Business Central Reminders: A Fang-Tastic Feature
Reminders are a standard feature of Microsoft Dynamics 365 Business Central that has been around for years. One could argue this feature is not the most used by customers or most popular because there's no "wow" factor. I'd argue otherwise. Here's why.
Business Central Reminders
Every business knows one of the difficulties of operating are customers who do not pay their invoices on time. Microsoft realized this a long time ago and has included a reminders feature within Business Central.
For example, you can create a reminder with two levels that has no more than 6 reminders. Business Central does not allow a reminder to appear on no more than six reminders. According to Microsoft, when one of the overdue invoices appears on five reminders, all reminders to the customer are blocked until that invoice is paid. Even if the customer has other overdue invoices that have not yet reached the maximum, additional reminders cannot be created.
Reminder Terms
Think of reminder terms as what triggers the reminder functionality. For example, you could set a minimum amount reminder term for $5,000. This means that as soon as a customer owes $5,000 your reminder will be triggered, customer's accounts could be debited for any interest or fees, and Business Central will adhere to any reminder levels created. What are reminder levels? Reminder levels are different tiers or conditions that can be setup to ultimately determine when and how reminders are sent to a particular customer.
The possibilities
Imagine the possibilities if you use Business Central's Late Payment Prediction extension with Business Central's Reminders feature. You can utilize Artificial Intelligence to predict which payments are going to be late and by which customers. Then, couple that with the Reminders feature and you'll be able to get a leg up when it comes to collecting late payments and/or payments that are predicted to be late.
Learn More
Reminders and Finance Charge Memos discussion segment from A Shot of Business Central and A Beer podcast:
