Electronic Invoice with Automated Collections Follow up
What is Electronic Invoice with Automated Collections Follow up?
A combination of Electronic Invoice Delivery with Automated Payment Follow up maximizes the possibility of receiving payment in the shortest time possible. It sends reminders, always automatically choosing the channel with the best efficiency/cost ratio.
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Objectives
- Send the electronic invoice document to the client.
- Reduce collection costs by using delivery channel sequences in order of best cost-efficiency ratio.
- Identify the most effective delivery channel for each customer.
- Automated follow-up and reminder messages N days before payment is due.
- Automated follow-up and reminder message on the exact day the payment is due in case the customer has not paid yet.
- Automated follow-up and payment reminder message N days after the payment is due in case the customer has still not paid.
Solution
Automated flow through alternative cross digital channels that guarantees invoice delivery, automates cost efficiency, and makes follow-up reminders of payment dates with an email a few days before the due date. On the due day of the invoice, if it is still marked as unpaid in the database, a payment reminder is automatically sent, including an immediate online payment option. Finally, in case the client is delinquent for more than a certain number of days, a periodic automatic call can be made until the invoice is paid.
Customization
- Integration with specialized functionalities coordinated with the bank’s development departments.
- Texts of alerts and communications.
- Combination of cross-channel digital channels according to the needs of email, SMS, push, mobile application, automated call or any other digital channel that the organization has available.
Implementation time
- 1 to 2 weeks
Prerequisites
- DANAconnect Advanced account
Cross Channel Strategy
Automation can be configured to send on the most convenient channel based on customer preferences or historical behavior. When there is no email registered in the database or in case the email has bounced in the past, the system will send through an alternative channel, such as SMS. You can also configure the automation to switch to other alternative channels:
- Rich SMS
- Automated call for alert + Email for sending the invoice
- Push
- Any channel through API
