You can take three easy steps to make payment collections easier with emerging tech – no equipment or high cost investment needed. We know your time is valuable and better served working with clients and customers providing much needed services.
Once you have an agreement for professional services work – like bookkeeping, accounting or tax preparation, or home services – such as painting, roofing or HVAC services – getting paid is critical. Provide an estimate, establish a payment method, schedule the work, and get the job done. Before you leave, or they receive the materials, you should be paid.
However, if they have failed to pay an invoice you have mailed after the fact, it is time to reconcile and uphold their end of the deal.
Collections and closing out your accounts receivables should be low stress, easy to process and quick to reconcile. Here are three ideas you can implement quickly and without a big investment in payment processing equipment.
Tap to Pay via your Smart Phone
Do you or your team have a smart phone they use for work? You can add our new, proprietary app that will easily accept payment via credit card on site. As soon as your technician, installer or account rep has completed their appointment all they need to do is present the invoice. Offer the mobile device to simply tap and pay the balance due.
This is not only secure, it meets PCI compliance standards to keep your business and their information safe.
Text 2 Pay Where They Are
Whether you or your office staff see that work has been completed, securely send a request for payment via text. Using your billing system* you can automate the process to quickly issue the payment link via Text 2 Pay.
- Note: If you don’t have a billing system, talk to us about options for operations software you can use.
The customer can utilize their digital wallet, manually enter their credit or debit card, or set up an e-Check payment using their bank account number. Smart phones with a digital wallet and Apple Pay or Google Pay enabled are even faster for the customer.
Q/R Code that links to a Secure Portal
Adding a Q/R code that links the customer directly to a secure, online payment portal is also simple to set up and doesn’t involve any new handheld or in office equipment. You can use this on both hard copy invoices (printed and presented, or mailed) and digital invoices (e-mailed or text). The customer can access the secure payment site by following the Q/R code link and pay the way they prefer.
Another great solution is to present them with the option for budget billing. Break up the larger balances into even monthly installments. The system will remind them when the payment is due. Another option is to set up an automated recurring payment to process a payment each month until the balance is paid in full.
Take the Next Step Today
Schedule a quick call to set up new systems. Many of these options can be up and running in 24 hours. Contact your team at TransAct today to learn more.