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Faced with late payments that directly impact cash flow, optimising collections strategies has become essential. In this context, SMS payment reminders stand out as an effective channel to increase the chances of fast settlement. More immediate, with open rates far higher than email, SMS reminders can be used at different points in the collections cycle. Let’s look at the main benefits and best practices for using overdue payment reminder SMS in your strategy.
Benefits of SMS payment reminders
Better reachability for overdue payment reminder SMS
- High deliverability: Traditional reminder emails are more likely to end up in spam or simply get lost in overflowing inboxes. In LeanPay, our accounts receivable software offers SMS payment reminder as a communication channel through our partner smsmode©. They report penetration, open and read rates above 90 %. As a result, your SMS payment reminders are rarely ignored and are far more likely to be seen and read quickly.
- Immediacy: Most people keep their phone with them at all times, which increases the odds of an immediate read. This proximity helps your customers pay sooner.
- Matching customer preferences: Some customers prefer being contacted by SMS rather than by phone. Respecting these preferences creates a less intrusive, more appreciated communication experience and strengthens your brand image.
A smart, evolving solution
Implemented in just a few weeks before summer 2023 with a fully operational Sage 100 connector. Our group's goal of reducing DSO by 40% was achieved in less than a year thanks to Leanpay!
Bruno G. - CFO
Greater effectiveness of SMS payment reminders
- Strong impact via a still underused channel: In collections, overdue payment reminder SMS are still relatively new, which captures more attention. Less saturated than other channels, SMS makes your reminders more visible and therefore more effective.
- Increased personalisation: By personalising your SMS with the customer’s name or the amount due, your reminders feel more human and individual. This strengthens the customer relationship and signals proximity.
- Shorter payment times: The higher effectiveness of SMS payment reminders translates into faster payments, especially when your SMS includes an online payment link (as with LeanPay). You reduce your DSO and improve cash flow.
Flexible usage of overdue payment reminder SMS
- Fits every stage of the collections cycle: SMS payment reminders can be sent at any time. Whether preventive (pre-due reminder), for a first or second follow-up, or as a final amicable reminder before legal escalation, SMS remains relevant.
- Segmented reminders: You can segment overdue payment reminder SMS by customer profile (e.g. occasional vs recurrent late payers). This lets you adapt tone and content for a more targeted, effective approach.
- Automation: SMS payment reminders can be scheduled and automated, saving significant time while ensuring proactive receivables management.
Payment reminder SMS examples
To be effective, SMS payment reminder should be short, informative and contain a clear call to action.
- Keep it short: Go straight to the point. Ideally stay within 160 characters, otherwise the message may be split into several SMS.
- Include key info: At minimum, state the amount due and the due date or current delay.
- Call to action: Invite the customer to pay via the online payment link to your customer portal or to contact you.
Below are short and long versions suitable for different delay levels.
Preventive SMS payment reminder (pre-due)
Short version:
“Hello [First name], your invoice for [Amount] is due on [Due date]. Please pay via this link: [Payment URL]. [Your company name]”
Long version:
“Hello [First name], please note invoice no. [Number] for [Amount] is due by [Due date]. Pay via [Payment URL] or contact us on [Phone number]. Kind regards, [Your company name]”
SMS payment reminder for small delay
Short version:
“Hello [First name], your invoice for [Amount] is now [X] days overdue. Please pay promptly via: [Payment URL]. [Your company name]”
Long version:
“Hello [First name], we have not yet received payment for invoice no. [Number] for [Amount], overdue by [X] days. Please settle it promptly via: [Payment URL]. Kind regards, [Your company name]”
Overdue payment reminder SMS for moderate delay
Short version:
“Hello [First name], we still have not received payment for your invoice of [Amount] (overdue by [X] days). Please pay now via [Payment URL]. [Your company name]”
Long version:
“Hello [First name], we still have not received your payment of [Amount] for invoice no. [Number]. You are [X] days overdue. Please pay via [Payment URL] or contact us on [Phone number]. Kind regards, [Your company name]”
SMS payment reminder for significant delay (with payment plan)
Short version:
“Hello [First name], your invoice for [Amount] due on [Due date] remains unpaid. Please pay now or call us on [Phone number] to arrange a payment plan. [Your company name]”
Long version:
“Hello [First name], we have not received payment for invoice no. [Number] for [Amount], due on [Due date]. Please contact us promptly on [Phone number] to arrange a payment plan if needed. You can also pay instantly via [Payment URL]. Kind regards, [Your company name]”
Final overdue payment reminder SMS before legal escalation
Short version:
“Hello [First name], your invoice was due on [Due date] and will enter legal recovery in [X] days if unpaid. Pay here: [Payment URL] [Your company name]”
Long version:
“Hello [First name], we still have not received payment for invoice no. [Number] for [Amount], due on [Due date]. Without payment, this will enter legal recovery in [X] days. Please pay via [Payment URL]. Kind regards, [Your company name]”
Using SMS payment reminders in LeanPay’s accounts receivable software
With LeanPay, SMS becomes a fully integrated communication channel in the collections cycle, alongside email, phone calls and letters. You can easily add an SMS payment reminder step to your different dunning plans.
Automated overdue payment reminder SMS
You can choose to automate the sending of overdue payment reminder SMS when configuring each step of a scenario. Automation saves time and ensures consistency in your collections actions.
Advanced personalisation for SMS payment reminders
You can choose the sender name displayed on the SMS payment reminder. Using your company name (rather than a short code) reinforces credibility and makes identification easier.
Thanks to personalisation tags, each message can include title, first and last name, customer company name, outstanding balance, and more.
Each overdue payment reminder SMS contains a shortened link to the online portal where the customer can view invoices and pay. The portal is mobile-optimised to make immediate settlement simple.
LeanPay also provides a preview so you can check the message before sending; edit if needed, then send.
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Real-time tracking of SMS payment reminders
Once your SMS payment reminders are sent, LeanPay lets you view the full history and delivery statuses: in progress, successful or failed. This makes follow-up and analysis much easier.
If you would like to learn more about SMS reminders in LeanPay, tell us and we will call you back. 📞
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