Consumer preferences have changed. Most people want the fastest, easiest way to interact with your company – that means paper statements and telephone calls shouldn’t be your only way to engage with customers. Allowing consumers to pay by text is an excellent tool to reach consumers, boost engagement numbers and ultimately collect more payments on time.Use Cases For Text Messaging …
3 Payment Software Adoption Goals for Small to Midsize Businesses
If you are evaluating your company’s payment software and communication workflows, you need to look not only at existing processes, but at the tools you’re using to engage customers. Many managers have inherited payment software solutions they never would have chosen or don’t fully understand how to use. This causes problems in an organization from expensive or inefficient processes to …
8 Digital Methods of Payment to Upgrade Customer Experience
There’s nothing more frustrating than customers failing to pay you on time for goods or services you’ve already provided. Fortunately, emerging technology options and methods of payment can shorten the average number of days it takes to collect a bill. Adopting omnichannel payment methods makes it easy for everyone to pay the way they prefer, from younger digital natives who …
Strategies for Successful Payment Request Emails: Timing, Cadence, and Content Best Practices
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 …
Simplified Workflow Management for AR Billing
Every popular technology introduced tends to follow a well-known principle called the adoption curve. This curve shows the segments of the population that follow a technology trend – from innovators and early adopters to the last segment, laggards.Email and text messages have now been around for decades. Even the laggards of the technology curve use digital tools for work, personal …
8 Payment Processor Questions Your Business Needs to Ask
Shopping for payment technology for your business can be overwhelming. You need to be able to make the best choices for your company but what do you need to know first? If you’re looking for a payment processor, here are some of the most important current trends, compliance concerns and tools that can help you with your choice.1) What is …
Digital Engagement Software to Meet Today’s Consumer Expectations
Using the internet to pay bills and interact with companies is popular. With the demand for contactless communication brought on by COVID-19 and the change in consumer preferences, a trend that has been building for years (the use of digital engagement tools) is here to stay. One study conducted last year shows that digital adoption rates are at an all …
Modernize the Patient Financial Journey: Where, Why and How
If you receive a bill months after a service, how likely are you to remember what it’s for? What if you try to pay but mailing a check or calling an office during your work hours are the only options? As consumers, none of us would be happy if we were put in these positions. So why do we expect …
What is a Payment Gateway? Choosing the Best Option for Accounts Receivable
Last updated December 2022 Running your accounts receivable business or team takes planning, organization, and the right tools. Along with the Accounts Receivable (AR) software organizations use to manage accounts, you need a payment gateway solution designed for your industry. What is a payment gateway and how do you choose the right one for accounts receivable?Payment Gateway DefinitionWhat is a …
Web Chat Services for AR: Never Miss a Payment Opportunity
The way consumers interact with your business has changed. Many people prefer to do research about your company before speaking to you – especially in accounts receivable, when you’re asking them to pay a bill. Just as in any other industry good website design is now a must in AR. Offering web chat services can be your agency’s differentiating factor …
Transform Your Patient Collections with Technology
When it comes to the technology used to manage accounts receivable, healthcare and medical billing offices lag behind many other industries. Concerns over things like HIPAA compliance and software integration have stalled software adoption – but it shouldn’t. The trick to transforming patient collections is finding compliant, multi-function software tools that are easy to implement.Common Patient Collections StrugglesIt’s overwhelming to …
The Industry’s Digital Delay May Be An Advantage – But You Must Answer These 3 Questions
Share this ArticleThis article, which originally appeared on insideARM, is part of the iA Think Differently series and was authored by Matthew Snedden, Chief Operating Officer of Beyond Investments. Written by members of the iA Innovation Council, the series showcases thought leadership in analytics, communications, payments, and compliance technology for the accounts receivable management industry. It is undeniable that the …
