerful,
proprietary tech stack

Better Reach

Global
170+ countries,
five continents

Better Guidance

Experience
95+ years
industry expertise
SEE SOLUTIONS

Because reconciliation should be easier than it sounds.

get difficult done

Better Tools

Technology
Powerful,
proprietary tech stack

Better Reach

Global
170+ countries,
five continents

Better Guidance

Experience
20+ years
industry expertise
SEE SOLUTIONS

Custom Solutions

Only Cadex brings this unique combination of better tools, better reach, and better guidance to every solution.

Better Tools

Technology
Powerful,
proprietary tech stack

Better Reach

Global
170+ countries,
five continents

Better Guidance

Experience
20+ years
industry expertise
SEE SOLUTIONS
  • Chief People Officer

Shannon Martinson

Shannon joined Cadex Solutions in October 2023 as Chief People Officer. She is responsible for transforming Human Resources into a strategic, global department to support the company’s continued growth. Shannon brings over 20 years of progressive HR experience to Cadex through working in both private and public sectors, which includes executive coaching, building highly effective teams, assisting with global M&A activities, and ensuring adherence to legal and compliance standards.

Shannon began her career with ING Investments, where she quickly advanced to leading an HR team. At ING, she created a staffing needs model, coordinated office closures and moves, and provided global M&A support. Shannon served Endurance International Group as a global HR leader, where she held a pivotal role in the company’s growth from 750 employees to over 1,200 employees in less than a year. When Endurance International Group was acquired, Shannon supported leadership with communication and transitional activities.

Shannon attended Arizona State University, where she earned a BA in Business Communication and a BA in French, after completing her studies in Lille, France. She resides in Scottsdale, Arizona, with her husband and their two dogs. They enjoy scuba diving, hiking, watching football, and spending time with friends and family.

  • Chief Revenue Officer

Neil Rae

Neil has more than 25 years of experience within the business process outsourcing industry with a focus on customer experience, contact center, and digital transformation solutions. He joined Cadex in March 2024 and is responsible for directing the company’s growth organization, which includes sales, marketing, and client experience. He oversees the functional leadership of each department to develop and execute Cadex’s go-to-market strategies and its plans for continued growth.

Most recently, Neil was with VXI Global Solutions, LLC, a global leader in technology-enabled customer experience, where he was responsible for strategic consulting engagements and customer experience roadmap development for some of the world’s most respected brands. He served VXI in successive roles as chief client officer, chief revenue officer, and chief digital officer. Prior to joining the VXI, Neil held several executive positions at Hinduja Global Services and at Transcom Worldwide, where he oversaw and implemented a turnaround strategy for a $150M region of the publicly-traded company.

A proud Torontonian, Neil has a strong passion for humanity, specifically in the areas of impact sourcing, DEI&B, and in supporting non-profit organizations. When he’s not growing the bottom line of global companies, Neil enjoys golfing and traveling because (in his own words) he’s too old for playing hockey. Neil earned a Bachelor of Arts degree from the University of Guelph in Ontario, Canada.

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  • Chief Financial Officer

Robert M. States

A CPA with more than 35 years of financial services experience, Bob oversees multiple areas of Cadex’s finance and accounting functions, in addition to corporate planning resources. He works with the company’s executive team and the leadership of its family of brands to assess and improve financial and operational performance throughout the organization.

Bob joined Cadex in June 2023 upon the company’s acquisition of ABC-Amega, Inc., where he has been serving as Chief Financial Officer since 2011. Bob is a former CFO for Liazon Corporation, a Buffalo-based provider of online health insurance services, and Chief Operating Officer for COPC Inc., a leading authority on customer contact center and vendor management operations. He was issued a patent in 2012 (US 8,219,420).

Bob was named to Business First’s 2019 list of C-Level Executives, which recognizes Western New York’s most effective business leaders. He began his career in finance as an accountant for industry leader KPMG. He holds an MBA in Finance and Accounting from St. Bonaventure University; and serves on the Board of Directors for SABAH (Spirited Athletes Bold at Heart) as Treasurer.

Residing in East Amherst, NY with his wife Stephanie, Bob is an avid runner, having completed three marathons and six half marathons. For several years, he and his wife have volunteered and served on the board for Brother’s Keeper Outreach, a Western New York food pantry and clothing ministry, where Bob also held the role of Chairperson from 2020 – 2023.

  • Chief Operating Officer

Riley Pentecost

Riley joined Cadex’s leadership team in April 2021. With more than 30 years of accounts receivable management experience, Riley oversees global operations for Cadex’s family of brands.  

Most recently, Riley served as the Global Vice President of Operations for Alorica, which was previously part of the West Corporation (known as West Asset Management). Riley’s work history in accounts receivable management and cost containment includes exposure to several niche industries, including telecommunications, healthcare, and insurance. His ARM tenure spans both first- and third-party receivable management services across many industries worldwide. He is well-versed in leveraging proprietary technology tools and data to improve clients’ business processes and cash flow through both on- and off-shore solutions.

Riley began his career as a collections representative and progressed through roles in training, collections management, portfolio and operational strategy, and management operations. When he’s not working to improve DSO for commercial businesses around the world, you can find Riley proudly waving his “Terrible Towel” while cheering on his beloved Pittsburgh Steelers. Riley resides in Omaha, NE with his family. As Disney aficionados, you may frequently spot them in “The House of the Mouse.” 

  • Chief Information Officer

Seth Carter

As CIO for Cadex, Seth provides the vision for the company’s digital transformation strategy while managing the technology products and service-delivery architecture. His passion for the last 15 years has been applying machine learning and behavioral sciences-based prediction models to software products in financial settings.

Before joining Cadex, Seth was the co-founder and Chief Scientist of Altisource Labs, where he designed, built, and managed recovery optimization modeling engines, workflow platforms, and contact strategy for a global network of accounts receivable and mortgage servicing associates. Before transitioning into the corporate sector, Seth spent ten years as a professor and researcher of consumer behavior, statistics, and negotiation techniques. He authored multiple research articles and developed a patent integrating behavioral sciences techniques and statistical modeling into collections strategy.

Seth earned a PhD and MS in Social Psychology from the University of North Carolina at Chapel Hill and a Bachelor of Science in Psychology from High Point University. He resides in Winston-Salem, NC with his wife, Jessie, and their children. His passions outside of work include playing electric guitar to lead worship at church, building things in his workshop, and cooking for his family. When he turns his back in the kitchen, the family’s counter-cruising golden retrievers may serve as his uninvited taste-testers.


  • Chief Executive Officer

John Fisher

John serves and was appointed as Chief Executive Officer of Cadex (formerly known as BII Services Corporation) in February 2021. He is responsible for overseeing the company’s long-term vision, strategy, and corporate growth objectives. John brings more than 25 years of experience in operations strategy, financial and business development, and leadership to this role.

Prior to Cadex, John served as President of Altisource Portfolio Solutions’ financial services division, which was focused on accounts receivable management, customer relationship management, and BPO services. John’s previous work experience includes time as Senior Vice President for 1st Party Services for West Asset Management, Managing Director for Triton Management Services, a private equity consulting practice, Director, Business Development for Broadpoint, a media and e-commerce company, and finance roles at Procter & Gamble.

John earned an MBA from Cornell University and a Bachelor of Arts in Economics from St. John Fisher College. He currently resides in Long Island, NY with his wife, Jeannie. When he’s not making privately-owned companies stronger, John enjoys the occasional round of golf, ski biking, and traveling with his wife.

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