Coworkers Finance
Collections
Collections reminds your customers what they owe based on the age of the debt, logs their promises to pay and tells you what is still overdue.
- Team
- Finance
- Channels
- Email, WhatsApp
- Approval
- First reminder: approved template. Firmer tone or new customer: Credit approves.
- Corina, Distribuidora Andina has invoice F001-3308 for S/ 8,750.00 overdue by 45 days. It already got two template reminders. I propose a third one with a firmer tone, copying their manager. Shall I send it?
- Yes, but don’t mention a credit cut-off yet.
- Done: I adjusted the text and sent it by email and WhatsApp.
- Hernán, from Payments, replied: he promises to settle S/ 8,750.00 on Friday. I logged it and I’ll match the payment that day.
01 · What it does
The work it takes off your desk.
- Reads the receivables by age and builds the list of customers to contact each day.
- Sends reminders by email and WhatsApp with the invoice, the amount and the due date.
- Logs promises to pay with a date and an amount, and writes again when they are not kept.
- Matches payments against bank statements, separating the part that goes to the detraction account.
- Escalates overdue cases and customers who do not answer to Credit.
02 · How it works
Step by step.
- 01
Reviews
Every morning it reads the receivables by age and decides who to write to under your collection policy.
- 02
Reminds
Sends the reminder with the approved template, by email or WhatsApp, and logs what the customer answers.
- 03
Matches and escalates
Matches payments against the statements and hands Credit whatever is still overdue.
03 · Approvals
What goes out alone and what goes through a person.
It starts supervised: every reminder goes first through Credit. With evidence, it moves to by exception: the first reminder goes out on its own with the approved template, while a firmer tone or a new customer still needs Credit’s approval. It never moves money: customers pay into your accounts and it only matches the payment.
The four modes04 · Connects to
The tools you already use.
- Bank statements
- SAP Business One
- Other ERPs (file)
- Spreadsheets
05 · Hours given back
What it is worth, in hours and dollars.
Example: with 150 overdue invoices a month and 12 minutes of manual work on each one (finding the contact, writing, logging the reply and matching the payment), it gives back 30 hours a month (150 × 12 = 1,800 minutes). At your team’s loaded cost, your dashboard shows it in US$.
06 · Questions
About this coworker.
Does it write to my customers in whatever tone it likes?
No. The first reminder uses a template you approve. A firmer tone or a new customer goes through Credit before it goes out.
What if a customer says they already paid?
It looks for the payment in the statements. If it finds it, it leaves the invoice ready to be settled. If not, it hands the case to Credit with what the customer said.
Can it negotiate terms or give discounts?
No. It logs what the customer promises and takes any proposal on terms or discounts to a person in Credit.
07 · Finance
Works well with
Let's start with one task.
Tell us what your back office keeps chasing today. If it fits, we try it first in your company, on your number and under your rules.