Automated SMS reminders are a great tool for accounts receivables teams. As a communications channel, SMS has an open rate of 98%. Far higher than email (which averages around 20-30% depending on industry and email type). It’s also an incredibly easy channel to add to your automated accounts receivable software. It’s cost effective, customisable and most importantly grabs your customers’ attention.
Need convincing as to why automated SMS reminders should be making an appearance in your workflow? Read on to see the key benefits we think they deliver across the accounts receivable journey.
Don’t get lost in the inbox jungle
Adding automated SMS reminders to your workflow can make a huge difference to your bottom line. Think about your own email inbox. It’s all too easy to ignore emails you know you don’t want to read. Or, simply forget about them as they get overtaken by new ones dropping in. So, when it comes to an email that’s clearly an invoice reminder, there’s many people who’ll happily ignore it until it simply disappears from view. Out of sight, out of mind…
By adding automated SMS into your reminder workflows, you’re adding another tool to stay visible. Whether you use it to gently check whether an invoice/statement has been received or clearly ask for immediate payment it’s unlikely an SMS will get overlooked.
A gentle nudge
At the end of the month when the bills come in, you want to be seen and heard. You don’t have to be pushy or rude about it. You just need to ensure that you are top of the list to be paid. And the more present you are in that reminder process, the more likely it is that you’ll be bumped up.
An SMS is like a gentle nudge. It grabs attention and ensures paying your bill stays top of mind. But does this in a way that’s faster than email, but less invasive than calling. It also takes into account the new world of work. Many people are no longer spending the structured 9-5 in front of their computers. But you can bet that their phone is never further than arms reach. SMS communication takes advantage of this.
Communicate how your customers want
If there was ever an argument to win you over then this should definitely be it. You are more likely to retain good customers if you provide excellent customer service. Adding SMS into your reminder workflow helps ensure you are doing just that. Whether you’re a business that deals with consumers or other businesses, at the heart are humans. And these days, we know that SMS ranks highly when it comes to communications preference. In fact one study found that 90% of people preferred to receive texts from businesses over calls.
Supercharge SMS with payment links
If you’re a Xero user based in Australasia then you can take advantage of our new payment portal. Partnering with payments experts Payrix, once signed up you’ll be able to include short links to pay in your SMS reminders. With this capability, you’ll be delivering a truly first-class accounts receivable solution to your customers. Making the payment journey for them as simple as receiving a text message and clicking on a link.
If you’d like to see how SMS reminders could supercharge your AR workflows, get in touch for a chat or request a demo. We’ve helped hundreds of businesses worldwide put their AR on autopilot and reap the benefits of a smart receivables process. We’d love to do the same with you.
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