The Balance team
Order management

Introducing Dunning Management with Balance

AUTHOR: The Balance team

Late payments and the complexities of managing accounts receivable (AR) can burden businesses. But with our new Dunning Management capabilities, you can overcome these challenges. 

What's New?

Here are the key features and benefits:

Buyer Portal: Offer your buyers a single, merchant-branded platform to view and pay outstanding invoices. Whether financed through Balance or not, buyers can conveniently access and settle all their outstanding invoices in one place. Learn more about the Buyer Portal here.

Timely Payment Reminders: Reduce the likelihood of late payments with our efficient reminder system. We ensure that buyers receive prompt reminders through user-friendly interfaces and email notifications, including the following: 

  • Pre-Due Date Reminders: By proactively reminding them of upcoming due dates, you can significantly reduce late payments and maintain a healthy cash flow.

  • Collection Emails: In the event of past-due invoices, our collection emails step in to remind buyers of their outstanding payments. 

  • Payment Failed Notifications: Our system promptly notifies buyers when their payment attempts fail. 

Why It Matters?

AR management challenges can have a significant impact on your business. Our dunning management product equips you with the tools to drive positive outcomes:

Empower Finance Teams: Handle high volumes of transactions efficiently, enabling your finance team to focus on strategic initiatives rather than manual processes.

Enhance Buyer Visibility: Give buyers a comprehensive view of invoice and payment details, including due dates, amounts, and statuses, all within the Buyer Portal. 

Drive Growth and Revenue: By reducing the causes of late payment issues, you can strengthen customer relationships and foster loyalty.

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