Payment negotiations are the most important part of accounts receivable. If agents don’t know the best tactics for setting up payment plans or collecting higher dollar amounts, you will routinely leave money on the table. Every accounts receivable call center should train staff in basic methods for collecting the highest amount in the shortest time frame possible.Top Down NegotiationTop down …
How To Use Recurring Billing For Your Business
Share this ArticleOne-time payments to your company are necessary to accept from consumers, but for many businesses – especially those that run on accounts receivable – you need a recurring billing option within your payment software too. Recurring billing is the practice of charging a customer in installments rather than in a lump sum. These payment schedules can be used …
How to Increase Recurring Payments by 15-25%
Share this ArticleTwo Factors to Increase Recurring PaymentsThere are two major factors that drive the recurring payment stream in your office: the monthly payment amount and length of a payment schedule. You should be doing everything possible to maximize both factors. Increase Monthly Payment AmountsThe first way to get more from your recurring revenue stream is to increase the monthly …
Recurring Payment Processing and Regulation E Compliance
Updated June 2021 No matter what business you’re in, taking payments brings more regulations you must follow. For instance, companies that use recurring payment processing need to maintain Regulation E compliance during Electronic Funds Transfers (EFTs). How do you know when Regulation E applies to a transaction or payment schedule within your business and how can your payment software tools …
Are your Recurring ACH Payments Compliant?
Last Updated April 2023 Many consumers prefer to pay large bills in installments through ACH payments rather than a credit card. Offering this option in your business will decrease consumer complaints and increase your overall receivables. But just as with cards, it’s important to ensure the recurring ACH payments you accept are compliant.Understanding Recurring ACH Payment ComplianceComplying with every regulation …
