Dunning Management

Dunning is the process of handling failed payments and declined credit cards to recover lost revenue. In subscriptions, the ability to handle these with ease will help you put your mind at ease. Loop Subscriptions provides you with powerful Dunning Features which can be accessed from the Loop App. Using some smart logic our platform will help you reduce Failed Subscriptions by predicting them ahead of time.

We will be covering these features and how to configure them in your store.

Where is it in my App?

You can find this easily by going into Loop App > Dunning Tab

Dunning Management

The category is split into 4 panes, each showcasing different sections of Dunning.

Statistics

This pane shows you a quick visual indication of the upcoming payments on your Subscriptions. Here is the list of items that are showcased on this Dashboard.

• High-risk payments (next 30 days)
• Payments with last retry left (next 30 days)
• Payments with cards expiring (next 30 days)
• Payments Snapshot (last 30 days)
  • Payment attempted
  • Revenue realized (%)
  • Revenue recovered with Loop
  • Lost revenue
• Failed vs Realized revenue trend (last 6 months)
• Payment Failures (last 30 days)
• Payment failures (last 6 months)

Upcoming Payments

This pane allows you to check the upcoming subscriptions and their associated risk levels. You can configure this pane by clicking on More filters. Exports to CSV is also facilitated by the Export Button

These are the filters which are currently available to you

• Payment Date
• Is Retry on
• Retries left
• Last payment status
• Risk level
• Expiry status

Retry Settings

This pane allows you to configure the number of retries provided to the customer, when to retry and what to do in case all the retries are done.

• Retry failed payments - This allows you to choose how many retries to be provided
• Delay before retrying a failed payment - This allows you to configure the days before a payment is retried

Configure delay settings based on the retry attempt allows you choose dfferent delays after each billing attempt

• Choose Action - This allows you to choose which action to execute once all the retries are over. These are the options available.
  • Skip the Payment
  • Pause subscription
  • Cancel subscription

Reporting and Alerts

This section allows you to configure admin alerts to take proactive actions on upcoming payments having high failure risks. This can be configured to send a report every week (and/or) every month with the list of upcoming payments.

Suggested Reads

Here are a few articles that you may find helpful, and we suggest you go through the same 

1. Risk Levels in Dunning Management

If you have any queries or doubts about any of these steps. Please reach out to support@loopwork.co

Thanks
Loop Subscription Team