KRB Lawyers leverages Kolleno’s accounts receivable solution to streamline their collections
We had an insightful conversation with Lubov Senyk, VP of Finance at KRB Lawyers and Thierry Cavallie, Collections Manager at KRB Lawyers, discussing their strategies for managing their finances, achieving efficiency within a finance team, and overcoming challenges in the legal industry.
KRB Lawyers is a prominent full-service business law firm in Canada, establishing itself as a leader in the legal industry. Recognised nationally as one of the fastest-growing companies across all sectors in 2022, KRB Lawyers is renowned for its expertise in commercial, transactional, real estate, and finance law. However, as the firm expanded, it encountered common challenges faced by growing law firms, including maintaining visibility and effectively managing collections for overdue payments across its various divisions.
As a growing company, KRB Lawyers found it increasingly tedious and costly to monitor and pursue overdue payments. Thus, centralising communications with clients and reducing past due amounts became a top priority.
In search of a solution, KRB selected Kolleno due to its seamless integration with Clio, tangible results, and user-friendly interface. The platform offered streamlined credit control processes and a centralised source of information for the firm’s finance team. Through communication timelines, automated collection sequences, and reporting features, Kolleno provided the team with clear visibility and enabled them to significantly reduce their overdue balance. Lubov added, “Partnering with Kolleno empowered the team to efficiently and proactively manage our receivables.”
The implementation of Kolleno played a pivotal role in enhancing KRB’s efficiency and reducing overdue amounts. With Kolleno, KRB reduced their median days late by 33%. Additionally, the platform’s automated communication sequences and templates saved the finance team an average of 10 hours per week. Thierry Cavallie reflected, “Kolleno enables me to achieve outstanding results more efficiently.”
The implementation of Kolleno at KRB has transformed their approach to accounts receivable management. With Kolleno, they streamlined client communications and internal processes, achieving greater efficiency. As a result, they can now redirect their efforts toward their core strength—delivering top-tier legal services.