At Chargent, we think about dunning software a little differently.
While the technical definition means ‘to demand payment of a debt’, taking payments from your customers isn’t really about demanding anything: it’s about making it as simple as possible for them to pay you for the services that they value.
Automated Collections, Chargent’s add-on for automated dunning management, is a powerful, configurable tool for automating and improving your accounts receivable processes. Bringing payment processing, automated collections, and customer data together in one powerful app gives you a complete picture of your financial health, while robust analytics tools let you make data-driven decisions to improve your collections process.
We’ve made this tool even more powerful, with a new feature, Automated Collections Collect Any Payment. Now you can activate an automated collections process for any customer, at any time, for any reason, without waiting for a failed payment.
When to Use Automated Collections Collect Any Payment
With Chargent Automated Collections, you can fully automate collecting any payment, from any system or Salesforce object. This lets your team design tailored collections processes that work for your business and your customer relationships.
Because we recognize that payments are not one size fits all. Taking a first-time subscription payment is not the same as collecting a past-due invoice. And when it comes to accounts receivable collections, everything from timing to messaging makes a difference.
Why does this matter? Traditionally, collections tools only kicked in when a scheduled payment failed. That’s impactful, and it addresses the most common use case: a recurring payment arrangement that was interrupted due to a failed transaction.
Now you can address a much broader range of payment scenarios, like:
Fully Automated One-Time Payments
Did your customer just sign on the bottom line? You can leverage Automated Collections as the first step in a new payment agreement. Use Automated Collections to send them an email with a payment request link – no manual effort required.
One scenario that comes up often is the need to manage scheduled or recurring payments where each payment needs to be treated differently. For example, many businesses allow customers to make one or more payments with very specific payment forms, like Flexible Spending Accounts, or gift cards.
Preventing Failed Payments
Setting up automated processes that prevent failed payments before they even happen couldn’t be simpler. Send an automated email to your customer before the invoice is due to remind them of the upcoming payment. Automated Collections works seamlessly in the background, attempting to collect the payment until it is paid in full.
Payments in Other Systems
If you handle payments or invoices outside of Salesforce, bringing them into Automated Collections to take advantage of features like dunning management and data analytics lets you leverage a new approach to existing debt.
At the core of all of these use cases is complete control over your entire collections process.
Dunning Management Software That’s Easy to Implement
We designed Automated Collections Collect Any Payment with flexibility in mind, with implementation options that use pro code for the developers, low code for the admins, and no code for your AR teams.
It can be as simple as clicking a button and choosing the appropriate Automated Collections process, to instantly start the dunning process.
Or, you can set up a Flow that pulls a list of records based on specific criteria, then activates Automated Collections for each of them. Flows are also a great way to access this functionality from other objects in Salesforce.
If your use case is more complex, you can also trigger Automated Collections via the Chargent API or Apex Methods.
The Bottom Line on Automated Collections
Centralizing the entire collections process in Salesforce, where your customer data already lives, gives you a more complete picture of both your customer and your accounts receivables lifecycle. You can take advantage of native Salesforce tools and Chargent Automated Collections features to bring digital transformation to your debt collections, and realize immediate benefits like:
- Reduced customer churn
- Lower Days Sales Outstanding
- Reduction in bad debt
- Healthier Accounts Receivable lifecycle
In addition, you’ll empower your accounts receivable team to spend less effort on time-consuming manual collections activities, and more of their day on strategic projects.
We are excited to bring these capabilities to our Automated Collections customers. We know that your customers want seamless options to pay so that they can continue to receive your services, your teams want to spend their day on meaningful, impactful work, and you want to collect revenue to sustain and grow your business.
With Automated Collections Collect Any Payment, that’s easier than ever.
Want to learn more about how to easily automate and improve your collections process? Check out the resources below:
- Learn how one customer reduced their reliance on third-party collections by bringing their dunning process in-house – and realized 400% ROI on their Automated Collections investment.
- Read more about Chargent Automated Collections and find out how you can collect more cash, faster.
- Discover the Top 5 collections mistakes – and how to avoid them.
And if you’d like to continue the conversation, you can get in touch with our sales team today.