Reducing Time to Collect Recurring Accounts Receivables by 70%
OneEleven is Canada’s largest scaleup innovation hub for post-seed tech startup companies. They are focused on helping Canada’s most promising, high-growth startups, commercialize their technologies and scale their operations.
As one of the leading accelerators in Canada, OneEleven is expanding rapidly. With over 30 portfolio companies already, collecting rent and incidental fees each month became increasingly difficult. “As we have many startups to collect membership fees from, tracking and collecting payments by cheque/wire was time consuming and caused many issues.” explains Melissa Heeney, Operations Coordinator.
Looking For A Solution
A better solution has to be simple, fast and easy to use for an evolving membership since companies are entering or graduating from the hub on a regular basis.
Before Plooto, collecting payments or scheduling them was a drawn out process, stretched over a number of days. It easily saves me 2-3 hours a week and the time to collect on our accounts receivables has been reduced by 70%.
One of the goals here at OneEleven is to create a seamless work environment where our startups’ only focus is scaling their companies. Plooto takes the frustration and time it takes to complete payments, off their plate – leaving them more time to focus on what matters."