Managing collections requires proactive communication with customers to ensure timely payment of invoices. NetSuite Dunning Letters simplifies the communications process, sending payment reminders automatically at specified intervals based on account balance, invoice amount, or other criteria. Increase your collections by automatically delivering consistent, professional dunning notices in multiple languages and currencies.
Define the escalation points or dunning levels that best fit your organization. Dunning levels define thresholds for sending notices on overdue amounts and number of days overdue, and allow you to create different letter templates for each level. Set the amount of time that should pass before sending a dunning letter to a customer.
With NetSuite, you can create multiple dunning letter templates and schedules to meet different requirements. NetSuite allows you to decide which customers or invoices require dunning, allowing white glove treatment of critical accounts while standardizing communications to lower-tier customers. Use these criteria to develop automated dunning workflows with different messaging and intensity, such as a prepayment reminder followed by 30-, 60- and 90-day overdue notices. Depending on the preferences, email letters automatically or email or print letters manually. The letter template used by the system will depend on the dunning level of the customer or invoice. Improve customer relationships by pausing the dunning process while dealing with customer billing inquiries, or allowing extra time for payment to be received before sending another letter.
With NetSuite Dunning Letters, you can keep track of accounts with different dunning statuses with charts and lists on the Dunning dashboard, including:
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If this module doesn't meet your needs, there are other financial management solutions available for NetSuite: