Maximise SMS for Debtor Management Challenges

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Late payment calls or emails can be awkward, and they can distract from the more important aspects of your business. Avoid chasing Debtor Management Payment Due Reminderdown your clients for payments by sending a friendly reminder before the payment is even due.

A Friendly Reminder will be Keeping the communication flowing between you and your customers and it is a great way to build and maintain a positive relationship. If you’re only waiting until a payment is past due to send a reminder, then you’re missing an opportunity to have an amicable interaction with your clients.

The reminder you send before an invoice is past due will be a polite note to notify the customer that a deadline is coming up. Choose light, friendly language. The client hasn’t done anything wrong, so you don’t want to chastise them for not paying you yet; you just want to encourage them to send payment before the deadline comes. For instance, your message can be:

  • This is a friendly reminder that your invoice [#] payment is due next week on Friday, June 7th.
  • I’m reaching out to let you know that a payment deadline is coming up for your last invoice.

Please let me know if you have any questions about the invoice or if there’s anything I can do for you.

Remember that your clients’ job is to run their businesses, which sometimes means they have to prioritize tasks over paying you. A quick check-in will often be all it takes to get a payment on time. Let the Computer Do the Work.The best part of this tactic is that it doesn’t have to take time out of your schedule.

When we ask new ediarosms customers about their debtor management challenges, many times most times they tell us they hesitate to send invoice reminders—they’re not sure what to write, they don’t want to sound like “the bad guy” and they don’t have time to send reminders. When a business decides they’ve earned the right to be paid on time, they need the tools to help them get paid. Invoice reminders for overdue accounts are hugely effective if they are backed by a system to consistently, persistently deliver them to customers, on schedule.

When a business decides they’ve earned the right to be paid on time, they need the tools to help them get paid. Invoice reminders for overdue accounts are hugely effective if they are backed by a system to consistently, persistently deliver them to customers, on schedule.

Here are a few do’s and dont’s for overdue invoice reminders:

Do

  • Have up-to-date contact details to reach your debtors via email, SMS, landline and post.
  • Be polite and professional. At ediarosms, we know that polite persistence pays off.
  • Be honest.
  • Be assertive - use ‘I’ or ‘We’ statements.
  • Be ready with a series of templates and a communications schedule.
  • Collate all outstanding invoices into one easy-to-read statement and attach it to your
    reminders.
  • Send reminders directly to the person responsible for payments (protect the privacy of
    debtors).
  • Offer a number of ways to pay you.

Don’t

  • Be aggressive, inflammatory or patronising.
  • Disclose the outstanding payment to anyone other than the debtor.
  • Imply that you have or will commence legal proceedings if this is not true.
  • Pretend the reminder is coming from a third party agency e.g. a debt collector, if it’s not.
  • Introduce penalties not previously agreed to in your terms and conditions.
  • Write reminders in haste or anger.
  • Bombard your customers unnecessarily.

(Note: the majority of ediarosms customers receive full payments before a 4th follow-up is required.)
Though reminders are sent in sequence, we don’t recommend stating ‘This is your second/ third reminder…’ because that means you are communicating individually about every invoice. Rather, save your time and your customer’s time by consolidating all overdue invoices and amounts into the same reminder, and communicate about the total amount overdue. This practice reflects what really happens in business: a company continues to supply goods or services to their customer even as overdue invoices accumulate. Below are sample of debtor reminder SMSequence that can be sent to remind your customers:

SMS PAYMENT REMINDER TEMPLATES 1

  • 1st SMS Payment Reminder

This is a reminder that your account with
<your company name> is overdue by
<total amount overdue>. We appreciate
your prompt payment. Please contact
<name> on <email address> or <phone
number> if you have any queries. Many
thanks.

  • 2nd SMS Payment Reminder

<customer company name> - This is a
reminder that your account with <your
company name> is overdue by <total
amount overdue>. We would appreciate
your payment today.
For Bank Transfer:
Account name: <insert>
Account number: <insert>
To pay by credit card, please contact
<name> on <email address> or <phone
number>. <Name> can send you copies
of the overdue invoices or answer your
queries. Thank you in advance

 

  • 3rd SMS Payment Reminder

Our records show your account with
<your company name> is now well
overdue. The total amount owing is <total
overdue>, payable today.
For Bank Transfer:
Account name: <insert>
Account number: <insert>
To pay by credit card, please contact
<name> on <email address> or <phone
number>. <Name> will call you tomorrow
if <she/he> hasn’t heard from you today.
Thank you in advance.

 

  • 4th SMS Payment Reminder

Please be advised that <your company
name> did not yet receive payment as
agreed. Your credit status is on hold until
the overdue amount of <total amount
overdue> has been received by us.
For Bank Transfer:
Account name: <insert>
Account number: <insert>
To pay by credit card, please contact
<name> on <email address> or <phone
number>. Third party action will follow this
final reminder. To discuss, please contact
<senior manager> on <email address> or
<phone>. Thank you.

 

SMS PAYMENT REMINDER TEMPLATES 2

  • SMS 1- (invoice only just overdue)

Hi there (customers name) I hope you are well. I was just hoping you could please pay our invoice today as it was due for payment on the (due date). Our terms are very strict however our customers like this as it allows us to concentrate on providing a superior product and service rather than performing unnecessary admin tasks. Do you need me to text you our account details to pay into (customers name)? Many thanks

 

  • SMS 2- (invoice over 7 days overdue)

Hi there (customers name), can you please make payment of our outstanding invoice today? If you need a copy of it, just say the word. It was due on the (due date). Our bank account details to pay into are:
Bank- (bank name)
Account name- (account name)
Account number (account number)
Can you please text/email/whatsapp the payment transaction ID or screenshot of the receipt as soon as you have done it, just so I can note your file. Thanks (customers name)

 

  • SMS 3- (invoice over 14 days overdue)

Hi (customers name) I am genuinely concerned about this outstanding invoice now as I was hoping you would have paid it by now. Is everything ok? If you need a copy of the invoice to make payment, just say the word. I need to make a decision by 5pm today, so please text me back urgently. Thank you (customers name)

 

EDIAROSMS REMINDER SERVICES
The automatic reminder system reduce your risk of non-payment by nudging your customers with texts

SMS REMINDERS

Pay URL
Short and fast text messages (with pay links)

100%
SMS can be delivered to all phones in Nigeria & Globally

95%
of all text (SMS) messages are opened within 3 minutes.

81%
of all payments are made within 2 days after reception of the e-mail.

 

WHAT’S IN IT FOR YOU?
Improved cashflow and staff productivity!

Slow-paying and non-paying customers. The bane of many businesses. So why put up with them? Get paid promptly by sending out automatic reminders. We offer several options.

Don’t ask your staff to make calls and send out emails when they could be doing something more productive (like serving customers). Develop an effective reminder strategy that will simplify your collection methods and get money in more quickly. Our business intelligence service shows you which reminders were most effective, so you can adjust your strategy at any time.

WHAT’S IN IT FOR YOUR CUSTOMERS?
Friendly reminders and enhanced customer service!

Customers really do appreciate a kindly and timely reminder, especially one that is tailored to their preferred communication method. After all, they don’t want be landed with a late payment fee or denied a service because they forgot to give you their new credit card number.

By jogging their memory about an upcoming payment with a personalized message, they’ve got time to put funds into their account or update their details. They’ll feel looked after, and they’ll reward you with continued business.

 

Try ediarosms debt payment reminder?
Getting started is simple. Choose from a library of available payment reminder templates or create your own.

ediarosms.com team will be available to give you personalised touch. They will assist with account setup, scheduling your payment reminder, how to cancel pending scheduled payment reminder, give you ideas of custom sms payment reminder templates among others.

 

ediarosms.com - Your Banking SMS Partner
At ediarosms, we understand the unique needs of the financial services industry and can help you harness the power of text messaging in your business. We offer an SMS platform—SMS APIs and web — for businesses of all sizes. Whether you need a cost-effective solution for sending individual payment reminders or complete SMS integration with your banking systems, our team of specialists will work with you every step of the way to ensure that you get the most out of your SMS investment.

Click here Now!! to open an account, get free test SMS unit , existing customers can login here and begin messaging

For support, contact ediarosms.com team via support@ediarosms.com or call (+234) 080-9502-9999.

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