New from Chargent, the Automated Collections Dashboard provides meaningful, actionable insights into your collections process, with instant snapshots of your performance data as well as detailed analytics tools. If you’re up and running with Automated Collections, and you want to get the most out of its powerful features, this dashboard is an essential piece of that endeavor. Here’s why.
Take Action to Improve your Collections Process
Our customers have spoken: Chargent’s Automated Collections add-on is indispensable. It automates the heavy lifting of customer outreach and payment collection retries right in your Salesforce organization, and frees up your staff to work on more important tasks. We’re thrilled that Automated Collections is delivering on its promise, but we’re not done yet.
Introducing the Automated Collections Dashboard.
AC Dashboard Overview
Sometimes you’re not looking for a deep dive into the data (say that 10 times quickly). Sometimes you just need to check the temperature, so to speak. For instance, how much revenue is Automated Collections recovering for my business?
Take a look at the Cash Collected by AC section, where you’ll see a breakdown of exactly what AC is recovering each week or each month.
Or maybe you just want to see a quick list of your customers currently in the Automated Collections process. You’ll find that list in the Customers in Collections section, as well as the relevant details, like what they owe, which AC Process has been applied, and which stages have been completed.
A Deep Dive into Your Automated Collections Process
Automated Collections Dashboard makes it easy to view a snapshot of your collections process, but what about drilling deeper into the data? What about measuring the real success of Automated Collections, and refining your processes? The AC Dashboard is built for exactly that.
Let’s take a look.
Maybe you have some ideas in mind for how your Automated Collections configurations could work. This scenario is perfect for some proper A/B testing!
A/B testing is a straightforward yet powerful concept: deploy two different concepts, then measure and compare the performance of each. This approach to testing saves time and money. Here’s how to do it in Automated Collections:
- Configure and deploy both of your ideas in distinct AC Processes
- Assign each of those concepts to an even quantity of your Chargent Order records – you can leverage whichever Salesforce automation you like to populate the AC Criteria field on your Chargent Order records as a means of assigning your AC Processes
- Now just wait. Every business is different, but give it enough time for a sizeable list of Chargent Order records to trigger Automated Collections, and for those AC Processes to run to completion
- Here’s the fun part! Pop into the Automated Collections Dashboard, and take a look at the AC Process Success section
Here, you’ll see the collection percentage, the average amount collected per month, and more for each Automated Collections process. Maybe one of them is consistently performing well, and you want to know why. Move over to the Stage Success Rates section for that process…
…and you’ll see a breakdown of how often each stage is successful in collecting payment. Is there a clear winner there? A stage where Automated Collections is consistently collecting the payment? Great! Let’s figure out why!
What is distinctive about that stage? Is it the messaging or branding in the email? Maybe it’s the timing of the automatic payment retry. Review that stage’s configuration and you’ll find your answer.
You’ve just analyzed your best Automated Collections process and identified a successful approach. Now you have a better idea of what works well for your business and makes for the best customer experience, and can apply those concepts to other AC processes. Or you can do more A/B tests to refine even further. You have meaningful, actionable data at your fingertips, after all. That’s what the Automated Collections Dashboard delivers.
If you’re already using Automated Collections, you’ll see this dashboard in the Chargent app once you’ve updated to the newest version. Want to add it to another Lightning page? Not a problem! It takes just seconds to configure, and you’ll also find it in your standard Salesforce dashboards.
The Automated Collections Dashboard is your whetstone. Use it to sharpen and perfect your AC Processes and keep your customer accounts in good standing.
Find out how you can put Automated Collections to work with your payments process. Reach out to us today to learn more.