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 …
4 Key Metrics for Measuring Digital Campaigns in Accounts Receivable
Every debt collector knows the struggle of getting consumers to answer their phones. Digital campaigns can better engage people who want to pay without requiring them to answer a call. But you need to collect certain key metrics to know these new tactics are working. Collecting and analyzing your data will help you understand how your business is performing and …
Innovative Digital Workflows: One Company’s Creative Solution
Businesses now have so many software choices it can be overwhelming to decide what systems to use. Technology should make doing business easier and create a better digital workflow for both staff and customers. Some of your systems, like your customer database, gamification tools or training programs will never be seen by the public. But others like the tools that …
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 …
Automation Solutions: How to Identify Areas of Opportunity in AR
How much of your staff’s time is spent doing repetitive tasks? How much of that time could they devote to more important issues? Automating these simple processes streamlines day-to-day responsibilities. If you manage operations for your call center, collection agency or office, identifying automation solutions that will impact your business should be a priority.Why Look for Automation Solutions?Why are automation …
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 …
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 …
Leverage Technology to Grow Your Accounts Receivable Business
It’s hard to imagine adding more unknown factors to the uncertain future of running a business this year. Thinking about your company’s growth at this time may even be scary. The fact is, though, you should embrace this time of disruption to prepare your business for an even stronger future. The easiest starting point is to leverage technology to optimize …
Digital Payment Services for AR Business Continuity
Digital payment services were once preferred payment methods for consumer convenience. With the developments of COVID-19, social distancing and the need for remote offices, self-serve digital payment services – like online payments – are now a necessity. Consumers need ways to pay that keep all parties safe while maintaining business continuity. Here are the features you need to move your …
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 …
