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Managing Invoices & Financial Health in CustomerSuccessBox

Objective

This article will assist you in understanding where to see the Invoices. Along with how to set up data for financial health and alerts related to Invoices for your customers. This article will also assist you in understanding the rule engine for setting up financial health and alerts related to Invoices for your customers.

Who’s this for?

This is for the customers who are sending Invoice data via Import, any Integrations, or APIS. If you are responsible for managing a customer success team (mainly admins), this article will help you understand how to improve your Customer Health 360 and Alerts using the Invoices rule engine.

Introduction

When we look at a holistic view of customer health, their financial health definitely plays a major role. In our customer invoicing rule engine, you have more flexibility while setting up Health 360 and Alerts for your customers.

Now, we can always go to Invoices under the Customers option on the top left corner of the screen.


Our customers can preview Invoices on the accounts show page. Kindly refer to the image below -



Some of the use cases that you will now be able to cover are:

Use-Case/Example

Newly added Rules

Calculation

The total amount paid by the customer is more than $50K

Total Amount Paid

Calculated based on the sum of invoices with status = Paid excluding invoices with status = Void/Draft

When the total amount due for payment by the customer is more than $50K, the account mores into Poor Financial Health

Total Amount Due

Calculated based on the sum of invoices with status = Not Paid excluding invoices with status = Void/Draft

When the total amount billed to the customer is less than $50K, generate a risk alert

Billed Amount

Calculated based on the sum of invoices with all statuses except when status = Future/Void/Draft

When the total overdue amount pending for payment is more than $50K, generate an alert and create a task for the success manager to get in touch with the right stakeholder

Overdue Amount

Calculated based on the sum of invoices with status = Not Paid excluding invoices with status = Void/Draft  and the due date for the invoice has passed

When the number of overdue invoices for a customer is more the 2, send automated emails reminders

Overdue Invoice Count

Calculated by counting the number of invoices with status = Not Paid excluding invoices with status = Void/Draft  and the due date for the invoice has passed


Note:  All the amount fields in the Invoice object will be converted to the default currency that you have set up for your account.


Example: If you have set up USD as your default currency in CSB, but an invoice was generated with the Euros currency, then the system will automatically convert all the invoice fields to USD.

Where will I see the changes?

The currency field is visible on the Account page>>Invoices>> Open an Invoice, there is a currency field.

 In which fields it will be applicable?

It is applicable in the below fields:-

  1. Total
  2. Amount Paid
  3. Amount adjusted
  4. Amount due
  5. write off Amount

What are the conversion rates?

We update the currency rates once every month automatically. We follow references from this website- https://currencylayer.com/

Configuration - 

Configuring Health 360 for Financial Health using Invoices

Follow the steps mentioned below to improve your health configuration:

  1. Navigate to the Health 360 page. Automation -> Health 360

  2. Click on Edit on the Good/Poor health section of Health 360.

  3. Click on Financial to get a list of the new rule engine parameters

  4. Now click on Invoice and select the parameter you want to set your Financial health based on

  5. Once you have selected the parameter you want for your financial health, select the condition for your Good/Poor Health and click on Save to make the changes. And that's it, you're done!

Configuring Alerts using the new rule engine

  1. Navigate to the Alerts page. Automation -> Alerts

  2. Click on Add Alert to set up a new Alert.

  3. Refer to this Support Article for more information on how to set up conditions for your Alerts.

  4. To make use of the newly added parameters, click on Invoice and select the parameter you want to set your Alert.

  5. Once you have selected the parameter you want for your Alert, select the condition for your the same and click on Save to make the changes. And that's it, you're done!

Contact Us

In most cases, you would have a dedicated Customer Success Manager who will be your point of contact for any queries or assistance. You may also,

  1. Initiate a chat directly from within CustomerSuccessBox. Use chat option from Chat icon in the left side navigation bar

  2. Create a conversation from here

  3. Send an email to support@customersuccessbox.com

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  1. Mayank

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