Summer 2022 Chargebee Receivables Updates: Improve your collection efficiency and maximize cash flow

Raising capital is getting costlier, and interest rates are higher. It is more important now than ever to maintain a steady, healthy cash flow and improve bottom-line growth.

The best way to get there is by accessing one of the least tapped-into sources of capital– Accounts Receivables (AR). An efficient AR process helps you collect revenue that’s rightfully yours, and during a downturn, it is the most readily available source of cash.

Introducing Chargebee Receivables—an automated AR platform that helps you collect up to 20% more revenue from your offline invoices and recover failed payments with intuitive customer engagement.

Today, we’re releasing a new set of updates that helps you sail through the economic turbulence without compromising your business growth. Chargebee Receivables is here to ensure you get paid on time by building a proactive customer engagement strategy with actionable insights into addressing payment failures.

Actionable insights to tackle payment failure

What?

Chargebee Billing users can now leverage Receivables to get deeper insights into their payment failures and reduce the risk of involuntary churn by proactively engaging with high-risk customers.

Why?

On average, 20%-40% of total churn is involuntary, caused mainly by card-on-file payment failures. These failed payments can silently strip away your loyal customers and recurring revenue without your knowledge. With Chargebee Receivables, you can anticipate, strategize, and recover failed payments, preventing involuntary churn on time.

How it helps

Chargebee Receivables, the industry-first collections platform, helps you uncover the reason behind failed payments. You can segment failed payments using prebuilt filters and set up auto-engagement workflows to engage with the customers quickly. For example, your team can identify customers with exhausted retry attempts and enable email reminders requesting them to complete their payments.

Advanced email engagement

What?

Add a personal touch without individual effort, even at scale. Create contextual, automated reminder workflows, track email interactions, and deliver relevant reminders to customers based on who they are and how they interact with your business.

Why?

Manual reminders can impact the collector’s efficiency, and sending the same reminder emails can lead to an unpleasant customer experience. That’s why it is critical to set up an intelligent collection workflow that recovers failed payments without making customer interactions awkward.

How it helps

With Receivables, you can target customers based on risk profiles or invoice values and set up intuitive workflows to automate recurring payment reminders. You can design follow-up workflows to drive better engagement with real-time visibility into how customers interact with your emails. You can also set rules to automatically exclude customers from the engagement cycles if they have replied, paid, or promised to pay.

Interactive analytics dashboard

What?

An interactive dashboard that offers subscription and receivables insights in a single place to help you gauge your organization’s AR health.

Why?

Makeshift excel sheet dashboards often lead to siloed data. Getting a unified, real-time view of your receivables and payment information helps you understand the health of your cash flow and the efficiency of your collection workflow.

How it helps

Gain a better sense of your company’s collection efficiency and overall revenue outstanding across multiple AR aging buckets. The unified dashboard helps you assess and monitor accounts receivables across your business units, along with subscription insights.

Chargebee Receivables and Chargebee Billing integration

What?

Chargebee Receivables integrates with Chargebee Billing to automate the invoice-to-cash cycle and ensure the revenue from every invoice generated is collected and recovered.

Why?

While acquiring new customers is essential, ensuring you collect revenue from them is equally crucial for a business. Chargebee Receivables integrates with Billing to ensure you have end-to-end AR visibility across the revenue cycle and build a collection approach that helps you get paid faster.

How it helps

Chargebee Billing’s payment infrastructure powers the payment links within Receivables’ customer portal and follow-up emails. This way, merchants can use the same Billing payment infrastructure within Receivables without having to set up something from scratch.

Additionally, Chargebee Receivables combines insights from Chargebee billing to help you understand the monthly outstanding by different plans, plan status, and the net due by auto-collection status.

With capital getting costlier and macro becoming uncertain, companies can focus on one of the least tapped sources of capital – Accounts Receivables to improve the bottom line.

Chargebee Receivables helps your collection team prioritize customers based on their payment patterns, recover failed payments, and automate the entire collection experience while ensuring an excellent CX without the awkwardness of asking for your money back.

Reach out to our product experts for a consultation call today.