Do your customers pay on time? Do you spend more than 1/2 a day a week collecting payments from delinquent accounts? When you call for payment do your customers pay by Credit Card? Would you like to automate your accounts receivables?
The Process to Automating Your AR Collections
First, you want to take a look at your Aged Receivables. Do you have many customers past due over 30 days? Over 60 days? Over 90 days? Do you have a system or process to collect the funds?
Point is, most small businesses don't have the time to effectively manage their Aged Receivables. A lot of the time, small business owners don't focus on collecting payments until a cash crunch hits - like pay roll.
So, we need to build a system to communicate to your customers in a organized and systematic way to show that you are: 1.
on the ball and 2.
coming for your money. How do we do this, you ask? Easy.
Automated Multi-Step Email Collection Campaign
We create a 5 part email campaign to send to your Delinquent Accounts.
- Email 1, is polite reminding them to pay their bill
- Email 2, questions their delay in payment
- Email 3, The language is "Concerned" and requests payment again
- Email 4, The language is stern and demands payment now
- Email 5, Notifies the customer hat their account has gone to collections.
- After the last email is sent we set up a "WorkFlow notification to automatically email the AR manager and the collections department about the Delinquent account.
The wording is customizable in the template. In that, you can say what you want, but you will need to say the same message to every customer in the same time frame.