Radiance 19
Learn More
Integrated Receivables Cloud Platform

Collections Cloud

Notes, Call Logs, and Payment Commitments

Capture notes and log calls, set-up self reminders and track payment commitments.

CENTRALIZE ALL CORRESPNDENCE DATA TO FAST TRACK COLLECTIONS

Centralize all customer collaboration information for easy accessibility and to save time

Store all customer collaboration history and customer initiated requests in a centralized data depository for each account. Ensure easy access and prevent the last minute hassle of data gathering before each correspondence action. Leverage Skip Invoice Tracing to capture payment commitments by large customers and to ensure data consistency and a single source of truth across the solution.

Replace spreadsheets, notepads, and post-its with a single strategic tool to engage in impactful collections action

Get rid of disparate tools and systems such as spreadsheets, notepads, Outlook, calendar, notepads, post-its, and other custom programs with a single system to store data, add reminders, re-prioritize accounts based on previous collaboration data such as follow-up request and payment commitments, and auto-recommend correspondence actions based on pre-defined strategies.

Stay on top of all accounts and all actions required for each account

Create and track payment commitments. Log customer collaboration history via call logs and notes for all correspondence actions. Use escalation workflow to ensure that no critical account falls through the cracks. Set up tasks for self-reminders to comply with customer initiated follow-up requests. Enagage in proactive collections strategies such as "Reminder for an upcoming P2P" and "Escalation for a broken P2P."

There’s no time like the present

Get a Live Demo of Collections Cloud for Your Business.

Request Your Free Demo

Five simple steps to process email remittances

Four simple steps to capture notes for correspondence actions

Step 1
icon

Set up for note templates

Create note types based on your business requirements or select from the pre-defined templates. The notes could be created for internal purposes such as escalation, or for external collaboration such as disputes, payment commitments, or customer contacts. Templatizing ensures better visibility into reporting such as number of internal notes per month.

Step 2
icon

Select the relevant template and note type

Select one or more invoices to create the notes and mark the appropriate note template.

Step 3
icon

Populate the subject line and add description

Write a succint subject line. For instance, when writing a payment commitment note, mention “Payment Commitment,” the committed date, and the company name. Add more details in the description tab of the note.

Step 4
icon

Collate all notes in a centralized repository for each account

Store all notes in a centralized repository that can be accessed easily before the next correspondence action for that customer.

Five simple steps to set-up tasks and self-reminders

Step 1
icon

Set up reason for follow up

Set up follow up reasons based on your business and industry or select from the pre-defined set templates. The follow-up reason could be returns, payment term issue, cash advance, cash flow Issue, bankruptcy, or other escalation.

Step 2
icon

Select invoices and set the due date and the reminder date

Select one or more invoices to create the task. Schedule the follow-up due date and the reminder date based on when the collector would like to be reminded of the task.

Step 3
icon

Decide the priority and update the status of the task.

Set the priority of the reminder as low, normal, or high and mark the current status of the task as not started, in-progress, waiting, deffered, or completed. The status and priorities options can be configured based on business requirements.

Step 4
icon

Assign the task and add description

Assign the task to yourself, other collection analysts, your manager, or to another AR team member such as a credit analyst. Add a description and notes to the task.

Step 5
icon

Collate all the tasks for an account and update the worklist based on the due-dates automatically

Store all tasks in a centralized repository and enable system-generated reminders to follow-up with the customer for associated invoices.

Three simple steps to create payment commitments

Step 1
icon

Choose invoices to add an invoice level payment commitment or select header level P2P

Select one or more invoices, click on the payment commitment tab, and select invoice-level in the dropdown. You can also create header-level payment commitments for all invoices on the account.

Step 2
icon

Select the committed date and add notes while the solution auto-fills other information

Add the committed date. The solution auto-fills other details such as contact information, commited amount, and date of commitment. Add reference numbers and notes if needed.

Step 3
icon

Collate all payment commitments for an account and update the worklist automatically

Store all the payment commitments under a single tab to enable easy tracking. The solution prompts reminders before the due-date and re-prioritizes the account to the top on the committed date. Enable corrective escaltion strategies to ensure broken payment commitments are not ignored and marked critical.

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.

There's more to Collections Cloud

Resource

Ebook

ebook11 Collection Email Templates to Double productivity of Collections Analysts

Download Now

Calculator

CalculatorDSO Savings Calculator

Find Out your Savings

Datasheet

DatasheetDatasheet: Collections Cloud

Download Now

Webinar

WebinarHow FleetPride Increased Collections Team Efficiency by 150% in 3 Months

Watch Now

Blog

Blog Collections Maturity Model: Where Does Your Organization Stand

Read Now

Webinar

Webinar75% Less Past Due in 1 Year: How ShurTech Brands Leveraged Collections Automation

Watch Now