Customer contact is essential to successful collections. Timely, customized communications will increase collections, reduce DSO, accelerate cash flow, increase efficiency and enhance customer experience.
Scale AR outreach with automated communications driven by customer data and behavior. Haphazard and poorly timed attempts to reach customers are a waste of effort, and can be counterproductive. Well-timed, customized communications are more likely to be read and acted upon.
Use the following four ways to scale your AR outreach with automated customer communications, and help your team achieve AR goals.
Sync Communications with Sequencing
Initiate customer communications according to your collections policy at each stage of invoice aging. Use collections automation to trigger customer communications as invoices age through the stages of your collections policy. Automated reminders are an effective and efficient tool for contacting customers and prodding them to take action. Sequenced customer communications will increase collections, reduce DSO and accelerate cash flow.
Create branded communications coupled with customer contact, invoice and company data. Replacing generic emails and texts with branded communication will increase the effectiveness of your automated communications. Using the correct contact, invoice and company data will increase the chances that your message will be read and acted on. Customers receive many communications. Yours will stand out with customized templates.
Send your messages across the channels your customers use: text, email, or voice. Automated communications sent through the channels your customers use are more efficient and effective.
Schedule communications during customer business hours. It doesn’t help to send communications after hours or on weekend or holidays. They will be buried under other emails and texts when your customer resumes working. Automated customer communications can be scheduled so they reach your customer during business hours when they are more likely to read and react to them.
Use collections automation and scale your AR outreach with well-timed, customized and automated communications based on customer data and behavior. Collections automation will help to increase collections, reduce DSO, and accelerate cash flow.
Accounts receivable and accounts payable cloud-based solutions with customer/vendor portals and digital processes keep vendors and customers connected whether they work remotely or not.
With a connected accounting solution for your accounts receivable and accounts payable teams to coordinate work with customers and vendors, you can go digital and enjoy the benefits of office automation.
Lockstep Collect, a leader in cloud-based connected accounting solutions, can help you boost productivity and optimize cash flow with:
- Automated Communications
- Customer Self-service
- Collections Activity Management
- Reporting & Forecasting
Lockstep is an experienced software partner that can help you increase efficiency and accelerate cash flow.
If you would like to learn more about how you can benefit from connected accounting solutions, please contact Lockstep at www.lockstep.io