In this video, we walk you through our proven Paidnice account setup that has helped businesses reduce overdue invoices by up to 50%.
Core Policy Stack
1. Email Reminder Sequence
Create a comprehensive reminder flow that covers the entire payment lifecycle:
Before Due Date Reminder
Timing: 3 days before due date
Purpose: Gentle nudge to ensure on-time payment
Best Practice: Keep tone friendly and helpful
Due Date Reminder
Timing: On the due date
Purpose: Final prompt for on-time payment
Best Practice: Include payment options and invoice details
After Due Date Reminder
Timing: 5 days after due date
Purpose: First overdue notice
Best Practice: Maintain professional tone while creating urgency
2. SMS Alerts
Why SMS?: Highest open rates of any communication channel
Timing: 7-10 days after due date
Impact: Different medium captures attention when emails are ignored
3. Automatic Monthly Statements
Schedule: First or last day of each month
Benefit: Regular touchpoint reminds customers of outstanding balances
Configuration: Set to "Outstanding items" for comprehensive view
4. Statement Interest Charges
Recommended Setup:
Type: Contact-level interest charge
Rate: 20% per annum (adjust based on your region/industry)
Calculation: Pro-rated daily
How it works:
Interest accumulates daily, creating urgency
More effective than fixed fees
Similar to bank/credit card charges
Automatically included in statements
5. Escalation Workflows
Trigger: 30 days overdue
Action: Internal notification for manual follow-up
Options:
Assign to specific team members
Email external parties (lawyers, collection agencies)
Create tasks in your CRM
Pro Configuration Tips
Optimal Timing Settings
Business Hours Only
Set action time to 9:00 AM
Ensures emails arrive during work hours
Higher open and response rates
Weekday Scheduling
Enable "Weekdays only" option
Prevents weekend sends
Professional appearance
Additional Revenue Optimization Policies
Quote Reminders
Use Case: Prevent quote expiration
Timing: 2-3 days before expiry
Benefit: Improved conversion rates
Prompt Payment Discounts
Setup: 2-3% discount for payment within 7 days
Auto-removal: Discount expires after set period
Psychology: Reward early payment vs. penalize late payment
Implementation Workflow
Step 1: Initial Setup
Navigate to your default group
Create all core policies (reminders, SMS, statements, charges)
Set all to "Draft" mode initially
Step 2: Testing Phase
Review actions in the queue
Preview emails and charges
Manually approve initial batches
Monitor customer responses
Step 3: Full Automation
Switch successful policies to "Active" mode
Keep sensitive actions (like interest charges) in "Draft" for review
Monitor dashboard for performance
Managing Your Action Queue
Draft Actions
Review and approve pending actions
Preview before sending
Bulk approve when confident
Scheduled Actions
View upcoming automated sends
Modify timing if needed
Cancel inappropriate actions
Completed Actions
Track what's been sent
Reverse charges if necessary
Review effectiveness
Expected Results
Businesses implementing this recommended setup typically see:
50% reduction in DSO (Days Sales Outstanding)
30% fewer overdue invoices
75% reduction in manual follow-up time
Improved customer relationships through consistent communication
Best Practices
Start Conservative: Begin with gentle reminders, add enforcement gradually
Monitor Response: Use dashboard to track effectiveness
Adjust Timing: Optimize based on your customer payment patterns
Stay Consistent: Regular communication trains customer behavior
Document Everything: Use escalation notes for audit trails
Troubleshooting
Low response rates?
Check email deliverability in dashboard
Verify contact information is current
Test different reminder timing
Customer complaints about charges?
Consider lower interest rates initially
Use "Draft" mode to review before applying
Create exceptions using tags for VIP customers
Too many escalations?
Extend escalation timeline to 45-60 days
Add more reminder touchpoints
Review customer credit terms
Need help optimizing your setup? Our support team at [email protected] can review your configuration and suggest improvements based on your industry and customer base.