Faster Time to Cash

3 Ways Telecoms Can Automate for Faster Time to Cash

Communication services providers often operate with tight margins, so managing cash flow is important. Late customer payments can significantly affect service delivery, investments, and payroll. Optimizing customer billing through automation is key to accelerating payments. Here's how.

Integrated Billing, Dunning & Payment Processing

TimelyBill can significantly streamline your invoice-to-cash cycle. It ensures timely billing and automates invoicing and payments, improving cash flow management.

3 Tips to Get Paid Faster

  1. Configure Terms with Late Fees—Setting up payment terms and including late fees is a proactive strategy for managing your cash flow. By setting each customer's payment terms upfront and using our integrated dunning solution to apply late fees, you can prevent late payments and avoid billing surprises.
  2. Send Payment Reminders via EmailAutomate payment reminders based on due dates to ensure timely payments. This can significantly increase on-time payments.
  3. Automate and Send Monthly Statements—Monthly statements remind customers of their outstanding balances. Automating this process will save time and ensure clients are consistently aware of their fees, resulting in faster reconciliation and payment.

Implementing these three automation strategies can significantly reduce outstanding balances and improve profitability. Integrated quote-to-cash solutions like TimelyBill simplify the billing process, allowing you to focus on sales growth and service delivery.

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