VAT Compliance Improves Collections and Financial Operations with Kolleno

About VAT IT Compliance

VAT Compliance is a premier provider of international VAT compliance services with over 20 years of experience. Their expertise spans VAT registration, compliance, filings, and consulting. However, with a growing global client network spanning nearly 50 countries, manually managing communications and collections quickly became administratively inefficient and costly. 

We had a fascinating discussion with Jonathan Long, Head of Finance at VAT Compliance, and Emelda Chani and Simphiwe Thabethe, Accounts Receivable Specialists at VAT Compliance. They shared insights into the complexities of handling international tax, building strong relationships with clients across various industries, and overcoming the daily challenges of running a global, service-oriented company.

Challenges

As their client network expanded, VAT Compliance faced a surge in overdue payments and administrative tasks. Valuable time was being consumed chasing outstanding fees and tracking communications, diverting focus away from optimising processes. “The team spent countless hours drafting communications, tracking payments, and despite our efforts, there was still a limit to how many customers we could reach out to within a month, given our capacity.” reflected Jonathan Long, Head of Finance of VAT Compliance.

Seeking a solution to their challenges, VAT Compliance chose Kolleno for their simple integration with their ERP, Sage, and the vast functionality of the platform. 

Solution

Kolleno automates communications, reconciliation, and reporting, whilst also providing timelines of customer history and smart task reminders. These features greatly reduced the finance team’s manual workload, and enabled them to have a good overview of the financial position of the company.

Jonathan noted “Kolleno has improved our collections by detecting and solving issues in our processes with their analytics tool and improved communication with clients. By maintaining consistent communication with every client, we not only identify issues but also foster stronger client relationships, boosting our results.”  

Results

With Kolleno, VAT Compliance streamlined their collection process, unlocking their cashflow and enhancing their operational efficiency.

Simphiwe Thabethe, an Accounts Receivable Specialist at VAT Compliance, highlighted, “Kolleno’s consistent communication and reminders have significantly improved payment consistency. Our overdue balance has reduced by 44% since we implemented Kolleno into our collection process.” Jonathan added, “Beyond enhancing collections, it has streamlined our team’s workload and gives them direction on how to structure their day, allowing them to no longer spend time on mundane repetitive tasks, and instead focus on strategic tasks, increasing overall productivity.”

Introducing Kolleno at VAT Compliance transformed their collections, customer communication, and overall accounts receivable management strategies. This shift allowed them to focus on their core expertise: delivering exceptional VAT compliance services.