How Rentsync Slashed Bad Debt by 50% With Kolleno

When you are busy revolutionizing an industry, the last thing you want is to be held back by financial bottlenecks. For Rentsync, the Toronto-based leader in rental marketing technology, this was precisely the challenge they faced. 

Their platform had become indispensable to property managers across North America, powering everything from marketing automation to resident management for over 1,700,000 units. 

Yet behind the scenes, their accounts receivable process was creating cash flow constraints that threatened to slow their ambitious growth trajectory. With decentralized communications and escalating DSO, Rentsync needed a financial management solution as innovative as their own technology. 

Kolleno’s accounts receivable platform offered exactly that.

Rentsync’s client base tripled in three years, and its collections process didn’t scale with it. Days Sales Outstanding stretched past 70 days, tying up cash the company needed for product development and growth. “Our DSO had grown to more than 70 days, which was creating real pressure on our working capital,” says Leena Lukka, CFO at Rentsync. “As an innovative technology company, we needed that capital to invest in product development and growth initiatives, but it was increasingly tied up in unpaid invoices.” As more invoices aged past 90 days, the finance team had to keep raising bad debt provisions, making it harder to forecast anything with confidence.

Communication was just as scattered. Follow-ups lived in individual inboxes, so when someone left the company, their conversation history with a client often left with them. “We had no centralized system for tracking client interactions,” Lukka says. “If a team member who had been handling collections for a particular account left the company, we often lost the thread of those communications.” Multiple people sometimes chased the same client for the same invoice without knowing it, while the finance team spent hours each week just keeping up with reminders and spreadsheets by hand. For a company built on helping other businesses run more efficiently, the irony wasn’t lost on them.

Rentsync needed one system that combined automation, visibility, and a real Xero connection, not a patchwork of fixes. “The Kolleno team was impressive and responsive, while the platform spoke for itself,” says Lukka. “We felt like we were not only gaining a powerful tool, but also genuine partners who would help our business grow.” Once connected, invoices, payments, and client data started syncing both ways automatically, and payments got matched to the right invoice the moment they came in. “The Xero integration has been a game-changer for us,” Lukka says. “We no longer need to manually update records or cross-reference information between systems. Everything syncs automatically, giving us complete confidence in our financial data.”

Reminders, follow-ups, and thank-you messages now go out on predefined triggers instead of someone remembering to send them, with the system escalating automatically as an account ages so overdue clients get the right amount of attention, not too little or too much. “Before Kolleno, our follow-up process was entirely manual and often inconsistent,” Lukka says. “Now, every client receives appropriate reminders at the right time, without our team having to remember to send them.” The workflows also adjust based on how a client has responded in the past, so the approach adapts per account instead of treating everyone the same.

Every email, note, payment promise, and dispute now lives on one customer timeline the whole finance team can see, so a client relationship survives a staff change instead of resetting to zero. “Having all our client payment communications in one place has been invaluable,” Lukka says. “It ensures that anyone on our team can pick up a client relationship seamlessly, with full context of previous interactions.” Kolleno also prioritizes accounts automatically by value, age, and risk, so the team always knows what needs attention that day. “Kolleno has put organization back into our AR processes,” Lukka says. “Our team knows exactly what needs to be done each day.”

Bad debt allowance is down 50%. Days Sales Outstanding has fallen 29%. And collections within 30 days of an invoice going overdue are up 1.6 times.

The finance team used to spend hours a week manually tracking invoices, writing individual follow-up emails, and updating records across systems. Now automated workflows handle the routine communication, the Xero sync keeps both systems accurate without anyone reconciling by hand, and the team spends that reclaimed time on the strategic work that actually grows the business.