RSMUS.comOverview:
Despite persistent reminders, are you still struggling to collect customer payments? Do you wish you had better insights into overdue balances? With RSM’s Dunning Letters Bundle, you can automate the collections process, ensuring timely reminders before payments are due—without the hassle of manual follow-ups.
Automating dunning saves time and effort by eliminating manual reminders, making collections more efficient. It scales effortlessly with a growing customer base, maintaining consistent communication and reducing errors. With timely reminders, cash flow improves by minimizing payment delays and closing cash flow gaps. Additionally, automation provides valuable insights into customer payment patterns, helping optimize processes and support better financial decision-making.
This blog will explore the key differences between the NetSuite Dunning tool and RSM’s Dunning Letters Bundle, along with the benefits and practical applications of RSM’s solution.
How Does NetSuite Dunning Work?
The Dunning procedure enables the system to continuously assess your receivables, identifying overdue invoices based on predefined criteria. As invoices become more overdue, they progress through different Dunning Levels, each triggering a corresponding, customizable Dunning Letter template. These letters are generated through evaluation workflows, which determine which customers, invoices, and invoice groups require dunning based on set thresholds and time intervals. The system then automates the process by emailing reminder letters to customers, ensuring timely follow-ups without manual effort.
What is the RSM Dunning Letters Bundle?
The RSM Dunning tool optimizes invoice collection by automating dunning at predefined intervals, such as 30, 60, and 90 days, while also streamlining the distribution of recurring customer statements for consistent follow-ups. With enhanced reporting and a dedicated dashboard for the cash applications team, it provides valuable insights and improves operational efficiency. The tool also allows for the inclusion of relevant record attachments with dunning reminders, ensuring clear and comprehensive communication with customers.
Recent enhancements to the RSM Dunning bundle introduce several new features, including the ability to print all invoices associated with a customer record, send consolidated statements, CC recipients with an override option, and manually initiate emails directly from invoices or customer records.
Industry Use
The RSM Dunning tool is a powerful solution for companies in the industrials sector, streamlining and automating the collections process to improve efficiency. By systematically managing overdue invoices, it enhances cash flow and minimizes the risk of bad debt. With automated follow-ups and consistent customer communication, the tool helps maintain financial stability while ensuring a more organized and effective receivables process.
Measurable Benefits
Automating Dunning letters improves cash flow by ensuring timely follow-ups on overdue payments and reducing customer churn. By eliminating the need for manual tracking and communication, it frees up valuable time for teams to focus on higher-value tasks. Automation also enhances the customer experience by delivering consistent, professional reminders, reducing friction and misunderstandings. This proactive approach not only streamlines collections but also helps maintain positive customer relationships while efficiently recovering outstanding payments.
Conclusion
RSM’s Dunning Bundle feature automates the process of sending payment reminders, reducing the manual effort involved. By implementing automated dunning procedures, you can streamline your receivables management and decrease the number of late and unpaid invoices to improve your cash flow management and gain visibility on payments. For more information on the RSM Dunning Letters bundle, contact our team!
Co-authors:
Victoria Hryniw: Victoria is a NetSuite consultant specializing in the industrials sector. With NetSuite certifications and expertise in key areas like procurement, she has led strategic assessments, seamless implementations, and process optimizations.
Sean Callahan: Experienced executive leader with expertise in accounting, operations, sales, and NetSuite implementation. A proven track record in strategic planning, team leadership, and driving organizational growth. A dedicated advocate for underrepresented colleagues, actively supporting companywide diversity and inclusion initiatives.
Victoria Hryniw
Victoria is a NetSuite consultant specializing in the industrials sector. With NetSuite certifications and expertise in key areas like procurement, she has led strategic assessments, seamless implementations, and process optimizations.
