We work hard in the gym to strengthen our core and tone our “specialty” muscles.
Occasionally, your billing and payment process could use similar cross-training to stay in tip-top shape. To help trim the fat, add these three billing exercises to your work out plan to increase electronic payments, improve customer satisfaction, and maintain a steady cash flow.
Trim the fat
Many companies still rely heavily on the US Postal Service to send bills and receive payments. Sending a majority of bills by paper is like being at the gym ready to work out when every treadmill is already taken. Your billing is being delayed. This is time consuming and unproductive. Migrating your customers to electronic methods is a sure way to trim the fat and improve your cash flow.
Provide your customers with plenty of electronic options, including a biller direct site, consolidated billing site, email, or mobile. The more options you give your customers to transact with you electronically, the more likely they will make the switch.
Utilize what's offered
Once you start driving more electronic behavior, add an extra set in your work out by accepting online payments. This will help your billing process become leaner and make your life a lot easier.
I recently joined a new gym. While researching, the trainers talked about the benefits of what the gym would offer and how they would help me reach my fitness goals. Organizations should look at billing service providers as your personal trainer providing you with different exercises to strengthen your process.
Take advantage of eAdoption programs, training sessions, and all the technologies being offered to you to increase online payments.
Track your progress
Measuring the progress of your billing process is essential for continued growth. For instance, Billtrust provides our customers with a “score
Measuring ensures you reach your target goals, ultimately making your business bigger, better, and more profitable.
Focus on these three tips and your billing process will be in shape in no time!