This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
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. Beyond operational efficiency, a client paymentportal enhances your organizations professionalism.
To achieve this goal, you will need to consider a number of factors, including the types of payments your company accepts and the channels customers use to make purchases. In this article, we present 10 tips that can help you boost customer paymentportal adoption.
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. Offer a range of payment methods and, if available, a link to your customer paymentportal from the invoice itself.
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. Make sure everyone who needs access to the process receives proper training. 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.
To foster patient adoption, organizations must take a people-first approach, treating patients like humans and communicating with them in a way that makes them feel heard, understood and empowered to use new tools such as patient paymentportals and show up to their appointment with less stress. Be consistent with messaging.
By charging an additional fee for using a certain type of credit card, businesses can effectively recoup the costs associated with accepting electronic payments. Processing fees can also be lowered when customers are presented with the option to pay by cash or debit instead of credit.
Pitfalls of Receivables Turnover and Days Sales Outstanding Both receivables turnover and days sales outstanding present a few glaring challenges that collection managers need to address for accurate reporting and financial forecasting.
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.
It also enables you to easily filter and view invoices according to each customer, number of disputes, or as an aggregated view of all invoices and manage their payment within the paymentportal.
Each of these areas presents its own challenges, but with the right data and tools, accounting teams can play a critical role in helping their organizations keep more customers and grow profits. So how can accounting teams help their organizations retain more customers?
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content