Automated debt collection with Odoo: How to optimize your receivables management

Outstanding invoices not only strain your company's liquidity but also add extra administrative effort. Managing receivables manually can be time-consuming and prone to errors. This is where the integration of Debtist into Odoo comes in: it automates the debt collection process, making it more efficient.

With this integration, you can focus entirely on your core business, while Debtist handles the collection of your outstanding debts. In this post, you’ll learn how to connect Odoo with Debtist and revolutionize your receivables management.

What is Odoo?

Odoo is a versatile open-source ERP software that unites a wide range of business processes on a single platform. From sales and warehouse management to accounting and HR, Odoo offers modules that can be tailored to the needs of your business.

Why integrating Debtist into Odoo makes sense

• Increased efficiency: Automated processes significantly reduce the manual effort involved in managing receivables.

• Faster payments: Timely transfer of overdue invoices accelerates the debt collection process.

• Transparency: Keep track of the status of all outstanding receivables at any time.

• Reduced errors: Automation minimizes the risk of input mistakes or missed invoices.

• Maintaining customer relationships: Professional debt collection ensures respectful communication with debtors, fostering long-term business relationships.

Debt collection for Odoo

How to set up the integration

1. Enter Odoo API key

   Log into your Debtist account and navigate to the integrations section. Select Odoo from the list. Enter your personal Odoo API key to establish the connection between the two systems.

2. Set automatic retrieval period

   By default, overdue invoices will be automatically transferred 30 days after their due date. Adjust this period to fit the specific needs of your business.

3. Automatically transfer overdue invoices

   Once the integration is active, Debtist will automatically import all overdue invoices from your Odoo system and initiate the debt collection process. You don't need to do anything further—Debtist takes care of the rest.

What information is transferred?

The following data is transmitted from Odoo to Debtist for an effective debt collection process:

Invoice details

• Invoice creation date

• Invoice title or subject

• Due date

• Outstanding amount

Debtor information

• Customer’s name

• Postal address

• Phone number for inquiries

• Email address for electronic notifications

Tips for successful receivables management with Odoo and Debtist

• Regular monitoring: Even with automation, it’s advisable to regularly check the status of your receivables.

• Personal reminders: For important clients, it can be helpful to personally reach out beforehand.

• Use flexibility: Adjust the settings for automatic retrieval to account for seasonal fluctuations or special business conditions.

Frequently asked questions

• How secure is the integration? The connection between Odoo and Debtist is established via encrypted interfaces. Your data is optimally protected and handled confidentially.

• Can I deactivate the integration? Yes, you can pause or fully deactivate the integration at any time in Debtist’s settings.

• Are there additional costs for the integration? The integration is generally free to use. Any fees for the debt collection service are charged separately according to the agreed terms.

Conclusion

Integrating Odoo with Debtist offers a modern and efficient solution for your receivables management. Automation saves you valuable time and resources, reduces potential errors, and improves your cash flow. Take advantage of this opportunity to make your company financially stronger and more efficient.

Get started with the integration today and enjoy the numerous benefits!