How to Plan for Your Best Tax Refund Debt Collection Season

How to Plan for Your Best Tax Refund Debt Collection Season

For many consumers, a tax return is the perfect opportunity to take control of outstanding debts. That’s why tax refund season is one of the busiest times of the year for debt collection agencies. Does your agency take advantage of tax refund season to boost revenue and close more accounts? Lots of companies might want to establish a tax time …

Chargeback Prevention Tips for High Risk Businesses

Chargeback Prevention Tips for High Risk Businesses

Your staff works hard during the busy tax season and throughout the year to settle past-due accounts and collect payments for your debt collection agency. Without measures in place to prevent chargebacks, though, many of your payments could end up being disputed by consumers. Agencies and other high-risk businesses can go months or years without experiencing the stress caused by …

Maximize Efficiency with Modern Payment Management Software

Maximize Efficiency with Modern Payment Management Software

Payment management software should serve two main purposes for a business – improving a customer’s experience and improving office processes. The right payment management system: Offers multiple easy ways for customers to pay Has intuitive self-serve channels (like online payments) Reduces manual processes for staff Simplifies payment compliance Streamlines payment reconciliation Better CX With Omnichannel Payment Management SoftwareOmnichannel payment management …

A Guide to Lawyer Trust vs Operating Accounts

A Guide to Lawyer Trust vs Operating Accounts

As a law practice, it’s important to follow rules for how to handle a client’s money. This means keeping funds separate through different lawyer trust accounts and operating accounts. Using multiple accounts to manage these finances can be tricky. It’s essential to have strict financial management practices and payment software that can handle multiple lawyer trust and operating accounts.What is …

A Strategic Approach to Debt Settlement Campaigns for Tax Season

A Strategic Approach to Debt Settlement Campaigns for Tax Season

Debt settlement campaigns are initiatives where debt collection agencies offer a discount to consumers to boost collection on old or unresponsive accounts. Tax refund season is the best time to consider a debt settlement campaign within your debt collection agency. A debt settlement campaign can help your agency: liquidate inventory more quickly increase revenue for you and your clients increase …

Switch from IVR Payments and Boost Customer Satisfaction

Switch from IVR Payments and Boost Customer Satisfaction

Interactive Voice Response payments (IVR payments) are a common choice for companies that want to speed up payments and reduce staff workloads. Freeing up employees from menial tasks is the fastest way to optimize your office but is there a better way than IVR? Companies often turn to their IVR systems as a way to take payments over the phone …

Understand and Develop Conversational Intelligence in Debt Collection

Understand and Develop Conversational Intelligence in Debt Collection

“Privacy works flexibly. It’s scalable. And it’s unique to every situation we’re in.” This is a quote from Leslie Bender, Senior Attorney of Health Privacy and Consumer Financial Privacy during her presentation at Collector Live, a yearly event hosted by Mike Gibb of AccountsRecovery.net. The virtual conference for frontline and upper management debt collectors hosted several experts including debt collection …

Why Accept eCheck Payments? How They Work

Why Accept eCheck Payments? How They Work

Does your business still take traditional paper checks? Waiting for payments in the mail makes it harder to reconcile accounts, stalls work, and impacts cash flow. Echeck is a faster, more modern way to take payments. If your company wants to speed up payment cycles and make paying easier for customers, accepting eChecks is the way to go.What is an …

Use Root Cause Analysis Methods to Improve Policies and Procedures

Use Root Cause Analysis Methods to Improve Policies and Procedures

Courtney Reynaud, President and CEO of Creditors Bureau USA, has found success in her agency with careful attention to policies, procedures, and work instructions. But, she didn’t always have such a strong compliance management system. Before her office focused on these practices, she noticed blame would often be placed on a single employee or a client. Reynaud explained that blaming …

How to Use QR Code Payments for Your Business

How to Use QR Code Payments for Your Business

QR codes are everywhere. They help people look at restaurant menus, access corporate websites, or even make purchases. Since the pandemic began, QR code payment usage has climbed, giving people a simple, fast way to access information or take action. QR code payments are good for more than just retail environments. Many businesses have started to adopt QR codes to …

Automate and Thrive by Setting Up Recurring Payments

Automate and Thrive by Setting Up Recurring Payments

A lot of businesses don’t know how to set up recurring payments that make sense for customers and still bring in revenue. The most effective recurring payments balance the parameters of payment schedules, business needs, and customer preferences. The first step to successful scheduled payments is to know how, why, and when to accept recurring payments. What is a recurring …

Looking Beyond Fees: Evaluating Payment Processing Services

Looking Beyond Fees: Evaluating Payment Processing Services

Companies often shop for payment processing services based on cost. For many businesses, especially those in regulated industries, using this criteria may not lead you to the best payment software for your company. This is because not all payment processing services are the same. Some payment softwares are designed with specific industries in mind and don’t offer the payment processing …

Are your Recurring ACH Payments Compliant?

Are Your Recurring ACH Payments Compliant

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 that applies to your …

Learn How to Set Up ACH Payments and Boost Your Business Now

Learn How to Set Up ACH Payments and Boost Your Business Now

ACH payments are cost-effective, easy to use, and offer customers more flexibility and choice. If businesses like using ACH for all of these reasons, why put off implementation? Some companies simply don’t know how to set up ACH payments. Don’t let setup be a barrier. Make payments more convenient for you and the customers you serve.Why Setting up ACH Payments …

Setting Up a Successful Debt Collection Validation Notice Email Campaign

Setting Up a Successful Debt Collection Validation Notice Email Campaign

Most modern debt collection agencies are starting to use email for collection, or have it on the roadmap to implement soon. Consumers like the convenience of email and companies prefer advantages like: The cost savings of using email compared to traditional mail The possibility to reach consumers you otherwise wouldn’t Faster collection on accounts Even with the positive aspects of …

From Checks to B2B ACH: The Digital Shift

From Checks to B2B ACH: The Digital Shift

Time is money. This is especially true for financial transactions between companies, where delays cause significant losses and missed opportunities. By eliminating the hurdles of traditional payment methods, business-to-business Automated Clearing House (B2B ACH) payments create a swift, secure way to navigate modern business operations.Business to Business ACH Debit TransactionsB2B ACH refers to electronic payments made through an automated clearing …

Bulk Messages Made Easy: PDCflow’s Flow Technology

Bulk Messages Made Easy: PDCflow's Flow Technology

Have you ever used mail merge to send out lots of personalized emails at once? Now you can send bulk messages with Flow from the PDCflow app instead. Send out thousands of secure communications and payment requests at one time. Do you have a list of customers who all need your company’s updated terms? Or does your company policy for …

Transform Your Business with Embedded Payments

Embedded payment technology provides the perfect channel to streamline business operations and enhance the customer experience. In this guide, learn how adopting embedded payments can be transformative for your business.What are Embedded Payments?Embedded payment systems should be available anywhere hassle-free transactions could enhance your company’s user experience. Embedded payments integrate payment processing into a software application or a platform. Unlike …

A Checklist for Recurring Payment Processing Software

A Checklist for Recurring Payment Processing Software

No matter what business you’re in, taking payments brings more regulations you must follow. For instance, companies that use recurring payment processing services need to maintain Regulation E compliance. But how do you know when Regulation E applies to a transaction within your business? How can your payment processing software help?Recurring EFT Payments and Regulation EWhat is Regulation E? It …

PDCflow Expands ACH Processor Options

PDCflow Expands ACH Processor Options

PDCflow now offers an extensive list of ACH processing options for merchants. Through a recent integration enhancement, companies who accept ACH payments through PDCflow have access to more choices than ever before when it comes to ACH processors. Businesses may choose from any of the following check processors for their PDCflow ACH payments: Payliance ACHWorks VeriCheck (VCI) RP Solutions CheckGateway …

Storing Credit Card Information Risks and Best Practices

Storing Credit Card Information Risks and Best Practices

With so many self-serve and digital payment options available, storing credit card information is an important consideration for businesses. Is your organization storing credit card information safely? Do you know the requirements you need to follow? Learn about risks, requirements and best practices of storing customer credit card information.Why is Storing Credit Card Information a Must for Digital Payments?There are …

Credit Card on File is a Game-Changer for Businesses

Credit Card on File is a Game-Changer for Businesses

Keeping a credit card on file is a convenient best practice for companies that know they will need to take payments later, once an order has been fulfilled or work is completed.What Does Card on File Mean? Card on file (COF) transactions allow companies to capture and store payment details from customers. The details are securely stored so the business …

What is Regulation E Electronic Signature Compliance

What is Regulation E Electronic Signature Compliance

Consumer habits are hard to change. Think about when you first were introduced to online banking or online shopping. Were you hesitant? Now, these actions are commonplace. Just like online shopping, electronic signatures have become standard for payment authorizations, loan contracts and medical documents. Companies can take customer communication preferences into account, gather esignatures through a text or email, and …

Data-Driven Debt Recovery: A Proven 5-Step Email Strategy

Data-Driven Debt Recovery: A Proven 5-Step Email Strategy

Email for debt collection is more popular than ever and there are good reasons why. A thoughtful debt collection email strategy: Makes right party contact faster and easier Drives more traffic to self-serve channels, freeing up employees to do other work Saves money on operating costs by reducing postage costs Gives you more visibility into consumer engagement In an era …

Cash Flow Positive: The Ultimate Compass for Your Small Business

Cash Flow Positive: The Ultimate Compass for Your Business

In the vast ocean of business, being cash flow positive is your ultimate compass. Having cash to spend gives you more options–to expand and grow, to invest back into the organization or to share with stakeholders. Cash flow statements, profit and loss statements and other financial management reports steer these financial decisions your company makes. Explore what cash flow reports …

Text and Email for Debt Collection: Reaching Consumers Where They Are

Text and Email for Debt Collection: Reaching Consumers Where They Are

In a recent PDCflow sponsored webinar on accountsrecovery.com, a panel of digital collection experts sat down to discuss the differences they’ve encountered in text messaging and email for debt collection. Shawn Farris, Brandy Rouselle, and Chris Repholz discussed which channels they each prefer and the strengths of each. They also covered how using SMS messages together with email for debt …

Profit and Loss Statements for Business Planning and Growth

Profit and Loss Statements for Business Planning and Growth

Businesses want to make money. But how do you know if sales are good enough to keep your company profitable? There are many different financial reports organizations use to track performance. One of the most common–the profit and loss statement–lets companies: Monitor how the organization is performing and better understand profitability Assess expenses and profit trends Plan for future growth …

Small Business Financial Management Terms and Tips

Small Business Financial Terms and Tips

Small business financial management helps business owners, operators and managers know where money is being spent and how much profit is coming in. Without a background in accounting or bookkeeping, it can be hard to know the best way to manage small business finances – or even to understand the common terms, reports and tactics used. This glossary will help …

Track Payment Performance at a Glance with PDCflow Insights Reports

Track Payment Performance at a Glance with PDCflow Insights Reports

PDCflow is excited to announce the launch of our brand new Insights Report. Insights reporting is the free, enhanced reporting tool from PDCflow designed to help managers, executives, and other decision-makers better understand their organization’s payment processing.Through the Insights Report, anyone who needs access to reporting and analytics can: track payment performance monitor trends at a glance sort and view …

Hosted Payment Page Options from No Code to Low-Code

Hosted Payment Page Options from No Code to Low-Code

Customers expect companies to offer online payments. If your organization doesn’t accept online payments (or your online page is confusing, outdated, or doesn’t match your website) your business is losing money. Hosted payment pages are now a must for any company that wants to: Stay competitive Make paying easier for customers Save staff time by reducing manual work Bring in …

Creating Credit Terms for Customers

Creating Credit Terms for Customers

Companies who sell high dollar products, or offer professional services, usually ask for payment after work is done or goods are delivered. Establishing clear credit terms helps customers know what to expect during billing and teaches staff proper procedure when collecting on both B2C and B2B payments.Definition of Credit TermsCredit terms can be defined as the guidelines your company creates …

Payment Workflow Examples to Increase Business Cash Flow

Payment Workflow Examples to Increase Business Cash Flow

Payment workflows (like sending customer invoices with payment requests) are an integral part of your business sales cycle and customer experience. Many companies that accept B2B payments – or provide their goods and services before collecting payments – need to think about the full customer journey, including billing workflows.What are Workflows?A workflow is any repeatable process your business uses to …

How To Take Secure Payments Over the Phone

How to Take Secure Payments Over the Phone

Many customers still want the option to make a payment or ask questions to a live customer service agent. After all, a conversation with an employee is often the easiest way to resolve an issue. How can organizations take payments over the phone and still keep payment data secure?SURVEY SAYS:“Nearly 7 in 10 respondents (69%) said talking to a live …

What to Know About ACH Return Codes

What to Know About ACH Return Codes

Accepting Automated Clearing House (ACH) payments can provide added convenience to customers during the payment process while increasing revenue for your business. Unfortunately, no payment method is without hurdles. In the case of ACH payments, the most common hurdle to overcome is understanding and addressing ACH codes for returned payments. There are many ways an ACH transaction might get returned. …

Billing Processes: Which Option is Best for Your Business?

Billing Processes: Which Option is Best for Your Business?

An organization’s billing process can depend on the goods and services offered and the audiences served. Your company should follow best practices based on industry but there will always be room to customize and improve workflows. Reviewing the billing tactics and tools your business uses will: Save money through more efficient processes Save staff time following up on unpaid invoices …

6 Main PCI DSS Compliance Goals

6 Main PCI DSS Compliance Goals

Payment Card Industry (PCI) rules were created to ensure businesses are providing a safe digital environment for consumers to make credit card payments. Following these PCI guidelines keeps you in compliance with industry rules and also keeps you and your consumers safe from data breaches. With a larger number of employees now working remotely, understanding the basic PCI goals and …

How to Reduce Past Due Invoices

How to Reduce Past Due Invoices

When a customer pays late, it may seem like no big deal. However, if you make a habit of accepting past due invoices from customers, you’ll start to notice it in your bottom line. To keep your business healthy, you should minimize how many overdue invoices your company has open at one time. How to Collect More Past Due InvoicesFor …

7 Small Business Payment Options to Keep Customers Happy

7 Small Business Payment Options to Keep Customers Happy

Is your small business wasting employee time on things like follow up calls on unpaid bills? If you want to expand, you need to accomplish more with a small staff and small business payment options that let your team do more with less.Small Business Payments: Reasons for Late/Unpaid BillsSmall businesses need to collect every dollar possible. That’s why late payments …

PDCflow Releases Card Verify for Credit Card Transaction Authentication

PDCflow announces Card Verify for Credit Card Transaction Authentication

Validating credit card information before a transaction is submitted can eliminate failed payments. To help merchants ensure card data is accurate before a transaction is processed, PDCflow announces the new Card Verify feature. Card Verify BenefitsCompanies with too many failed credit card payments lose out on revenue and waste staff time contacting customers for alternative card numbers. This is especially …

Digital Operations Impact on Debt Collection, from Team Structure to ROI

Digital Operations Impact on Debt Collection, from Team Structure to ROI

Justin Franklin, Vice President of Global Strategy and Execution at Cedar Financial recently sat down for an interview with PDCflow’s Dawn Updike. They discussed how digital operations impact team structures and revenue, measuring ROI and more.Like other Accounts Receivable professionals, Franklin found his career by accident when he accepted a collection job after college in 2005. He has a wide …

Key Features for Secure Payment Processing

Key Features for Secure Payment Processing

In an increasingly digital world, payment processing security features in business shouldn’t take a back seat. Are you offering secure payments to your customers? Here are some of the basic features that you need for secure payment processing.PCI ComplianceBecause sensitive credit card data is so valuable when committing identity theft, businesses that take payments online are often a target for …

Business Team Structure for Digital Billing and Payments

Business Team Structure for Digital Billing and Payments

New software opens the door to easier workflow processes and simpler daily tasks. This can impact team structures and job titles or even create new responsibilities – like making sure tools are working right and providing a good return on investment. Right now, the most impactful way people are using tech in business is with digital communication. Channels like email …

Credit Card Fraud Prevention Tips for Online Payments

Credit Card Fraud Prevention Tips for Online Payments

Self-pay options increase revenue and improve the customer experience. But online payments can attract scammers too. Following basic credit card fraud prevention measures keeps both your business and your customers safe. Depending on the online payment portal your company uses, preventing credit card fraud can be mostly automated. However, your business should still understand these basic best practices on how …

2022 Year in Review: Partnerships, Customer Stories, Product Updates, and Thought Leader Interviews

2022 Year in Review: Partnerships, Customer Stories, Product Updates, and Thought Leadership Interviews

PDCflow has worked hard throughout 2022 to offer the best possible payment communication software possible to our customers. With the new year approaching, we wanted to give readers another chance to catch up on our latest partnerships, product enhancements, educational content, video interviews and accomplishments.PDCflow Partnerships and Product EnhancementsThis year, our teams at PDCflow did a great deal of work …

The Payment Ecosystem Explained: How Your Business Gets Paid

The Payment Ecosystem Explained: How Your Business Gets Paid

All companies take payments but many don’t understand how the payment industry works behind-the-scenes. The digital payments landscape is complex, and with new technologies emerging, the greater payment ecosystem continues to evolve. It’s true you don’t need to be a payment expert to run a business, manage an office or head up an accounts receivable team. However, being familiar with …

Credit Card Decline Codes: What Merchants Should Know

Credit Card Decline Codes: What Merchants Should Know

Accepting credit cards for your business has many advantages. One of the most convenient aspects is knowing instantly whether a payment was approved or declined. Rather than waiting days and dealing with a returned ACH payment, your business can know within seconds whether a credit card declined or was approved. When a card has been declined, the most common credit …

4 Key Metrics for Measuring Digital Campaigns in Accounts Receivable

4 Key Metrics for Measuring Digital Campaigns in Accounts Receivable