IODM is a ‘select and forget’ accounts receivable reminder software that is perfect for SMEs to manage their debtors and improve cash flow. Simply upload your outstanding invoices and IODM automatically schedules the reminder letters, debt collection letters workflow along with SMS/TXT messaging.
Main features include:
– Control all the parameters of the Account Receivable cycle
– Completely automated reminder management solution
– Accelerate cash flow
– Save time, money and cuts costs to your business
– Easy to use
Debtor management is critical to ensuring your business has sufficient working capital to reinvest and grow. With IODM, 72% of the outstanding debtors have a positive response by the third letter – ie. within 21 days, which results in an improvement of cash flow. It helps to prevent bad debt and so you can sustain sufficient amounts of liquidity for your business to run and grow.
No more headaches chasing down late payments with 3 simple steps
Step 1: With IODM on Maestrano, your outstanding debtor are automatically uploaded from your accounting software
Step 2: Select which debtors will receive the notifications (the system will preselect for you)
Step 3: Collect – send the notifications and start receiving the money owed to you
IODM fully automates the debtor management process that gets cash off the balance sheet and into the bank. The system runs a 4 letter reminder procedure with 2 reminder letters and 2 debt collection letters. When an invoice falls due, the system will generate a friendly reminder letter with your logo or your client’s logo and send it out via email or letter. An SMS/TXT will also automatically send out.
The system runs a 28-day cycle, and a letter will be sent out every 7 days until the debtor repays. If the debt is still not paid 7 days after the final debt collection letter is issued, a debt collection company will contact you automatically to discuss your options for next steps.
Along each step, nothing will happen until you click the action button. The system controls the notifications but you can manage the process at any time. You remain in full control of the process.
IODM on Maestrano
Being in the cloud, there is nothing to download or install. You can access the system at anytime, anywhere. All you need is an Internet connected device.
When you use IODM on Maestrano, it is automatically integrated with other Connec!™ ready applications. It allows you to seamlessly connect with your accounting applications such as Xero, MYOB and QuickBooks Online. Your data is automatically synchronized in real time, which means you only have to upload your data once and they will appear in all your applications. For example, when an invoice in your accounting application falls due, you will find it on IODM instantly without having to enter the data again. It saves your valuable time and resources from repeating data entry, and now you have more time to concentrate on building and expanding your business.
Want to give it a go? Start a free trial of IODM.