Masur Griffitts Avidor accelerated payments with Kolleno accounts receivables management solution
We recently spoke with Juan Brea, COO at Masur Griffitts Avidor LLP (MGA), to learn more about their strategies for addressing financial challenges, building strong client relationships, and overcoming daily obstacles in the dynamic legal landscape.”
Masur Griffitts Avidor LLP is a boutique law firm based in NYC and LA, servicing founders, investors, and emerging companies. MGA specialises in advising on corporate, intellectual property, venture financing, mergers and acquisitions, and related contract work matters. With a team of dedicated legal professionals, MGA provides tailored legal solutions to help clients navigate the complexities of their industries.
As MGA’s clientele expanded, the firm faced increasing challenges in managing their accounts receivable. Late payments and unresponsive clients disrupted their cash flow, impeding their ability to invest in business growth and employee development. Additionally, the time spent on tracking and reconciling invoices detracted from their focus on providing exceptional legal services.
MGA implemented Kolleno’s accounts receivable management solution to streamline their invoicing and payment processes. The customer payment portal allowed clients to easily access invoices and make payments, while the template creation feature enabled MGA to design customised invoices for their diverse legal services. Kolleno’s comprehensive reporting tools provided valuable insights into client payment behaviours, empowering MGA to address issues proactively and improve cash flow management.
After adopting Kolleno, MGA experienced a 43% decrease in overdue payments within the first six months, as well as a 26% decrease in median days late. This allowed the firm to invest in new service offerings and staff development. The time spent managing accounts receivable was reduced by 34%, enabling the team to focus their efforts on delivering high-quality legal services and nurturing client relationships.
MGA’s 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, MGA 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.