Briffa: Enhancing Cash Flow and Streamlining AR Processes with Kolleno
We had an engaging discussion with William Odeji, Accounts Manager at Briffa, about tackling financial challenges, cultivating strong client relationships, and overcoming daily hurdles in the dynamic world of intellectual property and IT law.
Briffa is a leading law firm specialising in all aspects of intellectual property and IT law. They provide services to clients in a wide range of industry sectors, including technology, music, fashion, food and drink, health and well-being, media, telecoms, and product design. Briffa’s team of expert attorneys is dedicated to protecting and enforcing their clients’ intellectual property rights, ensuring they have the support needed to thrive in their respective industries.
As Briffa’s client base expanded, so did the complexities of managing their accounts receivable. The firm faced challenges with late payments and unresponsive clients, which in turn affected their cash flow and limited their ability to invest in business growth and staff development. Additionally, the time-consuming process of tracking and reconciling invoices took valuable time away from focusing on their core legal services.
Briffa turned to Kolleno’s accounts receivable management solution to help them streamline their invoicing and payment processes. By implementing the customer payment portal, clients could easily access invoices and make payments, while the template creation feature allowed Briffa to design customised invoices tailored to their specific legal services. Kolleno’s advanced reporting tools provided Briffa with valuable insights into clients’ payment patterns, enabling the firm to proactively address any issues and improve cash flow management.
With the help of Kolleno, Briffa experienced a 40% reduction in late payments within the first six months. This led to a 25% improvement in cash flow stability, allowing the firm to invest in new service offerings and staff training. The time spent on managing accounts receivable decreased by 30%, enabling Briffa to focus on delivering exceptional intellectual property and IT law services to their clients.
Briffa’s partnership with Kolleno has been a resounding success, enabling the firm to efficiently manage their accounts receivable and significantly improve their cash flow. By streamlining payment processes and gaining valuable insights into client payment behaviours, Briffa has been able to focus on providing top-quality legal services to their clients. The positive impact on cash flow and time management has not only contributed to the ongoing success of the firm but has also paved the way for future growth and expansion.