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It is important that you adjust the method you choose to fit your customer. The integration allows users to add payment links to their dunning workflows, thus ensuring customers can pay easily, quickly and securely, thus reducing your DSO. You can use the solution independently or integrated with our debtor management solution, CreditManager. Only in the second stage you opt for a registered letter or email, a telephone call or an automatic voice message or a combination of several of those. We work closely with our partner Order2Cash to bring you our invoicing solution. There is a metric to define that amount of time and it’s called Days Sales Outstanding (DSO). Therefore, best practice when dunning is to make your first invoice payment reminder rather friendly. The point I’m trying to make is that it takes a surprisingly long amount of time to collect from people that you’ve sold to. I hinted at some of those listed reasons in the introduction.
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They could never afford your services in the first place They never received the invoice (maybe you sent it to the wrong address) Their accounting cycle hasn’t arrived yet They haven’t received what they purchased yet Your clients might not pay you right away for a variety of reasons including… Regardless of which medium you use to send your invoice, your client will pay you back the moment they receive it, right?Īlthough that sounds nice and should be how the world operates, it’s not. That’s nothing new, it’s a safe and common form of collecting payment. However, anyone who has been in this industry for long enough knows very well that involuntary churn is a big issue. As the SaaS market is estimated at 623.3 billion, you may think that running a SaaS business is a bed of roses. Let’s say that you’re a business owner who charges your clients in the form of invoices. Combine Dunning Software and Product Analytics to Recover 95 of Failed Payments. Businesses have to stay on top of and in communication with their accounts that haven’t paid them yet or risk closing their doors for good.