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            Manage Collections for Accounts in Billing

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            Manage Collections for Accounts in Billing

            Use Collections to proactively address overdue invoices, reduce bad debt, and maintain a healthy cash flow. Your collections reps can easily track payments for unpaid invoices, and collect payment promises from customers, which helps streamline payments and reduce the risk of overdue invoices. Collections reps can also send personalized, automated dunning emails for effective debt recovery.

            Required Editions

            Available in: Lightning Experience
            Available in: Enterprise, Performance, Unlimited, and Developer Editions with the Revenue Cloud Billing license. Contact your Salesforce account executive for more information.

            Key Features

            • Collections App: Create, view, and monitor collection plans and collection plan items for accounts with overdue invoices to manage the invoice recovery process.
            • Dunning Emails: Leverage out-of-the-box email capabilities of Salesforce to set up and send personalized email reminders to notify customers about overdue invoice balance or upcoming payments. Use Marketing Cloud to enhance the dunning process with segmentation, reminder calls, and SMS messages. Use Dynamic Revenue Orchestrator templates to orchestrate your dunning strategy for collections.
            • Timeline: Track the timeline of unpaid invoices from collections initiation and email communications to scheduled calls. You can also view upcoming tasks such as calling the customer or sending a second email reminder by using the New Task Collections new task button icon on the activity panel in your collections timeline. See Enable Timeline for Collections and Set Up a Timeline in Salesforce.
            • Payment Promises: Communicate with the customers, receive payment commitments, and set up payment schedules to streamline the payment process.
            • Create Collection Plans and Collection Plan Items
              Create collection plans for accounts to help your collections reps track and resolve unpaid invoices. Create collection plan items for unpaid invoices that are related to the collection plan's account, enabling your collections rep to focus on the payment collection for individual invoices.
            • Set Up and Send Dunning Emails
              Configure automated dunning campaign emails to improve overdue invoice collections. Your collections reps can schedule timely overdue payment email reminders on a recurring basis, helping improve payment recovery rate and reduce collections efforts.
            • Collect Payment Promises for a Collection Plan Item
              Record your customer's payment promises, and create payment schedules and payment schedule items for collection plan items. Collections reps can secure payments for the outstanding balance of the invoice related to the collection plan item.
            • Orchestrate Your Dunning Strategy for Collections
              Automate the entire dunning journey—from sending email reminders to manual recovery on payment collections—by using the out-of-the-box Dynamic Revenue Orchestrator (DRO) templates.
             
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