Getting clients to pay sooner can appear unimaginable. That is the place YayPay is available in.
Half 1 of this weblog submit collection outlined precisely what’s so particular about YayPay’s consumer expertise. From the know-how’s unparalleled customization capabilities to its close to flawless uptime that ensures it’s at all times working if you find yourself.
Improved management of your AR administration? Verify. However what in regards to the seemingly unimaginable activity of controlling buyer fee pace? Properly, it seems that YayPay has some fairly useful options for that as properly.
One in all a sort
We’re just a little 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 e mail, print and postal mail and thru our self-service fee portal.
Let’s check out what meaning on your workforce, your clients and your money movement.
Tailor-made bill supply
Even within the age of digital experiences, e mail bill reminders can bounce, be missed or ignored. This results in an extended tail of invoices and the chance of late funds.
With YayPay, you possibly can tailor your bill supply technique to fit your clients. Whether or not you wish to ship paperwork electronically, through bodily mail, or each, YayPay allows you to meet your clients the place they’re. This mitigates fee threat and drives first-class buyer interactions.
Each group sends a proportion of invoice-related communications by submit. With YayPay, you possibly can scale back the guide work concerned in sustaining two separate processes — bodily mail and e mail invoicing — and monitor all communications within the YayPay platform. You may also 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 appeal to 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 simpler it’s on your clients to make funds, the extra possible they’re to settle invoices on time. After we’re making a purchase order in our private lives, we don’t anticipate to come across obstacles that make it tough to finish the transaction. If we did, we’d possible abandon our makes an attempt to pay.
But in accounts receivable, this occurs recurrently. It may be as primary as clients not having easy accessibility to their account particulars, which ends up in them frustratedly calling you for steadiness updates and copies of invoices. Or maybe they aren’t in a position to pay through their most well-liked fee channel. These situations scale back the chance 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 in a position to make the most of fee choices, supplied through wire, ACH and bank card. And, for these clients working remotely, they’re in a position to entry it at any time, from anyplace.
This protects hours of labor executed by your already overloaded AR workforce, and on the identical time permits your clients the flexibleness to handle their enterprise on their very own phrases. Somewhat than scheduling calls throughout your service hours, they’ll depend on 24/7 availability of their account data. The consequence? A rise in on-time funds and money movement for your corporation.
A localized expertise
EY analysis revealed that worldwide fee flows will attain USD$156 trillion this yr. 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 progress alternative.
With the ability to present a localized expertise to your clients, wherever they’re on the planet, is transformative. It’s not merely about having the ability to settle for worldwide funds. It means providing the identical versatile fee choices reminiscent of ACH, wire or bank card, and guaranteeing that clients aren’t saddled with excessive international 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 fee answer 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 foreign money and language, guaranteeing that service is at all times customized. This goes a great 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 possibly can belief
Do you know that solely 27.9% of organizations globally are in a position to make sure full PCI compliance? Which means virtually 3 out of 4 companies don’t totally meet safety requirements — the identical requirements which can be liable for defending buyer fee information!
Prospects have to know that their data is protected always when making funds. In fact, YayPay’s fee 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 fee course of
Wish to see how YayPay works? Our AR specialists are simply one click on away.
Or, should you’d wish to study extra about YayPay from considered one of our clients, save your seat for our upcoming webinar under!
