Spotlight: Revenue Protection for Telecoms
Revenue Management using TimelyBill's Dunning and Collections Modules
What is Dunning?
In telecom billing, dunning refers to the process of attempting to collect payment for outstanding balances or unpaid bills. This may involve sending reminders or notifications to the customer, as well as taking additional steps such as suspending service if the bill remains unpaid.
Dunning ↗️ is a common practice in the telecommunications industry, as it helps to ensure that companies are able to recover the costs of providing service to their customers.What is Collection?
In most cases, customers will pay their bills before the specified due date. However, there may be customers who do not pay their bills. In this case, service providers must take some action to rectify the situation and collect the outstanding balance owed.
The collections process ↗️ tracks past due account receivables, sends notifications to the customer, and triggers actions in the absence of payments after a specific due date.
With just a little configuration organizations can protect their revenue by using the following methods:
- Trigger email reminders to customers
- Create letters for printing
- Suspend services
- Change account status to collections
- Write-off accounts
- General ledger transactions
TimelyBill supports dunning at the account level whereby all overdue amounts for an account, across several invoices, can be handled by a single dunning action. Our software gives CSPs the power to improve relationships with customers and enhance existing revenue streams.
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