So far, we’ve let our customer know about this missed payment, provided them with a Payment Request link, and tried to collect the payment two more times. If we haven’t yet been successful, it may be worth considering that the payment may have been declined due to insufficient funds. As such, let’s assume that our customer gets paid on a typical payday: the 1st, 15th, or 31st of the month.
We’ll select “Day of The Month” from the Time Frame picklist, and enter “16” into the Time Frame Detail field.
We’ll select “Yes” from the Payment Retry picklist. For the email option – which is only sent if our automatic retry doesn’t successfully collect the payment – we’ll choose a more sternly worded email template that makes our customer aware of this past-due payment, and any actions required on their part.
Email Subject: Action Needed – Your payment is past due
Your scheduled payment is now past due. Please contact our Billing Department to make payment arrangements in order to avoid suspension of your account / service.
[BILLING DEPT PHONE NUMBER][BILLING DEPT EMAIL ADDRESS][BILLING DEPT HOURS OF OPERATIONS]
From here, click the [Save] button to complete the configuration process.
Congratulations – your first Automated Collections process is now up and running! If you need to make edits, click into the Automated Collections process you just created on the left-side navigation to do so. If you need to disable it, you can do that by clicking the caret (downward facing arrow) next to your process, then clicking [Disable].
Your Automated Collections Process Is Live! What’s Next?
Once your Automated Collections process is up and running, you can monitor how it’s performing using the Automated Collections Dashboard, and refine your process as you see fit.
Got ideas for improvements? You can adjust this process, or create a new one and deploy it as part of an A/B test – just remember to switch the Criteria picklist to “Rule-based” and assign your Chargent Order records accordingly.
One thing to remember is that this Automated Collections process template is just a starting point as you embark on automating your accounts receivable processes with Chargent. Learn more about using data to improve your collections process in real time, or get in touch with our team to get started.