FTNI Rolls Out Proactive Collections Module to Reduce Overdue Payments

Financial Transmission Network, Inc. (FTNI) announced a new proactive collections module within its ETran integrated receivables platform.

“In today's fast-paced business environment, timely collections are crucial for maintaining healthy cash flow,” says Michael Thompson, VP, operations, FTNI. “Our new Proactive Collections Module streamlines A/R and collections processes by automating customer communications and providing real-time insights into outstanding invoices. By helping businesses to send tailored notifications and payment reminders throughout the A/R lifecycle, our Proactive Collections Module is helping to reduce overdue payments and enhance operational efficiency."

Key takeaways:

·        FTNI’s ETran Proactive Collections module automates the delivery of electronic invoice notifications and sends customized payment reminders before and after payment due dates. These reminders continue until payments are settled, helping reduce payment delays and improving cashflow.

·        Customizable business rules enable targeted follow-ups at every stage of the A/R lifecycle, driving increased adoption of self-service online payment options and ensuring timely resolution of overdue payments.

·        Each communication can include an embedded hyperlink that directs customers to a secure online payment portal, enabling quick and easy payments to their account.

·        Utilizing real-time aging reports, ETran’s Proactive Collections module offers detailed insight into outstanding invoices and overdue payments across customer accounts. These reports provide a comprehensive overview of unpaid invoices, enabling businesses to prioritize follow-up actions based on the severity of the delinquency. Once a payment is received, the system automatically removes the corresponding invoice from future notifications, ensuring efficient and accurate communication.