Founded in 2012, Pontera empowers individuals to achieve greater wealth and financial security in retirement. Headquartered in New York City, the company serves thousands of advisors, including some of the largest RIAs and Broker-Dealer firms across the country.
- Automated invoicing: Generate invoices automatically based on predefined rules and data feeds.
- Customizable email & invoice templates: Design and personalize email templates for invoices and communication.
- Payment tracking and reconciliation: Integrate with payment gateways and automatically sync payment status.
- Revenue recognition: Automate journal entries in NetSuite systems based on billing and payments.
- Reporting and analytics: Gain insights into billing performance and customer behavior.
Problem with manual processes
Pontera, with over 1500 customers, was bogged down by a manual invoicing nightmare. Every quarter, creating and sending individual invoices meant tedious data entry, email attachments. This wasn't just inefficient; it was a time-consuming black hole, swallowing weeks of their billing cycle.
Their reliance on Stripe data for payment status left them flying blind. Reconciling payment data against each invoice was a manual slog, making it time taking and error prone to accurately , receivables.
The manual follow-up process was a broken record on repeat. After sending invoices, they'd wait a few days, then manually chase payments, rinse and repeat until everyone paid. This personalized approach, while well-intentioned, was a productivity killer.
Pontera's manual invoicing system was inefficient and missed payments. It was time-consuming, lacked visibility, and hindered their ability to track financials effectively. The team was in search of a tool to support them. They needed a flexible, customizable platform that could fit into their existing stack.
Zenskar transformed Pontera's billing process with comprehensive automation and integration:
Zenskar eliminated manual data entry by ingesting customer information, contract details, and billing amounts directly from Pontera's systems. Invoices were automatically created based on payment methods and taxes calculated by Avalara, ensuring accuracy and efficiency. The team crafted personalized email templates with attachments, streamlining invoice delivery and payment reminders. Real-time visibility and automated reminders prevented missed payments and improved cash flow.
Pontera billed 500+ customers in just two days with Zenskar, compared to weeks before. A massive improvement over the weeks-long manual process.This freed up valuable time and resources.
Zenskar automatically created journal entries in NetSuite, aligning with revenue recognition and accelerating financial reporting.
Zenskar now acts as the central hub for automating accounts receivables. Finance teams at Pontera are able to send invoice, collect payments, track invoice status - all in one place, eliminating discrepancies and manual reconciliation.
Real-time data gave Pontera a clear understanding of their revenue, receivables, and credit liabilities, empowering informed decision-making. Manual reconciliation became a thing of the past, saving time and ensuring accuracy.
Impact and Outcomes:
- 5 weeks faster closing: Billing cycles are completed within hours, saving significant time and effort.
- 500+ customers billed in days: Previously requiring weeks, rapid billing improves efficiency and cash flow.
- $12,000/month saved: Automation eliminates manual work, freeing up resources and reducing costs.
- 1 click = >$5M:Streamlined processes and accurate data improve financial transparency and control resulting in collection of >$5M from customers with a single button click error free.
Why Pontera Chose Zenskar:
Pontera wasn't just looking for any software; they needed a perfect partner. Enter Zenskar, with its combination of features and dedication:
- Zenskar's ability to seamlessly integrate with Stripe for payments and NetSuite for accounting was a game-changer. No more juggling data between disparate systems.
- Automatic data transfer eliminated manual entry errors and ensured consistency across platforms.
Unmatched Customer Support:
- From the pilot stage to go-live, a dedicated customer support team was there every step of the way.
- The Zenskar team truly grasped Pontera's challenges and provided solutions tailored to their needs.
- Feeling like an extension of Pontera's internal billing team, Zenskar offered personalized support and collaboration.
- A designated Point of Contact ensured smooth communication and addressed all queries promptly.
- A team of engineers focused on fulfilling Pontera's specific requirements, building custom integrations and features.
- Zenskar actively built customized workflows based on Pontera's preferences, ensuring a perfect fit.
In conclusion, Zenskar wasn't just software for Pontera; it was a collaborative solution that addressed their unique challenges, provided seamless integration, and offered exceptional support. With a dedicated team and a commitment to customization, Zenskar became an extension of Pontera's billing team, paving the way for a streamlined and efficient process.