Case Study: October reduces overdue payments with Kolleno

October reduces overdue payments by 40% with Kolleno

October, an online marketplace for business loans, was facing challenges managing its accounts receivable due to rapid growth. The company struggled with late payments from borrowers, which negatively impacted cash flow and consumed excessive operational time. To address this, October implemented Kolleno's accounts receivable management solution.

By using Kolleno's platform, which included a customer payment portal and robust reporting tools, October streamlined its invoicing and payment processes. This partnership resulted in a 40% reduction in overdue payments within six months and a 32% decrease in median days late. The time spent on accounts receivable management also dropped by 35%, allowing October to refocus on its core lending services and support future growth.

October