Create collections activities based on payment predictions


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Users by admins, makers, or analysts Aug 31, 2021 Oct 29, 2021

Business value

Collections process automation can save time by setting up a consistent strategy for your collection process. Customer payment predictions can predict when customers are likely to pay an invoice late. By combining both features, you have one more automated tool to reduce the amount of time spent researching customer invoices and determining collection activities that will help your business get paid faster.

Feature details

Customer payment predictions predicts the likelihood that a customer invoice will be paid on time, late, or very late by assigning a percentage to each invoice. If you know the likelihood of an invoice being paid late, the Collections process automation feature can create collections activities for those invoices. You can also set up a threshold or benchmark percentage. Setting a benchmark helps ensure that collections activities are created only for the invoices where the predicted percentage of being paid late is greater than the percentage you set.

See also

Use Customer payment predictions (docs)