EPI turned to Kolleno’s accounts receivable management solution to streamline their invoicing process
79%
37%
67%
We had a delightful chat with Jonathan Zafrani, General Manager at EPI Fire Protection and Security, discussing their approach to overcoming financial challenges, maintaining strong client relationships, and tackling the daily hurdles faced in the fire alarm and security services industry.
EPI Fire Protection and Security is a leading provider of quality fire alarm and security services to clients across the Greater Toronto Area. With a proud tradition of excellence, EPI offers top-notch fire protection and security solutions tailored to customers’ specific needs, offering them peace of mind and safeguarding their assets. However, due to the ensuing continuous growth they have experienced, EPI has also faced some administrative challenges.
As EPI’s business expanded, they faced the mounting challenges of accounts receivable. Managing overdue invoices, chasing unresponsive clients, and the administrative strain of handling a growing volume of payments started to undermine their operational efficiency.
Seeking a solution, EPI turned to Kolleno, selecting it for the vast functionality of its workflows and ability to automatically reconcile payments.
Specifically, by integrating with EPI’s existing system and tools, Kolleno accessed their real-time data, consolidating it into a centralised format that is readily actionable. Then by combining live data access with Kolleno’s trigger-based workflows and automated reconciliation, EPI was able to significantly reduce repetitive collection tasks, save time, and transform their operations.
Following the implementation of Kolleno, EPI achieved a remarkable 79% reduction in their 90+ days overdue balance within the initial 3 months. Furthermore, they realised a 37% decrease in the number of overdue invoices and a substantial 67% reduction in median days late during the same timeframe.
This unlocked their cash flow and allowed the company to invest in new service offerings and employee development. In addition to the enhanced collections, EPI was also able to redirect the time previously dedicated to manual collections towards providing exceptional fire protection and security services to their clients.
Kolleno has been pivotal to EPI’s financial operations, enabling the company to efficiently manage their accounts receivable and significantly enhance their cash flow. By streamlining operations, EPI has been able to focus on providing top-quality fire protection and security services, laying a solid foundation for future growth and expansion.
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