Maximizing Profits with Late Fees

Its crunch time for your program. The deadline is only hours away. Applicants are scrambling to get their entries submitted because they waited until the last minute, again …

You’ve planned ahead this year and are way ahead of schedule. You even have a few extra days to setup judging. Why not leave the program open for one more day?

Over 90% of applications come flooding in on the last day, and many of those show up after the program has officially closed. Leaving the program open for one more extra day with a late fee is a great way to generate even more revenue for the stragglers who waited until the last minute. Perhaps the late fee is only $5-10 more but it can have a huge impact even if only receiving another 50-100 applications.

With omniSAM, setting these late fees up and managing dates is a breeze. The late fees can even be triggered based on whether or not the application was started prior to the date.