How Automating Payments from Customers Can Help Your Business
Sending recurring monthly invoices is a time consuming process and can often be frustrating going through the paper trail to ensure all the payment details are correct. However, there are better ways to improve your payment system by automating your customers payments. Automating your customers payments has never been simpler and will save you a massive amount of effort. By integrating direct debit, recurring and subscription payments into your existing accounting software, you will save you hours of administrative time, reduce the cost of the administration and will leave you more time to focus on your business.
Benefits of automating business payments
- Timely business payments – Automating your payments will help maintain a steady cash flow for your business as well as giving your customers the ease of payment immediately from an automated invoice. It couldn’t be simpler for you customers, by setting up a direct debit integrated into your invoice making the payment directly into your account on time, every time.
- Improve the efficiency of your business – Another benefit of automatic payments, is that it increases the efficiency of the payment process. You can automate the raising of invoices in bulk to send to your customers at scheduled times. It also reduces the manual work process of raising invoices and time spent chasing customers for payments.
- Security and safety of transactions – Cyber crime and fraud can affect businesses of all sizes. By reducing the entry points in which criminals can harm your business or access your customers data has never been more imperative. By using a trusted and secure payment system for your automated payments will keep the entire process safe, secure and will maintain the integrity of your business.
- Reduce your overheads – Save money on printing and sending out invoices in the post. Automation will also free up more time for your employees who are not spending time creating recurring invoices or payments.
- Add surcharges to payments – Our automated payments allow you to add any transaction or late fees to your customer’s invoices and payments. When your customer pays their invoice the transaction charges are automatically included to the invoice.
- Reduce payment errors – When you opt for automatic payments, the system automatically reduces the work of repetitive manual data entry and the administrative costs associated. There is less chance of merging a payment with the wrong invoice or incorrectly invoicing the wrong customer. Fewer errors mean you will always be paid the right amount and will reduce customer payment queries.
- Business reliability – Automated payments ensure that invoices are sent on time and to the right people. This ensures that you get payment from your customers quickly. There are additional features such as discounts for early payments which will also improve customer relations.
There are many features and cost benefits of automating a business’s recurring payment, billing and subscription system. The low costs to automate your system will quickly bring in a return on your investment and the security of working with a trusted payments provider.
Ready to get payments for your business? Start with IntegraPay – Australia’s business payments specialists.