How Lean Technologies Saved 70+ Finance Hours & Cuts DSO by 30%

About Lean Technologies

Lean Technologies operates as an Open Banking Platform serving Banks and Fintechs across MENA, regulated by Abu Dhabi Global Market and Saudi Central Bank. Their API infrastructure facilitates secure financial data access and payment initiation, supported by a billing model combining monthly subscriptions and transaction fees. In 2022, Lean Technologies secured $33 million in Series A funding led by Sequoia Capital.

Key Results

• 30% DSO Reduction — Reduction in Days Sales Outstanding
• 70+ Hours Saved — Monthly hours saved
• $2,500 Cost Savings — Monthly savings

Manual follow-ups were slowing down Lean Technology's productivity

• Lack of direct payment links in follow-up emails
• Managing invoice collections across UAE and KSA posed logistical challenges
• Inability of the ERP system to customize follow-ups for individual customers
• No calculation of late payment fees and manual reconciliation processes

With a team of 3 individuals, manual accounts receivable (AR) processes became time-consuming, lacking customized follow-ups, and resulting in increased Days Sales Outstanding (DSO). These inefficiencies, coupled with a lack of transparency, caused the team to lose focus on prioritized tasks.

OCTA meets Lean Technologies' unique AR needs

Fully customizable automated workflows, including Arabic follow-ups

The ability to create fully customizable automated workflows, including Arabic follow-ups, has been a game changer for Lean Technologies. OCTA's automation has saved significant time by handling routine follow-ups, allowing them to tailor communication to each customer segment.

In-built support for late fees

OCTA's support for automatic late fee applications has simplified what was once a manual and time consuming process. Setting up late payment fees now takes just a couple of clicks and ensures that late fees are consistently and accurately applied.

A/R analytics and customer scoring

With OCTA's advanced A/R analytics and customer scoring, Lean Technologies gained deep insights into their accounts receivable health. They can now prioritize collection efforts based on customer payment behavior and invoice amounts.

Multi-entity support

OCTA's multi-entity capabilities have enabled Lean Technologies to seamlessly manage their accounts receivable processes across multiple countries. By unifying and streamlining the handling of invoices for both UAE and KSA operations.

Region-specific payment options

OCTA's integration with region-specific payment options like MamoPay for UAE and Tap Payments for KSA has made it easier for Lean Technologies to cater to local customer preferences.

Wafeq x OCTA: Seamless auto-sync

Integrating Wafeq with OCTA was a straightforward and quick process for Lean Technologies. The entire integration took just a couple of minutes. Data sync happens automatically every day, meaning no manual intervention is required to keep accounts receivable data up-to-date.

What Lean Technologies Says

As a rapidly expanding Open Banking Platform, Lean Technologies faced significant challenges with manual invoice follow-ups. OCTA streamlined our AR processes, automating workflows and improving payment efficiency.

— Nabil, VP Finance - Lean Technologies

Choosing OCTA over developing an internal solution was a clear win. It offered immediate deployment, cost-effectiveness, and comprehensive features tailored to our regional needs.

— Nabil, VP Finance - Lean Technologies