Tag Archive: "Collections"
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Are You Maximizing the Value of Your Software? Building an Effective Collections Process
Sending an invoice out of new accounting software is a significant milestone of a successful go-live. The time spent during implementation crafting an invoice template and learning how to batch email invoices to customers has certainly paid dividends in time saved on processes. Now that you’ve gained this efficiency, you wonder if perhaps you could dedicate time to reimagining the collections process. After all, it is crucial that your customers make payments on time. The importance of a steady income stream is never more visible than when satisfying your business’s obligations. Without a steady stream of income, the effects could trickle down according to Fundbox in the following ways:
23% of businesses are not able to hire new employees
23% cannot invest in new equipment
20% can’t spend on marketing
18% hold back on pay increases or bonuses for employeesWhile cash flow is important, the collections process is a delicate balance between collecting on delinquent accounts and not irritating customers.
Let’s take a look at how we might be able to leverage the new (and free) Sage Intacct dunning notice functionality by delicately incorporating it into the collections process.
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Custom Application: Expired Credit Cards Customer Payment Manager
Intacct’s subscription business model has become increasingly popular and successful with both customers and businesses alike. For customers, the ease of signing up, always having the service you require, and low hassle really makes it ideal.