Automated Dunning & Correspondence
Automate dunning via email, fax, print and mail, and portal to ensure 100% account coverage, improve collector productivity, and free up collectors' time to focus on critical or strategic accounts
CUSTOMER COLLABORATION - FASTER AND MORE EFFICIENT
Increase account coverage with zero-touch automated correspondence for non-critical customers
Engage in mass correspondence for non-critical customer accounts. Set up workflows, schedule emails and allow the dispatch of hundreds of emails at a time with a one time set-up.
Reduce collector effort in customer correspondence to 3 clicks with ready-to-use dunning templates for low-risk customers
Leverage ready-to-use dunning templates to save time spent in sending each email manually. Add, edit, or update templates based on your business requirements. Auto-select correspondence packages to include latest invoices and account statements.
Reduce past-due AR by up to 75% by focusing on at-risk accounts
Customize messaging for high risk collections accounts or large customers in order to achieve faster payments and better customer engagement. Implement high touch key account management strategies to ensure that your collectors are on top of these high priority accounts.
Centralize all correspondence within a single system to ensure efficient and informed follow-ups
Access and store all collaboration history and data such as last correspondence date, call logs, payment commitments (if any), notes, tasks or customer initiated requests such as invoice requests in a single screen. This saves the collector all the hassle of data gathering before each call or email.
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Four simple steps to use automated correspondence
Set up automated correspondence for low-priority dunning
Customer accounts are segregated into segments where you prefer automated correspondence and where you want your collectors to focus and follow-up with high touch. Select dunning templates from a library of dunning templates used across industries or build your own customized templates.
Initiate collaboration with the customer via email, fax, or print and mail and leverage templates for mass dispatch
The correspondence engine provides alternatives between email, fax, mail, print and portal as modes of correspondence. Once the mode of the correspondence is chosen, the solution auto-selects the corresponding template such as first past-due reminder and collector can send multiple emails with a single click.
Auto-capture customer information, attach relevant files, and personalize messaging
The solution auto-fills data such as invoice value and due-date into the correct type of dunning letter in the email and leverages pre-defined templates tailored for different levels of dunning. Collectors can choose to edit the pre-defined template to ensure personalized messaging for high value customers. The correspondence engine also provides room for adding attachments such as invoices and claim copies.
Automatically log and update correspondence history
The correspondence engine records all correspondence activity and keep track of all important information such as type of dunning letter sent, correspondence date and time, and customer contact details.
This Is Why A/R Teams Love Us
Speed: Account Coverage
The Collections team at Brightstar Corporation increased their Collections accounts coverage per day by 97% through leveraging custom correspondence packages offered by HRC as compared to 8 different types of email correspondence templates which were used earlier and needed extensive IT involvement for set up and configuration.
Productivity: Past-Due A/R
The Shurtech Collections team reduced past-due A/R by 50% with the help of efficient customer correspondence. They had a 33% reduction in the 1-30 days past-due aging bucket and a 75% reduction in the 31+ days past-due aging bucket.