As consumers, many of us may already be familiar with emails we see very frequently in our inboxes. When one of our social media accounts, or services requires payment, and we put it in, but it doesn’t go through, we will find a notification in our inbox, “Your payment did not go through”. These transactional emails that have account information and invoices attached to remind customers of due payment are what we call a dunning email. You will also usually find these emails will outline what will happen if you don’t pay. Look at this example from our friends at Hulu: Types of Dunning Communic ..read more

This is a question that many businesses continue to ask, what are the benefits of AR automation? The system works; why would we change it? Imagine if you had that attitude toward every risky step you took, that brought you success and profitability. So, it’s time to shake off the jitters around accounts receivable automation and understand this phenomenon and why you need to embrace it. Automating your accounts receivable process entails that your claims and payments sync via the software, and every outstanding payment is recovered quicker and with fewer violations. The process of AR automatio ..read more

Every business needs a swift and concise way of A/R management to ensure their profits are not locked up in non-paying accounts. The more one feels compelled to run after accounts, the more time and energy leeches off actual profit and success. Don’t let yourself get bogged down by chaos; learn how to streamline your A/R. So, if you ask what AR management is, we are here to guide you through the entire process and understand it in detail. Read along and discover the secrets of AR. The Big Question – What is Accounts Receivable Management? Your accounts receivable is the outstanding or remaini ..read more

If your business has been giving you trouble lately and you are spending more than you are raking in, we’ve got a problem. The issue hides in the accounts that are still unpaid or constantly under delayed payments. You may not realize it, but much of your profits are stuck within the delinquent accounts, preventing you from reaching your full profit potential. Let’s change that, shall we? Read along as we discover and learn what is accounts receivable automation and how it can transform your business. Accounts Receivable automation is a process that allows you to streamline your accounts recei ..read more

The time has come to look inward and see what your collection methods still need to include. Where is your A/R suffering, why, and what can you do to repair the damage? The answer is investing in first-party collections for your business. The CFPB (Consumer Financial Protection Bureau) recently released a report on the 2018 Fair Debt Collection Practices Act and revealed that debtors registered 81,500 complaints against debt collectors in a year, which means that there is a widening gap between the strategies implemented by collection agencies and the impressions that they are leaving on peopl ..read more

Is your business bleeding money, and you don’t know why? Maybe it’s time you look at the accounts receivable that are unchecked and not collected. You may need to realize that the amount owed by your customers racks up to quite a lot of money that needs to be collected. The way to circumvent this problem is to have dedicated resources on your accounts receivable. There are so many companies that struggle with recovering their accounts receivable, and the main reason is that their processes are manual. The human resources that go into collecting the debt need to be more focused and more motivat ..read more

As an accounts receivable specialist or credit and collection manager, you know that accounts ending up in collections can be a major headache. It can damage your brand reputation, lead to lost revenue, and increase costs. But there are several things you can do to prevent accounts from ending up in collections in the first place. Here are five tips: Implement a proactive approach. The best way to prevent accounts from ending in collections is to be proactive in your approach to accounts receivable. Be sure to start taking action before an account is past due. Instead, set up clear and concise ..read more

Businesses that provide services need help with maintaining their cash flow. With multiple administrative concerns, it can get challenging to ensure smooth billing procedures and maintain healthy customer relationships. Especially when a business has to collect outstanding payments for the services provided, it can get complicated. If you also struggle with collecting outstanding payments, you can turn your business around by investing in early-out pre-collection software like Last Demand. We all know that collecting payments can get messy and take much effort from your staff, so relying on so ..read more

Your Struggles with Payment Recovery Can Be Remedied with Automation If your business is bleeding money, maybe it’s time to look at your payment recovery rate and reassess the viability of your recovery process. Most businesses don’t realize how much they can improve with a few key changes to their operations, especially with a shift to automation. Its 2023, businesses will no longer be relying on an extensive workforce to uphold their operations. With automation on the rise for all kinds of businesses, it’s time that your payment recovery, the most significant part of your enterprise is also ..read more

As a business owner you might have often found yourself in a situation where a debt has gone on for far too long and now, you’re in a situation where recovering the money seems next to impossible. This is a relatively common problem when it comes to debt collection. You will find many people who will either not pay or will have multiple hurdles to making payments. But in these situations, the business begins to suffer more than it must, because a reliable solution is not present for collecting debts. As a debtor, being sent to collections is a whole other mess as well, which creates considerab ..read more