| (Disclosure: I’m the co-founder & CEO of Tesorio, YC S15) Awesome discussion. Agreed that this is very tough to just outsource, paying you for your services is the final step in the customer experience. CFOs and even sales or customer success teams want to treat customers very carefully in a personalized way. Sending out automated reminder emails is called ‘dunning’ and most accounting tools will do this for you automatically. But as people mentioned, if you can’t really exert pressure, how do you get someone to pay? It’s similar to sending spammy sales emails vs. personalized messages that will get someone’s attention. Also, most big companies will just ignore your late fees. We’ve found that the best teams at this manage their relationships and they know every last detail about the person who actually cuts the check at their client. We’re actually currently tackling collections from another perspective - we basically built a product that combines the best parts of sales CRM and customer engagement tools. The way to get the CFOs to buy though is to help them with their cash forecasts. A good collections tool is an A/B testing machine that lets you capture information from the folks doing the collections so the CFO’s team can create more accurate forecasts. Our website showcases our active products (Forecasting, Forex, & Analytics), but we’re currently in Beta with the Collections tool. Would love to show it to you and get your feedback. My email: carlos[at]tesorio.com |