Summary: Choosing the right small business payment options is essential to your company’s health and survival. Many small organizations suffer from late or unpaid invoices, which impacts cash on hand and other basic company operations. Many companies are diversifying their payment channels and methods for more choice and faster payment capture. Common online payment options for small business include: Both …
Secure Web Chat for AR Payments: Never Miss an Opportunity
Article Summary: This article explains how integrating secure web chat and real-time payment links into your accounts receivable process increases payment capture rates, improves customer satisfaction, and strengthens compliance outcomes.Offering accounts receivable web chats can be your collection department or agency’s differentiating factor between an abandoned payment and a closed account. Many companies use web chats to: Help with customer …
Increase Digital Engagement on eSignatures and Payments
Is your company struggling to get customers to sign contracts or make payments in a timely manner? Digital engagement is the key to more signed contracts, closed deals, and completed payments. A solid digital engagement plan: Encourages higher response rates from the requests you send by using email and SMS channels. Speeds up interactions, from esignatures and document delivery to …
Payment Request Emails: Timing, Cadence, and Content Tips
For decades, paper bills and telephone calls have been the standard tactic for collecting payments. Now, payment request email options are available (and expected) by consumers. Using email to request payments and software that can capture customer payment information via email is popular, simple to implement, and creates a quicker way for people to pay their bills.Why Use Payment Request …
Patient Collections: Best Practices for Faster Payments
Healthcare and medical billing offices lag behind many other industries in adopting payment software for patient collections. Concerns over HIPAA compliance, patient responsibilities, and software integration often delay patient billing and revenue collection system adoption—but they shouldn’t. The key to improving patient collections in healthcare is implementing a HIPAA-compliant, automated patient collection software that integrates into your revenue cycle management …
Modern Tactics for Faster Patient Payments
High deductible plans and health savings accounts create more patient payment responsibility than ever before. Meanwhile, HIPAA compliance (and other hospital and health system operations) can lead to confusing patient payment solutions. How do we fine-tune back office processes and your patient’s experience together? By optimizing the patient journey from before check-in to billing and payment. This requires good pre-planning, …
Increase Cash Flow with SMS Text Payments and Invoicing
In today’s tightening economy, businesses that put customer experience and digital transformation as their top priorities will not only survive, but grow. This means catering to customers by giving them options they want—like text payments. Text billing and other customer-centric tactics (user-friendly workflows, preferred communication channels) boost payments to improve your bottom line among younger customers.Using New Communication Channels Millennials …
Merchant Onboarding Made Easy: Tips to Get Set Up Fast
Do you know what the merchant onboarding process entails for starting payment processing with a new SaaS vendor? Understanding how to set up a merchant account is essential to saving time, avoiding frustration, and ensuring a smooth transition to accepting payments. Here are the basic considerations for companies setting up a new merchant account.Merchant Onboarding Paperwork The merchant onboarding process …
Guide to Omnichannel Payments and Security
Omnichannel payments and multichannel payments are both terms used to describe the options your software allows for taking customer payments. Omnichannel payment features improve the payment experience for customers but they also have a positive impact on your overall business operations.What are Omnichannel Payments? Omni or multichannel payment solutions let you take advantage of more than one payment channel in …
Simplifying Accounts Receivable Workflows with PDCflow
Could you be using email and text channels more effectively to enhance your accounts receivable workflows and communicate better with customers? AR workflow software can help you cater to customers who expect to digitally sign documents and receive bills, payment reminders, or payment links by email or text message.What is an Accounts Receivable Workflow? Accounts Receivable workflows are any workflows …
Payment Types and Channels: Pros and Cons for Businesses
Giving your customer more choice and an easy-to-use payment system can remove most of the objections that cause your business to lose out on money. These choices can mean types of payment or a preferred payment channel. Credit card, ACH and cash payment types aren’t enough on their own. Your business should also have: An online payment portal so customers …
Guide to Friendly Payment Reminders for Better Cash Flow
Payment reminders are the simplest, most flexible solution to reduce late (or delinquent) payments. So why aren’t businesses taking full advantage of this easy, effective tactic? Some business owners are nervous about new software that requires extensive training to launch. Others are still operating on manual or paper reminders that don’t reach customers before their payment due date or come …
