Getting clients to pay sooner can appear not possible. That is the place YayPay is available in.
Half 1 of this weblog put up collection outlined precisely what’s so particular about YayPay’s person expertise. From the know-how’s unparalleled customization capabilities to its close to flawless uptime that ensures it’s all the time working when you find yourself.
Improved management of your AR administration? Examine. However what in regards to the seemingly not possible activity of controlling buyer fee pace? Nicely, it seems that YayPay has some fairly useful options for that as nicely.
One in all a form
We’re a bit of pleased with this…
Do you know that YayPay is the one complete, built-in platform that gives digital bill presentment and fee (EIPP), collections, credit score and money software? This allows you to flexibly handle your patrons throughout all channels of communication, together with electronic mail, print and postal mail and thru our self-service fee portal.
Let’s check out what which means on your crew, your clients and your money movement.
Tailor-made bill supply
Even within the age of digital experiences, electronic mail bill reminders can bounce, be missed or ignored. This results in a protracted tail of invoices and the probability of late funds.
With YayPay, you may tailor your bill supply methodology to fit your clients. Whether or not you need to ship paperwork electronically, by way of bodily mail, or each, YayPay allows you to meet your clients the place they’re. This mitigates fee danger and drives first-class buyer interactions.
Each group sends a proportion of invoice-related communications by put up. With YayPay, you may cut back the guide work concerned in sustaining two separate processes — bodily mail and electronic mail invoicing — and monitor all communications within the YayPay platform. It’s also possible to arrange a worldwide rule that mechanically transfers patrons to a postal workflow if that is their most well-liked communication channel. This may also help entice consideration from patrons because it appears extra “official”. And extra consideration means fewer late funds.
Present-stopping self-service
It’s a reality self-evident that the better it’s on your clients to make funds, the extra possible they’re to settle invoices on time. Once we’re making a purchase order in our private lives, we don’t count on to come across obstacles that make it troublesome to finish the transaction. If we did, we’d possible abandon our makes an attempt to pay.
But in accounts receivable, this occurs frequently. It may be as fundamental as clients not having easy accessibility to their account particulars, which results in them frustratedly calling you for steadiness updates and copies of invoices. Or maybe they aren’t capable of pay by way of their most well-liked fee channel. These cases cut back the probability of your clients paying on time — and even in any respect.
YayPay’s self-service fee portal solves these challenges. Prospects can immediately see present and late invoices, steadiness due updates and fee historical past. They’re additionally capable of make the most of fee choices, offered by way of wire, ACH and bank card. And, for these clients working remotely, they’re capable of entry it at any time, from anyplace.
This protects hours of labor executed by your already overloaded AR crew, and on the similar time permits your clients the pliability to handle their enterprise on their very own phrases. Slightly than scheduling calls throughout your service hours, they’ll depend on 24/7 availability of their account info. The outcome? A rise in on-time funds and money movement for your online business.
A localized expertise
EY analysis revealed that worldwide fee flows will attain USD$156 trillion this 12 months. In case your fee course of doesn’t have the potential to handle cross-border transactions or provide multi-currency choices, you’re lacking out on an enormous development alternative.
Having the ability to present a localized expertise to your clients, wherever they’re on this planet, is transformative. It’s not merely about having the ability to settle for worldwide funds. It means providing the identical versatile fee choices equivalent to ACH, wire or bank card, and guaranteeing that clients aren’t saddled with excessive international change charges once they settle a invoice. Many AR options nonetheless don’t allow this.
Embedded in YayPay is the Flywire know-how, an easy-to-use fee resolution that gives worldwide payers with a streamlined expertise, saving distributors and clients money and time. Flywire allows customers to ship fee requests to clients of their native forex and language, guaranteeing that service is all the time personalised. This goes a good distance towards constructing belief and loyalty with clients and has a big effect on how they deal with the seller in return (did anybody say “sooner funds”?).
Safety you may belief
Do you know that solely 27.9% of organizations globally are in a position to make sure full PCI compliance? Which means that nearly 3 out of 4 companies don’t totally meet safety requirements — the identical requirements which can be accountable for defending buyer fee knowledge!
Prospects must know that their info is protected always when making funds. After all, YayPay’s fee portal is totally PCI-DSS compliant, following the 12 broad necessities and 200 line-item necessities acknowledged on the PCI Safety Requirements web site. We all know it’s not probably the most glamorous profit, however our clients would miss it if it wasn’t there!
Time to excellent your fee course of
Need to see how YayPay works? Our AR consultants are simply one click on away.
Or, if you happen to’d wish to be taught extra about YayPay from one among our clients, save your seat for our upcoming webinar under!
