Venn Accounts cuts overdue invoices 60% with Trove

Venn Accounts has introduced debtor management software Trove across its finance service built on Xero, after an internal trial cut overdue invoices by 60%.

The UK accounting firm has expanded beyond compliance work to run broader finance operations for clients, including payroll, supplier payments, cash flow management and credit control. The shift reflects demand from founders who want support with day-to-day financial administration rather than year-end filing alone.

James Ripley, Chief Executive of Venn Accounts, said the firm has built its client service around Xero and the broader software tools that integrate with it. He said that approach allows the business to tailor finance processes for companies facing rapid changes in staffing, markets and operating conditions.

"Running a business in 2026 is more complex than ever, from supply chain disruption to regulatory pressure and rising employment costs. Most founders don't want to take on financial risk themselves. They want a partner they can rely on to take that off their plate," Ripley said.

Venn Accounts has repositioned itself to take on more of the finance function for clients, covering operational tasks that many smaller or growing businesses do not want to manage in-house.

"We've moved beyond delivering compliance and now take ownership of the entire finance function. That includes payroll, supplier payments, cash flow management and credit control. To deliver this consistently at scale, we build our service around best-in-class software," he said.

Software stack

Xero remains the core accounting platform in that setup. Around it, Venn Accounts adds software chosen for each client rather than using a standard configuration across all accounts.

"We work with high-growth businesses where change is constant: new hires, new markets, new challenges. In that environment, a one-size-fits-all finance setup quickly breaks down. Xero's ecosystem allows us to build a tailored tech stack around each client, rather than forcing them into a generic solution," Ripley said.

The latest addition is Trove, a tool designed to automate the collection of overdue invoices. Venn Accounts first adopted the software internally before installing it for clients, in line with its usual practice of testing new products on its own processes.

The trial focused on late payments caused by failed direct debits or unpaid bank transfer invoices. Trove sent follow-up messages automatically from the firm's finance email account, reducing the need for staff to chase payments manually.

Within two weeks of implementation, overdue invoices fell by 60%. The firm also reported a 22% improvement in Days Sales Outstanding, a common measure of how quickly businesses collect payments after invoicing customers.

Venn Accounts said the results have continued beyond the initial trial period. It said 98% of invoices are now paid within two weeks of the due date, while the remaining 2% are flagged as exceptions for manual follow-up.

According to Ripley, the search for a debtor management tool was prompted by one client who wanted a system capable of pursuing payment without creating friction in customer relationships.

"One of our clients was struggling with overdue invoices, and that's a sensitive issue that needs handling carefully. We needed a solution that was effective, but also aligned with how we and our clients communicate with customers," he said.

Changing role

The wider backdrop is a change in what smaller businesses expect from their accountants. Venn Accounts cited survey data showing 68% of small businesses said their accountant made them more productive, suggesting demand is moving beyond compliance and tax work towards more operational advice and support.

For firms such as Venn Accounts, this creates an opening to offer outsourced finance functions rather than narrower accounting assignments. The use of software to automate invoicing, credit control and payment follow-up forms part of that broader shift.

Ripley said this operating model has changed the relationship between the firm and its clients.

"This is where we add the most value, embedding ourselves into the client's day-to-day operations and improving how their finance function actually runs," he said. "It's a fundamentally different model to traditional year-end compliance work."