In its own best interest, a company must remind customers promptly if they are late on payments. However, accounts receivable management consumes a lot of time and money. If the dunning process does not work, the result is defaults on payments that can quickly have a negative impact on the liquidity of a company. At the same time, creditors are required by law to keep dunning charges as low as possible for defaulting customers. It is crucial companies have a solution in place to manage payment reminders sent by text and optimize the dunning process.
Reaching people quickly
Retarus’ Cloud SMS Services offer companies a quick way to send their late-paying customers a payment reminder by text and simplify their dunning process. The reminder reaches recipients immediately via their cell phones, regardless of where the customer is at the moment. SMS messages, irrespective of the terminal, can be delivered even if network coverage is poor, and they also have high opening rates. According to a current study by Infoholic Research, the average opening rate for SMS is 97 percent. Text messages are opened on average within the first three minutes of delivery.
Retarus’ web-based administration portal allows users to easily configure general send options from the start. For example, companies can define a specific dispatch time when sending a payment reminder by SMS. As a result, they can ensure that there are sufficient personnel resources available to efficiently process customer responses. Furthermore, the portal offers in-depth analysis options, which support sophisticated sales controlling. Companies may also choose to receive automatic delivery confirmations for each SMS sent, so they can accurately trace when the message passed through the Retarus infrastructure, when it was transferred to the wireless carrier, and when it was received by the customer.
Global network coverage
Thanks to Retarus’ infrastructure with its network of aggregators, companies reach 99 percent of all mobile communications networks on all continents. Moreover, Retarus complies worldwide with the respective regional regulations for the successful delivery not only for payment reminder via SMS messages but all texts, sent via the Retarus infrastructure. Through optimal routing and customized configuration of the sender ID, companies benefit from a particularly high delivery rate for their payment reminders, which results in substantially optimized liquidity management.