MT-CS-021: Delinquent Accounts: Payment Reminders and Collections

CONTEXT / SCOPE

The objective of this SOP is to streamline the handling of overdue accounts through a systematic payment reminder and collection process, ensuring consistency in communication and actions taken across all customer segments.

IMPACTED TEAMS

• Core CSMs

• Digital CSMs

• CS Operations

GLOSSARY

• CRED SOFT - Self-Managed Credentialing Software (Credentialing Software)

• CRED SERV / FMC - Fully Managed Credentialing Service (Credentialing Service)

• CSM – Customer Success Manager 

• LMS- Learning Management System 

• Opp - Opportunity (where RSM registers the process of sales and information about the purchased product.)

• SF - Salesforce

• TL - Team Lead

TABLE OF CONTENTS

Delinquent Accounts: Payment Reminders and Collections

Core CSMs

As a CCSM, your approach in this process will be more high touch, meaning that there will be part automation, part some tasks to keep in mind. Your workflow is designed to work synchronically with Finance.

The Outreach sequence will be sending reminder tasks on the days when Finance will reach out to the client, and will send automated emails on the CSM’s behalf when they have to step in and follow up.

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Step 1: Initial Payment Reminder (10 Days Overdue) - Task #1

When an account has become 10 days overdue, Finance will be reaching out to the account’s main point of contact, including their secure billing link so they can update their payment information. You will be receiving a task to:

1. Manually add in the POCs of past due accounts.

2. Monitor communication, and to reach out to your TL in case Finance has not reached out

Step 2: Second Payment Reminder (40 Days Overdue) - Task #2

When an account becomes 40 days overdue, Finance will be reaching out to the account’s main point of contact again. You will be receiving a task to monitor and confirm Finance’s 2nd email was sent.

Step 3: Customer Success Engagement (60 Days Overdue) - Automated Emails #1 and #2

Outreach will be sending 2 emails on behalf of the CSM: when the 60 Days Overdue hit, and a follow-up email 1 week after.

Email 1 looks like this:

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Email 2 looks like this:

Step 4: Final Notice (90 Days Overdue) - Task #3

When an account becomes 90 days overdue, Finance will be reaching out to the account’s main point of contact a third time. You will be receiving a task to monitor and confirm Finance’s 3rd email was sent.

Step 5: Service Suspension and Collections (100+ Days Overdue) - Task #4

When an account becomes 100 days overdue, Finance will be suspending services. Task 5 will just be a reminder for you to check on the account status and confirm it.

Step 6: Win-Back Period (60 to 100 Days Overdue) - Automated Email #3

On day 80, one last automated email will be sent on your behalf, and will contain a 10% off offer as a win-back strategy. Please follow up with your admins accordingly:

Step 7: Mark as Lost Revenue (120 Days Overdue) - Task #5

When an account becomes 120 days overdue, Finance will be suspending services. Task 5 will also apply to step 7, as you will need to confirm account status

Digital CSMs

As a DCSM, your process will be fully automated, as shown in the Outreach sequence below. Please remember to follow up accordingly to your admins' replies.

Documentation and Reporting

Each team is responsible for documenting all interactions and escalations in Salesforce/NetSuite to maintain a comprehensive record of customer communications and actions taken. Regular reports should be reviewed to assess the effectiveness of the process and make necessary adjustments.

Review and Updates

This SOP should be reviewed bi-annually or as needed to ensure it remains effective and relevant based on business needs and customer feedback.