NowSecure streamlines collections—reduces overdue invoice rate by 84% in just one year.
NowSecure helps their customers deliver secure mobile apps with continuous, automated mobile security testing. With NowSecure, organizations are mobilizing faster than ever before.
With Maxio, NowSecure is increasing internal efficiency and growing faster than ever before too.
NowSecure used to spend too much time on manual processes.
Before adding new heads to his department, Colin Schwendy, former Controller at NowSecure, was on the lookout for ways to make his current team more efficient. That’s why he chose Maxio.
Implementing Maxio’s Advanced A/R Management module saved his team hours previously spent on invoicing
Maxio’s Cadences and Intelligent Dunning significantly reduced NowSecure’s DSO
Maxio gave NowSecure the same output as two extra team members
A team equipped to scale
As Controller at NowSecure, Colin’s typical day involves managing his team of two and overseeing the AR, AP, and payroll functions. Since his start five years ago, Colin has been focused on creating efficient processes to equip his team as NowSecure scales rapidly.
Maxio has incredible reporting capabilities that allow me as a manager to quickly get a feel for how our collections efforts are going. Our overdue invoice rate dropped from 18.9% to just 2.6%.
Colin Schwendt, NowSecure
Former Controller at NowSecure
Breaking up with manual processes
Maxio strives to equip growing companies with the tools they need to scale. In 2021, Maxio introduced Advanced A/R Management, an advanced workflow that allows customers to manage and measure the effectiveness of their A/R Management processes.
Before rolling out Maxio’s Advanced A/R Management, everything with our invoicing process was manual. It took a lot of time, focus, and energy to complete.
Overdue invoice rate dropped from 18.9% to 2.6%
Cadences and dunning with Maxio has probably been the most helpful feature we’ve been using.
Colin’s team utilizes Cadences and Dunning in Maxio to enhance their collections communications with personalized, automated messages that can be sent in custom time frames. Gone are the days of keeping up with collections in a spreadsheet, sending out one-off emails, and covering your desk in Post-It note reminders.
Maxio also has some incredible reporting capabilities that allow me as a manager to quickly get a feel for how our collections efforts are going.
Using Maxio, our overdue invoice rate dropped from 18.9% to just 2.6%
Maxio is equivalent to two extra team members
Without Maxio in place, Colin claims he would need to have at least one to two additional team members on his team to manually complete the tasks that have been automated away.
Maxio has really given me as a manager the confidence to know that the things my team are doing on a day-to-day basis are 100% accurate and correct.
With Maxio, Colin and team are equipped to manage their growing transactions with confidence as NowSecure continues to scale.