Automate reminders and improve payment compliance

In today’s business world, successfully managing a company involves not only selling products and services, but also effectively managing financial processes.

One of the most important factors in financial stability is the timely collection of receivables and effective monitoring of customers’ outstanding liabilities.

Therefore, the dunning feature in the PANTHEON ERP system is an important tool for any company that wants to manage its debt collection process professionally and efficiently.

Reminders allow companies to easily and systematically track customers’ overdue payments, identify late payments, and take timely action in accordance with predefined rules.

Automated Sending

In the PANTHEON ERP system, reminders are used to automatically or manually notify customers of overdue and unpaid obligations.

Their main purpose is to speed up debt collection and improve control over open accounts.
PANTHEON enables:

• an overview of all customers’ past-due obligations
• preparing reminders based on predetermined criteria
• sending reminders by email or in print
• Setting different levels of reminders (first, second, final reminder)
• automatic recording of sent reminders in the system

One of the additional benefits of the reminder feature in the PANTHEON ERP system is the ability to send reminders via SMS messages.

In today’s business world, where the speed of communication is extremely important, companies are increasingly using digital channels to notify customers in a timely manner about overdue payments.

Messages are delivered directly to the user’s mobile device, which significantly increases the likelihood that the reminder will be noticed and read promptly.

In this way, the company speeds up the collection process and reduces the need for additional phone calls or manual contact with customers.

Process automation reduces the administrative burden on employees, speeds up the flow of information, and enables better business decisions based on accurate and up-to-date data.

Standardized Process

PANTHEON significantly simplifies and standardizes the collection process.

The system automatically tracks overdue obligations, records payment due dates, and enables the generation of reminders based on predefined criteria.

For example, it is possible to specify how many days after the due date the customer receives the first reminder, when the second reminder is sent, and when additional collection procedures are initiated.

In this way, the company establishes clear business rules and ensures consistent communication with all partners.

A Different Approach to Customers

A key advantage of this feature is the ability to segment customers and adapt the process to different business situations.

Not all partners are the same, and they do not all require the same approach.

Some customers have a long history of doing business with us and only occasional payment delays, while others pose an increased risk of default.

PANTHEON allows companies to set up different reminder templates for different
types of partners.
Examples of partner types for which you can set up different reminder templates:

• High risk – they are often late with payments
• Moderate risk – occasional late payments
• Low risk – fewer than 5 late payments

In addition to various reminder templates, it is also possible to set different deadlines and communication methods depending on the type of customer, the amount of the debt, or the company’s business policy.

Digitization

In many companies, the debt collection process has long relied on manual work performed by employees.

The finance department had to review each outstanding item individually, analyze due dates, prepare documentation, and contact customers by phone or email.

Here’s how it works:

• takes a lot of time
• increases the likelihood of errors
• often leads to an inconsistent approach toward customers

Advantages of the Solution

• Automated sending of reminders
• Transparency of the process
• Greater financial stability for the company
• Lower risk of long-term uncollected receivables

Who is this solution intended for?

• This solution is particularly suitable for:
• Finance Departments
• Accounting
• Sales and Management

Key Value of the Solution

The reminders feature in the PANTHEON ERP system combines organization, automation, and professional management of financial processes.

It enables companies to manage debt collection in a modern and efficient manner, reduce risks, and improve their overall business operations.

Timely information, a well-organized process, and reliable collection are the keys to successful financial management.