Lack of overview impacted efficiency and cash flow
Before partnering with Fenerum, Pingo Documents faced several challenges. Pingo provides a range of subscription-based software solutions for the legal industry, saving lawyers significant time and hassle while ensuring consistent and accurate quality—every time. These solutions include an innovative KYC subscription service, automated legal templates, and an electronic signature solution.
Niels Grove Jensen, CEO at Pingo ApS.
Pingo faced a critical challenge: the lack of real-time insight into revenue and payments. This meant the company often spent unnecessary time and resources on manual administration and risked overlooking important billing tasks. This impacted the company's cash flow and ability to focus on core business activities.
We lacked an overview of our revenue and key metrics like MRR and ARR. Additionally, we continuously spent too much time on administration related to invoicing, bookkeeping, and payments.
says Niels Grove Jensen, CEO at Pingo Documents. The company used a different system before Fenerum, which could not address these challenges. Therefore, they decided to look for a Danish solution that could automate their subscription management and financial processes.
Scalable and flexible setup
For Pingo Documents, Fenerum was the right choice for several reasons. First and foremost, they could save money, and the pricing model allowed them to start inexpensively and scale up as the business grew. Moreover, Fenerum provided the necessary overview of their subscriptions and revenue, which they lacked. Last but not least, Fenerum consolidated their invoicing in one place. This way, everything was automated consistently, regardless of whether customers wanted to pay via bank transfer, card, or direct debit.
Fenerum was the right choice because it provided a flexible billing model that suited our growth, while also consolidating all invoices in one place. This gave us better oversight and a fully automated process, regardless of how customers wanted to pay.
Pingo Documents quickly got started with Fenerum, and the migration from their existing setup proceeded swiftly and effectively. Fenerum’s team guided Pingo Documents step-by-step and was always quick to assist if needed.
The onboarding worked seamlessly with step-by-step help from Fenerum, so it was resolved without hassle. The system is easy and intuitive to use, and the support has always been quick whenever we've needed help.
The migration of existing data was completed quickly and without complications, resulting in minimal disruption to daily operations. Fenerum's team ensured that the implementation went smoothly.
Significantly reduced administrative resources
With Fenerum, Pingo Documents no longer needs to worry about manual tasks like invoicing, accounts receivable management, and bookkeeping. Every month, Fenerum ensures that all subscriptions are billed correctly, payments are automatically recorded, and accruals are handled efficiently. Furthermore, Pingo Documents now has real-time insight into their MRR, ARR, churn, and much more.
We no longer need to worry about invoicing all customers, whether it's done correctly, or if anyone misses a payment. Everything runs automatically in Fenerum.
This has significantly reduced Pingo Documents' administrative resource usage, both in terms of board reporting and customer management, where even their smaller customers are now profitable because they no longer drown in administrative costs.
Fenerum ensures every month that we send all invoices at the right time with the correct amounts, making even smaller customers good customers since we don’t get bogged down in administrative costs.
A management tool for future growth
For Pingo Documents, Fenerum is not just a subscription management tool but a management resource that has provided them with the necessary overview and insight to focus on future growth and development. Fenerum has become a central part of their subscription business, helping them appear professional and flexible to their customers in terms of frequency and payment options.
Fenerum is a central part of our future growth and development. Automation and intuitiveness combined with good and friendly customer service are the key elements.
About Pingo Documents
Pingo Documents was founded in 2019 by a group of lawyers with extensive experience in case management and law firm operations. Pingo Documents aims to save time and simplify everyday tasks for lawyers while ensuring high and consistent document quality—every time. This is achieved through compliance software that assists with onboarding new cases, including conflict checks, risk assessments, KYC, legal document templates/paradigms, electronic signatures, and various financial and tax calculators. Over time, accountants and other advisors have also joined their customer base.
Learn more at: www.pingodocs.dk and their LinkedIn.
