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Paymentportals are not just for large B2C businesses any longer, B2B businesses of any size can benefit. In the evolving world of B2B transactions, the importance of paymentportals has become undeniable. By automating these processes, businesses can accelerate cash flow and focus on growth.
Ensure Buy-In From Key Stakeholders After you understand your collections team’s needs, you’ll need to present them to your CFO and any other important stakeholders to get them on board. Make it easy for customers to pay invoices. Want to learn more about Gaviti’s autonomous invoice-to-cash A/R management solution?
Pre-Qualify Customers that Present Greater Risk You may want to identify your ideal customers, such as those who have a proven payment history, are from a specific industry, who have a certain budget, etc. Its accounts receivable automation solution includes: Customer invoice distribution. Cash application.
If your business is scaling and expanding into new geographic regions, it may present challenges in collecting receivables. You’ll want to offer the right technology to ensure your customer payment data and information is secure, yet also provide a wide range of payment methods at the same rates your customers are used to.
Don’t dip too low or too high, rather find a sweet spot that provides the necessary cash flow you need to grow. How Gaviti Helps You Accelerate Your Cash Flow You gain a clearer picture of your accounts receivable process when you calculate both receivables turnover and compare it against days sales outstanding metrics.
The Benefits of an Effective Dispute Resolution Strategy By documenting your dispute resolution strategy and using an invoice-to-cash A/R platform, you can ensure that your strategy is both effective and that your entire A/R team is on the same page when it comes to dispute management. A more efficient use of time and resources.
Make paying as easy as possible by giving customers many payment options, including credit or debit cards, digital payments, check, bank transfers, etc. Self service customer paymentportals also offer another convenient payment channel that minimizes errors, encourages timely payments and improves overall customer satisfaction.
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