Automating Payment Failure Management 

Managing payment failures by engaging manually is possible only for a small number of customers. The process however should be automated if the number of customers increases or when you need to target a complex cohort of customers.

You can automate how you want to engage with your customers in different scenarios using Auto Engagement. It allows you to fetch the desired set of customers (cohort-based targetting) and set the rules for engaging with them.

Let us see how it works and how you best can use it.

Adding Cycle Rules 

If you are new to Auto Engagement Rules, you have the option to create a useful cohort with readymade Cohort Templates. These templates have a collection of dynamic fields that you can edit and configure as you require.

For example, one of the cohort templates says: ???Payment risk is High and invoices with Active subscription had their last payment failed in the Last 30 Days due to Insufficient Funds error with transaction amount greater than $10000???

In this example, High, Active, Last 30 Days, Insufficient Funds, and $10000 are dynamic fields that you can click and select a different value for as shown below.

You can move to the Rules Added section and edit or delete the added rules.

If a cohort template simply fulfills your requirements for a cohort, you can use that and proceed. If not, the templates give you an idea of setting your rules by adding the relevant fields to create a cohort for your use case.

• Once you understand the usability, you can navigate to the top section and select the relevant field category such as Last Attempted Payment, Payment Methods, Payment Terms, or Email Engagement and then select the relevant fields from the Select field drop-down menu.
• Once you select the desired field, the Select Value drop-down appears.
• Select the relevant value from the menu and click the + button.

Here are all the fields and their respective values that you can add as a rule:

Adding a Reminder 

On the Automation page, in the Reminders section, you can add reminders (emails) that you want to send to the customers who fall under the configured cohort.

1. Click Add Reminder.

   

2. In the Manage Reminder window, add the Reminder Name.

3. Select one of the following reminder options:

   • Click +Add Email to add an email reminder and specify the following details:
   • Recipient: Select contacts to include all the customers for each of the contacts at various levels of escalation. You can also select the customer's contact to whom you want to send the reminders.
   • Sender: Select a sender from the dropdown menu. You can choose between the company name, and other points of contact (POCs) such as sales point of contact(SPOC), and finance point of contact(FPOC).
   • Signature: Select the signature from the dropdown menu to include the signature between yourself, the company name, and other people on the team. Once a specific signature is selected, you can use the {{signature}} template variable in the email body.
   • Select an email template, subject, template variables, and column list to customize the invoice table in the email body.
   • Click Save.
     

You can know more about editing/deleting a reminder and disabling a reminder. Learn more .

Advanced Cohorts 

Every customer is unique in the way they subscribe, pay & engage. Hence our engagement with them can't just be any more generic. While cohorts allow you to bundle up customers of similar criteria, it is also important to know how cohorts can use used on an advanced level to target a specific group of customers and engage with them effectively.

Following are the cohorts and their variables to be used: