Add-ons: solutions that make business life easier
IODM - Innovative Online debt Management
IODM automates the receivables cycle for all your debtors to be contacted within minutes
IODM is an online debt management application that automates the entire account receivable cycle, helping companies monitor and collect receivables and improve cash flow. The system is WEB based and interfaces with MYOB.
The system runs a 4 letter reminder procedure with SMS/TXT, with the ability to refer the debt directly to a collection company for further action. The system works as follows:
The system automatically interfaces with MYOB so as soon as an invoice falls due or a payment is made the information automatically feeds into the IODM system
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 go out
After 7 days has passed, the system will automatically generate the second reminder letter with an SMS/TXT if the debt remains unpaid and send it out
After another 7 days, if the debt still remains unpaid, the system will generate a soft debt collection letter with and SMSS/TXT
After another 7 days, again, if the debt remains unpaid, the system will generate a second debt collection latter with SMS/TXT
So in all after the first action the entire cycle takes 28 days. If still the debt remain unpaid, you have the ability to refer the matter to the collection company. Along each step, nothing will happen unless you hit the action button, remaining in full control of the process.
The whole procedure to manage takes approximately 5 minutes and can send out reminders to multiple debtors. The system also has reports, and we can custom make any reports you may need.The system has white label functionality, there for allowing accounting firms to offer this to their clients as another value add service and also introducing a new revenue stream to the practice.
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*yes we know there are many other great languages out there - you can use anything you like