Having problems getting your debtors to pay up? A long debtors’ list is frustrating because it hurts your cash flow. How many hours do you waste chasing up payments from customers? What about the time spent manually allocating cash, cheque or EFTPOS payments to different invoices? One of the biggest problems with manual processes is the high chance of error. Getting things wrong leads to bigger problems and confusion with customer accounts, which can hurt your cash flow. Here are some ways to improve that –
Receive Payments Instantly with PAY NOW
Some manual payments can take days to show up in your account. Plus, you’d have to allocate every payment to an individual invoice, which not only takes hours of your time but creates mistakes.
What if you could receive payments instantly through an automated ‘PAY NOW’ button? One click and it direct debits a customer’s credit card, debit card or bank account instantly through a secure payment gateway. It also instantly reflects transactions across invoices.
Set up auto payments for repeat billing customers
If you have repeat billing customers, it is far more efficient to set up an auto payment option so that you don’t have to chase up for the same payments every time.
Setting up a regular payment schedule significantly reduces the time you spend chasing up on payments and decreases the chance of late payments, which is great for your cash flow. Plus, you wouldn’t have to keep having those late-payment conversations with your customers.
Set up automatic invoice reminders to avoid manually chasing up for payments
If a customer fails to pay their invoice on time, you could have a cash flow problem on your hands. This is why, you’ll want to remind your customers when a payment due date is approaching or if they have missed a payment.
Setting up automatic invoice reminders is a good way to avoid having to chase up manually because it wastes your time and can affect your customer relationships. Short and friendly reminders make the whole process so much easier, so you don’t have to do the hard work yourself.
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