Branded automated lettering to support your credit control
It’s not just straightforward debt recovery that we excel at. For many years Controlaccount has provided a complete dunning management service which enables our clients to maintain consistent cashflow, reduce days sales outstanding, and improve customer communication.
Dunning lettering - often referred to as final notice letters, is the process of sending out staged reminders to your customers when they have failed to settle an invoice within the specified credit terms. The process of sending out this type of letter is a vital component to successful credit control and will help maintain consistent cashflow for your business.
How we can help
Our automated dunning processes are an effective way to avoid non-payment of invoices. Using our forty years' experience in credit management, we work with our clients to understand their current practices, identify vulnerabilities and challenges, and put in place robust processes to accelerate incoming payments and educate account holders on why paying promptly is important. Our staged final lettering service will reduce pressure on internal administration and finance departments, reducing operating costs, increase cashflow and keeping you compliant.
How does final lettering work?
When an invoice has not been paid, it is wise to move quickly to the dunning process. The dunning letter cycle is usually a three-letter cycle - spaced 7 days apart. The first letter is often a gentle reminder that the due date has passed, and that payment would be appreciated. The 2nd letter following 14 days after the invoice due date is a little firmer, pressing for payment. The final notice letter in the sequence is usually around 21 days which clearly lays out next steps should payment not arrive. For many businesses, this includes a notice of intent that the unpaid invoice is now classed as delinquent and will be passed to a debt collection agency.