Getting clients to pay sooner can appear not possible. That is the place YayPay is available in.
Half 1 of this weblog submit 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 at all times working when you’re.
Improved management of your AR administration? Examine. However what in regards to the seemingly not possible job of controlling buyer cost velocity? Properly, it seems that YayPay has some fairly useful options for that as properly.
Considered one of a form
We’re a bit pleased with this…
Do you know that YayPay is the one complete, built-in platform that gives digital bill presentment and cost (EIPP), collections, credit score and money software? This allows you to flexibly handle your consumers throughout all channels of communication, together with electronic mail, print and postal mail and thru our self-service cost portal.
Let’s check out what which means in your group, your clients and your money move.
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’ll be able to 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 cost threat and drives first-class buyer interactions.
Each group sends a proportion of invoice-related communications by submit. With YayPay, you’ll be able to 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. You may also arrange a worldwide rule that routinely transfers consumers to a postal workflow if that is their most popular communication channel. This can assist entice consideration from consumers because it seems to be extra “official”. And extra consideration means fewer late funds.
Present-stopping self-service
It’s a fact self-evident that the better it’s in your clients to make funds, the extra probably they’re to settle invoices on time. Once we’re making a purchase order in our private lives, we don’t anticipate to come across obstacles that make it troublesome to finish the transaction. If we did, we’d probably abandon our makes an attempt to pay.
But in accounts receivable, this occurs frequently. It may be as fundamental as clients not having quick access to their account particulars, which ends up in them frustratedly calling you for stability updates and copies of invoices. Or maybe they aren’t capable of pay by way of their most popular cost channel. These situations cut back the probability of your clients paying on time — and even in any respect.
YayPay’s self-service cost portal solves these challenges. Prospects can immediately see present and overdue invoices, stability due updates and cost historical past. They’re additionally capable of reap the benefits of cost choices, supplied by way of wire, ACH and bank card. And, for these clients working remotely, they’re capable of entry it at any time, from wherever.
This protects hours of labor achieved by your already overloaded AR group, and on the identical time permits your clients the pliability to handle their enterprise on their very own phrases. Slightly than scheduling calls throughout your service hours, they will depend on 24/7 availability of their account info. The end result? A rise in on-time funds and money move for your online business.
A localized expertise
EY analysis revealed that worldwide cost flows will attain USD$156 trillion this yr. In case your cost course of doesn’t have the aptitude to handle cross-border transactions or supply multi-currency choices, you’re lacking out on an enormous progress alternative.
Having the ability to present a localized expertise to your clients, wherever they’re on the planet, is transformative. It’s not merely about with the ability to settle for worldwide funds. It means providing the identical versatile cost choices equivalent to ACH, wire or bank card, and guaranteeing that clients aren’t saddled with excessive overseas trade 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 cost answer that gives worldwide payers with a streamlined expertise, saving distributors and clients money and time. Flywire allows customers to ship cost requests to clients of their native forex and language, guaranteeing that service is at all times personalised. This goes a good distance towards constructing belief and loyalty with clients and has a huge impact on how they deal with the seller in return (did anybody say “sooner funds”?).
Safety you’ll be able to belief
Do you know that solely 27.9% of organizations globally are ready to make sure full PCI compliance? Which means that virtually 3 out of 4 companies don’t totally meet safety requirements — the identical requirements which are accountable for defending buyer cost information!
Prospects want to know that their info is protected always when making funds. After all, YayPay’s cost portal is totally PCI-DSS compliant, following the 12 broad necessities and 200 line-item necessities said on the PCI Safety Requirements web site. We all know it’s not essentially the most glamorous profit, however our clients would miss it if it wasn’t there!
Time to excellent your cost course of
Need to see how YayPay works? Our AR consultants are simply one click on away.
Or, should you’d prefer to be taught extra about YayPay from one in all our clients, save your seat for our upcoming webinar beneath!