The
Invoice Pending Trigger
in Sales-Finance is a powerful tool designed to automate processes when invoices remain unpaid. This workflow ensures that follow-ups and actions related to outstanding invoices are carried out smoothly and efficiently, helping businesses maintain cash flow and reduce administrative effort.How it works:
- Select Product: Start by selecting the product for which you want to trigger automation when an invoice is due. This ensures that only relevant invoices for the selected product are monitored and addressed through automation.
- Define Workflow: When an invoice is marked as outstanding (not paid within a certain time frame), an automation sequence is activated. Key actions may include:
- Send Payment Reminder: Automatically send an email or SMS reminder to the customer, notifying them of pending invoices and including payment instructions.
- Generate follow-up tasks: Generate tasks for the finance or sales team to follow up with the customer if the payment remains unpaid after the first reminder.
- Update CRM and Accounting Systems: Automatically update customer and invoice records in your CRM and accounting systems to reflect outstanding status and ensure accurate tracking.
- Proceed to Collections: After multiple reminders, trigger an escalation workflow that may include offering payment plans or sending the case to collections.
- Notify Team: Alert relevant team members (eg, finance, customer success) about pending invoices to take further action or assist the customer.
Advantages of Automation Workflow:
- Timely follow-ups: Ensures reminders are sent at the right time, reducing the chances of invoices being forgotten or delayed.
- Improved Cash Flow: Encourages faster payments through automatic reminders and follow-up, helps maintain steady cash flow.
- Less manual work: Reduces the need for manual invoice tracking and follow-ups, freeing up time for more complex tasks.
- Accurate Record keeping: Automatically updates all necessary systems to ensure accurate and consistent records.
- Escalation Management: Provides a structured escalation process to handle overdue invoices professionally and efficiently.
By choosing the right product and automating the outstanding invoice workflow, you can ensure smooth financial operations, reduce payment delays and improve overall customer communication.