3 Ways Your Customers can have a Great Payments Experience
2 Peas loves exploring the best of the breed of Add-Ons that extend functionality to core accounting platforms like MYOB, Xero and QBO. One of our valued add-on partners ezyCollect has not only helped our business but also many of our clients with their debtor management solution.
Many successful businesses already know this—focus on service and the sales will follow. The service-over-sales approach can extend to every customer touchpoint, accounts receivable included. It makes sense. Paying bills can be a painful process for your customers. So why not make it easier?
The key to a great payables experience for your customers is to make paying quick and easy. Our partners at ezyCollect are always on hand to offer their specialist advice:
1. Enable Click and Pay on Invoices and Reminders
Your invoice is your primary collection calling card. It’s prime real estate and it’s often underutilised. Optimise it with a Pay Now button. To do that, you need to integrate with an online payment gateway so that customers can click to pay, then enter their credit card details in one seamless flow.
The ‘Pay Now’ button becomes your clear call to action. It takes your invoice from a passive document filed to the ‘later’ pile, to an active document that generates payment.
Every marketer will tell you that if you want people to take action, you should be clear about what you want them to do e.g. ‘Click Here’, ‘Register Now’, “Sign up Today.’‘Pay Now’ works in the same way to help your audience find their way.
Tip: Make sure your Pay Now button works on mobile, too.
2. Allow Self-Serve Checkout
Everyone wants to work at peak productivity and that includes your customers. Your accounts department’s availability could be restrictive to your busy buyers, especially at end-of-month when your team is tied up on the phone accepting payments.
The best self-serve checkouts accept your customer’s credit card payment at any time of day or night. Your office can be closed or your phone line busy, but you’re still collecting money.
ezyCollect’s payment portal allows suppliers to digitally present their buyers with:
● A list of all open invoices
● The option to pay multiple invoices in a single payment
● A line item description to reference every invoice
● A query function to start a conversation
● A payment transaction history
3. Offer Pay Later, Get Paid Straight Away
Pay later for B2B transactions is in its early stages but expect your customers to be asking for it soon. Why? Because it essentially gives buyers a line of credit that extends their payment terms. A third party financial provider approves a line of credit for your credit-worthy customers and your customers pay back in instalments.
The best news? You get paid straight away.
Even better? Your business is off the hook for default risk. The financial provider takes on the credit and non-payment risk. And your business no longer needs to chase late payments or defaulting customers.
ezyCollect’s payment portal offers debtors a Pay by Instalments plan from their invoice and in-app, that is, as customers are viewing and considering their payment options. A cashflow solution that works for you and your customers is always a great idea.
B2B buyer expectations are changing the game for accounts receivable. Are you prepped to play?
To learn more about ezyCollect’s comprehensive solution for accounts receivable management, please contact Winston Song at partners@ezyCollect.com.au or call 0477 331 855 and tell them you’re a 2 Peas valued client.