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 …
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 …
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 …
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 If your organization doesn’t accept online payments (or your online page is confusing, outdated, or doesn’t match your website) your business is losing money.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 …
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 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 …
Email Deliverability and Your Payment Communication Strategy
How confident are you that payment reminders, invoices and other business communications are making it to the inbox? Email deliverability is how your emails consistently end up in the right place. Do you know what steps vendors take to ensure customer communications work the way they need to?Email as a Digital Payment StrategyEmail is an essential channel for customer engagement. …
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 …
Payment Negotiation Tips for Past Due Accounts
It’s never a bad time to learn new debt negotiation tips or refresh yourself – and your team – on the best practices for negotiating payments on past-due accounts. Accountsrecovery.net hosted a webinar with three credit and collections experts to discuss payment negotiation tips for accounts receivable teams:Beth ConklinAccount Executive State Collection Service, Inc.Mike HillerVice President of Collections American Profit …
3 Tips to Decrease Outstanding Invoices and Collect More Late Payments
Updated July 2022 Running a business comes with many internal and external concerns, from training and team management to focusing on brand reputation. But if your company has excessive outstanding invoices, cash flow will stall and the health of your business will suffer. Decrease late payments from customers, keep revenue flowing and free yourself up to focus on other aspects …
How To Create a Credit Policy and Past Due Collection Procedure
Last updated February 2023 The blueprint most businesses use to collect on accounts receivable is called a credit and collection policy. The guidelines are typically broken into two sections: a credit policy and a past due collection procedure. The framework can be as detailed or as broad as is necessary for your office. Providing this direction to your employees is …
