In the dynamic landscape of SaaS companies, the importance of efficiently managing accounts receivable and ensuring timely payments cannot be overstated. At Younium, we understand the pivotal role these processes play in your success. In line with our dedication to improving our product, we have invested significantly in enhancing our accounts receivable function and introducing innovative features to streamline your payment workflow in 2024.
Automatic Invoice Reminders
One of the key upgrades at Younium is our automatic invoice reminder function, designed to expedite your payment collection process. We invite you to explore the two distinct logics that Younium supports:
- Number of days since Invoice due date
- Number of days since the last reminder
While both options are available, we generally recommend the latter setting. This choice aligns with the regulations in some European countries, ensuring compliance with the required waiting period between reminders before escalating the matter to collections.
Customize Your Reminder Flow
Take a proactive approach to your accounts receivable by reviewing and optimizing your reminder flow. Navigate to your settings in Younium and tailor the setup to suit the specific requirements of your country and the preferences of your customers. This thoughtful customization ensures that your payment reminders are not only efficient but also aligned with regulatory standards.
Pause Reminders with Ease
Have you encountered a situation where you needed to pause reminders for a particular invoice due to ongoing discussions with your customer? Fear not – Younium has you covered. Simply utilize the 'Exclude from reminders' option on both the Invoice and the Account pages. Conduct a thorough investigation to make informed decisions on managing your receivables effectively.
Strategic Collections Partnership
For invoices that remain unpaid over an extended period, Younium recommends partnering with a Collections partner. This collaborative approach ensures adherence to contractual agreements and significantly shortens payment timelines. Notably, Younium has established a valuable partnership with Finqr, a trusted Collections partner for Sweden and Norway.
Revamped Payments Module Workflow
Our commitment to enhancing your experience extends to the payments module as well. We have revamped the workflow, making it more user-friendly and efficient for matching payments with invoices. The improvements are designed with automation in mind, allowing you to import payments seamlessly, match them with outstanding invoices, and address any discrepancies effortlessly.
Automation for Efficiency
Take advantage of the new automation features that enable directly import payments from your bank. This streamlines the matching process, leaving you with only those payments that require your attention. By incorporating automation, Younium empowers you to establish a more efficient payment workflow, ultimately saving you time and resources.
To explore these enhancements further and ensure you are maximizing the benefits of Younium's improved features, reach out to your dedicated Customer Success Manager. They are ready to provide personalized guidance and support, helping you unlock the full potential of our upgraded accounts receivable and payment workflow.