DML Attorneys Embrace Digital Transformation in AR Management with Kolleno
We had a fascinating conversation with Ryan Dingley, Director at Dingley Marshall Lewin Law, about navigating financial challenges, building strong client relationships, and overcoming daily obstacles in their niche legal practice.
Dingley Marshall Lewin Law (DML Attorneys) is a niche law firm with a focus on commercial and technology law. They also have strong civil litigation, commercial property, conveyancing, estates, wills, and trust units. With a team of dedicated legal experts, DML Attorneys offers tailored legal solutions to clients in various industry sectors, helping them navigate the complexities of their businesses and personal affairs.
As DML Attorneys’ client base grew, so did the intricacies of managing their accounts receivable. The firm grappled with late payments and unresponsive clients, which hampered their cash flow and hindered their ability to invest in business growth and staff development. Moreover, the laborious process of tracking and reconciling invoices detracted from the team’s capacity to focus on their core legal services.
DML Attorneys decided to implement Kolleno’s accounts receivable management solution to streamline their invoicing and payment processes. The customer payment portal enabled clients to effortlessly access their invoices and make payments, while the template creation feature allowed DML Attorneys to design customised invoices that catered to their specific legal services. Kolleno’s comprehensive reporting tools provided DML Attorneys with valuable insights into their clients’ payment behaviours, empowering the firm to address issues proactively and improve cash flow management.
After introducing Kolleno, DML Attorneys saw a 51% decrease in overdue payments within the first five months. This improvement led to a 19% increase in cash flow stability, allowing the firm to invest in new service offerings and staff development. The time spent on managing accounts receivable was reduced by 30%, enabling the team to refocus their efforts on delivering high-quality legal services and nurturing client relationships.
DML Attorneys’ collaboration with Kolleno has been a transformative experience, enabling the firm to effectively manage their accounts receivable and substantially improve their cash flow. By streamlining payment processes and gaining valuable insights through the platform, DML Attorneys has been able to concentrate on what they do best – providing outstanding legal services to their clients. The positive impact on their cash flow and time management has not only contributed to the continued success of their practice but has also set the stage for future growth and expansion.