When it comes to receivables, the easier it is for customers to make payments, the faster the merchant will get paid. One great way to improve the bill paying process for customers is to give them access to a payment portal where they can view and pay their outstanding invoices. Online payment portals offer customers 24/7 access to their account and give them the ability to manage their payment information and make payments on their own.
Our customer payment portal offers many features to help you automate your accounts receivables process, including new invoice notifications, payment reminders, one-click payment links, and more. In this spotlight article, we will be focusing on the portal’s features that help create flexible payment options. Offering more ways to pay can help you get paid faster while providing added convenience to your customers.
Payment Term Discounts
You can add payment term discounts to invoices within the portal to encourage customers to pay their invoices earlier. Typically, companies using payment terms will apply a small discount to an invoice if it is paid in advance of the due date. By offering payment terms, customers will be encouraged to pay their invoices early, resulting in faster cash flow and reduced Days Sales Outstanding (DSO). Our customer payment portal will automatically apply any available discount to the invoice(s) on the portal, which customers will then be able to view. If you are using one of our integrated solutions, the discount will automatically be applied within the accounting system as well.
Oftentimes, customers want the ability to manage their own credit balance with your company. With our customer portal, customers are able to apply their available credit balance to their invoices while making payments. This increased visibility and control over their account will improve the customer’s overall experience during the bill paying process.
Customers can sign up for automatic payments so that invoices can be paid on a recurring basis without human intervention. With automatic payments, customers can rest easy knowing their bills will automatically be paid each month. Our customer portal allows you to configure the automatic payment rules, so customers can easily sign up for automatic payments with the terms that work best for your company.
For more details on our customer payment portal or to schedule a demo, contact us today: 909-482-4701 or firstname.lastname@example.org.