Completion rate is the percentage of people who checkout with the payment plan option and complete all of their payments.
(Completed Payment Plans) / (Total Payment Plans Started) = Completion Rate
If 10 people checkout with a payment plan option, and 1 of those people’s credit card fails and they never update it, leaving an unpaid balance. The completion rate of that Payment Plan would be 90% because 9/10 people completed the payment plan.
What it means:
Your completion rate is a health indicator of your accounts receivables. You want to have as high of a completion rate as possible. A high completion rate means that your customers are completing their payments.
What to change:
If your completion rate is low, be sure that your Billing Automation events are set up, and that you have set up an automated follow-up email to prevent, and recoup, failed payments. Be sure to include the link to your Customer Portal in these follow-up emails, so customers can update their card information easily.