Auto Reminders for Billing
Beyond Paper Invoices
Using Email and Online Services to Improve your Billings
Statistically between 10% and 20% of monthly billings are not paid in a timely fashion. If you use paper invoicing you have several choices. One is to add a fee to the monthly invoice the next time they are mailed and another is to send a reminder notice through US Mail. This is costly on all fronts and since the volume is much smaller than the original mailing, the in-house cost per mailer is even higher.
If you use email, auto reminders can be set up for automatic transmission. As the Biller you can set reminders to be sent any number of days after the initial invoice was sent. The biller controls the wording of the reminder notice and takes into consideration that the payer may have sent in their payment and it is still in the mail stream. The great thing is that it happens automatically. Not only can you set the number of days for a reminder notice you can also set the trigger “Did they view their invoice?” or “Did they pay their invoice?”.
East to Setup Online Tools Improve Billing
In order to view or pay a statement, the payer needs to click the link on the email they received. To pay their invoice they would then click “Pay”. These two actions (Viewing and Paying) by the payer are recorded and when the set reminder period is up email reminders will be sent based on either simply NOT viewing their invoice or NOT paying their invoice online.
Once this is set up it will happen on a invoicing by invoicing basis. There is no need to set up any specific condition with each recurring invoicing period unless you have specific changes in mind.
Add auto reminders to your collections toolbox.