Dinero makes financial management easier for businesses with SMS

About Dinero

Dinero is a valuable partner to small businesses, enabling hassle-free financial management.

Dinero is do-it-yourself accounting software designed to help small businesses in Denmark keep track of key figures, accounts, bookkeeping, invoicing, payments, VAT and more.

Today, around 90,000 people actively use Dinero, from tradespeople to independent consultants and practitioners.

Dinero makes everyday life easier for businesses with SMS

Dinero's platform is designed with one clear objective: to minimise the administrative burden of accounting and bookkeeping in small businesses so that business owners can focus on what they do best: running their business.

Dinero achieves this goal through smart technology and a user-friendly accounting system.

As part of their smart system, Dinero customers have the option to send invoices, payment reminders, and similar messages via SMS.

Sending invoices by SMS is smart for several reasons, but it's particularly effective because the SMS channel has an average open rate of 98%.

At the same time, an SMS is far more personal than an email, for example, so Dinero's customers can count on their invoices or reminders actually being read.

A desire to make users' work easier

Dinero's decision to implement SMS in their system in 2021 wasn't because they had direct problems to address themselves.

They had become aware that several of their users were spending a lot of time chasing outstanding payments. That time could be better spent elsewhere, and non-payment can also cause financial difficulties for small businesses.

Dinero therefore went all in on finding a solution to help users get paid quickly and easily. As emails often get lost in a crowded inbox, they were looking for another channel that was less likely to be overlooked.

The answer was an SMS solution in the Dinero system via the inMobile API.

SMS makes payment faster and easier

Dinero's goal is to make it easier for entrepreneurs and small businesses in Denmark to manage their finances without expensive accountants and bookkeepers.

One of the most important tasks is to ensure the business gets paid by its customers. Dinero’s SMS feature now makes this much easier.

The implementation of inMobile's SMS gateway means that Dinero users can choose whether they send an invoice by email only or also by SMS.

The user can also choose to send the invoice message as soon as a job is completed. The SMS contains a link to the customer's invoice, which can be paid on the spot and even from their mobile phone.

It eases the workload of many businesses and saves them time spent collecting payments.

If payment is still outstanding, Dinero users can also send reminders and overdue payment notices to their customers by SMS.

When customers receive a payment link, payment reminder, or similar message via SMS, it greatly increases the chance of the message being acted upon, in Dinero's experience.

As Nicolai Busk explains: "It has become much harder to get people to respond to an email. An SMS feels more important, like e-Boks or a letter in the post. It stands out more and makes people feel that this is something they need to act on."

A more attractive payment system

SMS helps make Dinero's user-friendly system even easier to use, while improving the overall user experience for both Dinero users and their customers.

The average SMS open rate is 98%, and 90% of messages are opened within the first three minutes. This makes SMS a very direct way to communicate with recipients and helps businesses get paid faster.

But it's not just Dinero's customers who enjoy the benefits.

The SMS functionality has made Dinero's premium product more attractive, which means that more users are choosing to upgrade from the free solution to the paid premium solution.

Once Dinero users experience how fast and efficient it can be to process payments, they don't look back - and both Dinero and their customers' businesses grow as a result.

That's a win-win-win situation.

SMS is here to stay

With SMS, Dinero has made it easier for companies to focus on running their business rather than chasing unpaid invoices. Dinero is always looking for new ways to improve.

Today, SMS is an optional add-on to email when sending invoices. Looking ahead, Dinero is considering making SMS a standalone option, thanks to the positive feedback from users of the SMS feature.

Dinero is also considering using the SMS channel more actively to send business-critical service messages to users, for example.

There are many ideas on the drawing board, but no concrete plans yet. At Dinero, however, they have no doubt that SMS will remain an integral part of the business.

At inMobile, we are proud to work with an innovative company like Dinero, which looks not only for solutions to its own problems, but also focuses strongly on solving its users’ challenges.

We look forward to following the continued development of their efficient financial management system.

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