Colleen

Overview

Colleen is an AI platform specifically focused on automating and optimizing the accounts receivable (AR) process. It leverages artificial intelligence to manage payment reminders and communications with customers, aiming to significantly reduce manual effort and accelerate payment collection times.

The tool integrates with existing ERP and accounting systems to pull invoice data and then uses AI to determine the best communication strategy (timing, channel, tone) for sending payment reminders. Colleen engages customers through personalized emails and messages, answers common payment-related questions, and guides them towards making payments, often through integrated payment portals. Its unique value proposition lies in its ability to mimic human-like interaction in collections communication while operating at scale, freeing up finance teams to focus on more strategic tasks.

By automating routine follow-ups and providing data-driven insights into payment behaviors, Colleen helps businesses improve their Days Sales Outstanding (DSO), enhance cash flow predictability, and maintain positive customer relationships even during the collections process.

Key Features

• AI-Powered Payment Reminders: Automated, intelligent scheduling and sending of collection communications.
• Personalized Customer Communication: AI tailors message tone and content based on customer history and payment behavior.
• ERP & Accounting Software Integration: Connects with systems like NetSuite, QuickBooks, Sage Intacct, etc.
• Payment Portal Integration: Facilitates payments through integrations with providers like Stripe and Plaid.
• Automated Customer Responses: AI handles common customer inquiries regarding invoices and payments.
• Real-time Reporting & Analytics: Provides insights into AR performance, payment trends, and collection effectiveness.
• Reduced DSO: Aims to significantly shorten the payment cycle.
• Human-in-the-loop Option: Allows AR teams to review or intervene in communications when needed.
• Multi-Channel Communication: Engages customers via email and potentially other channels.

Supported Platforms

• Web Browser
• API Access

Integrations

• NetSuite
• QuickBooks
• Sage Intacct
• Xero
• Stripe
• Plaid
• Other ERP/Accounting Systems (via API/integration)

Use Cases

• Automating the accounts receivable follow-up process.
• Reducing Days Sales Outstanding (DSO) for businesses.
• Improving cash flow management and predictability.
• Scaling collections efforts without increasing headcount.
• Providing consistent and professional payment reminder communication.

Target Audience

• Finance Teams
• Accounts Receivable (AR) Specialists/Managers
• CFOs
• Controllers
• Mid-market to Enterprise Businesses

How Colleen Compares to Other AI Tools

Awards & Recognition

• Will Reed Top 50 Seed Stage Companies To Work For (2023)

Popularity Rank

Presence on G2 and Capterra with user reviews, but specific market share rank not readily available.

Roadmap & Upcoming Features

~2021-2022 (Based on company founding date)

Information not publicly available (Likely ongoing updates)

User Reviews