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About the Agent
The Automated Dunning Agent leverages GenAI to automatically send reminders for overdue invoices, customizing follow-ups based on intervals like 30, 60, or 90 days. This streamlines the collection process by reducing the need for manual tracking and intervention, allowing billing teams to focus on higher-priority tasks while ensuring timely reminders are sent to customers. As a result, cash flow management improves, and the risk of overdue balances is minimized.
The agent seamlessly integrates with billing, invoicing, and financial systems, ensuring smooth data flow and real-time updates. It triggers instant alerts to the finance team in escalated cases, providing enhanced insight to monitor overdue accounts and maintain an efficient collections process. To continuously optimize its performance, the Automated Dunning Agent incorporates a human feedback loop. Billing teams can review and provide corrective feedback on the agent’s actions, allowing it to refine its strategies for handling overdue accounts. This iterative learning process ensures that the agent adapts to evolving billing scenarios, enhancing decision-making over time and improving the overall efficiency of the collections process.
Accuracy
TBD
Speed
TBD
Input Data Set
Sample of data set required for Automated Dunning Agent:
| customer_id | customer_name | contact_email | phone_number |
|---|---|---|---|
| CUST101 | ACME Corporation | acme_billing@acme.com | +1-555-0178 |
| CUST102 | Global Solutions | finance@globalsolutions.com | +1-555-0145 |
| CUST103 | Tech Innovators | accounts@techinnovators.com | +1-555-0199 |
| CUST104 | Blue Sky Ltd. | billing@bluesky.com | +1-555-0133 |
| CUST105 | Future Enterprises | future.billing@futureent.com | +1-555-0184 |
| CUST106 | Green Fields | accounts@greenfields.com | +1-555-0112 |
| CUST107 | Red Brick Co. | billing@redbrick.com | +1-555-0160 |
| CUST108 | Prime Systems | finance@primesys.com | +1-555-0128 |
| CUST109 | Alpha Dynamics | accounts@alphadyn.com | +1-555-0172 |
| CUST110 | Neon Wave | finance@neonwave.com | +1-555-0155 |
| invoice_id | due_date | outstanding_amount | customer_id | days_overdue | escalation_status |
|---|---|---|---|---|---|
| INV5001 | 2024-07-15 | 3500 | CUST101 | 45 | Reminder Sent |
| INV5002 | 2024-06-30 | 1200 | CUST102 | 75 | Escalated - Urgent |
| INV5003 | 2024-08-01 | 4500 | CUST103 | 30 | Reminder Sent |
| INV5004 | 2024-05-15 | 2500 | CUST104 | 120 | Escalated - Critical |
| INV5005 | 2024-07-01 | 3200 | CUST105 | 60 | Reminder Sent |
| INV5006 | 2024-06-10 | 1800 | CUST106 | 90 | Escalated - High Priority |
| INV5007 | 2024-07-20 | 4100 | CUST107 | 40 | Reminder Sent |
| INV5008 | 2024-05-30 | 5000 | CUST108 | 110 | Escalated - Critical |
| INV5009 | 2024-07-05 | 2700 | CUST109 | 70 | Escalated - Urgent |
| INV5010 | 2024-08-10 | 2000 | CUST110 | 20 | Initial Reminder |
Deliverable Example
Sample output delivered by the Automated Dunning Agent:
Payment Reminder Notice
Date: August 15, 2024
To: Global Solutions
Contact: finance@globalsolutions.com | +1-555-0145
Subject: Urgent Payment Reminder for Overdue Invoice INV5002
Dear Accounts Receivable Team at Global Solutions,
This is a reminder that Invoice INV5002, issued on June 15, 2024, remains 75 days overdue with an outstanding balance of $1,200. To prevent further escalation, we request that payment be arranged at your earliest convenience to keep your account in good standing.
Invoice Details:
- Invoice Number: INV5002
- Invoice Date: June 15, 2024
- Due Date: June 30, 2024
- Outstanding Amount: $1,200
- Payment Terms: Net 45
Payment Instructions:
Please remit payment to the following account:
Bank Name: Allied National Bank
Account Name: ZInfo Collections Services
Account Number: 12300456789
Routing Number: 021000021
For payment by credit card or questions related to this invoice, please contact us directly at collections@ZInfo-collections.com or call +1-555-6214.
Reminder Timeline:
This is the third reminder for this overdue invoice. If payment is not received within 10 days, additional escalation measures may be taken to resolve the outstanding balance, which could include interest fees or referral to our collections department.
We value our business relationship with Global Solutions and are committed to providing support. Timely settlement of this invoice will ensure continuity of services without interruptions.
Thank you for your attention to this matter.
Warm regards,
ZInfo Collections Services
Collections Department
collections@ZInfo-collections.com | +1-555-6214
851 Business Way, Suite 400
New York, NY 10004
