As an IT provider, you are often inundated with publishing updates, responding to support requests and maintaining other customer requests and complaints. Since a majority of the technology sector has switched over to a subscription basis, invoices often need to be sent out on a regular basis to tons of customers. Attempting to do this manually, on top of all the other tasks that are needed to be done, can seem almost impossible. In order to properly manage accounts receivable as an IT provider and get paid on time, many businesses are turning to automated accounts receivable software.
Below are a few ways IT providers benefit from automated accounts receivable software.
When you’re dealing with support tickets and constant requests for upgrades, many customer use these ongoing issues in order to not pay. This often puts a majority of your invoices in dispute. When using an automated accounts receivable software, IT providers can more easily manage these disputes with automated alerts, automated escalations and dispute codes. On a regular basis you can assess the most commonly used dispute codes to try and prevent future disputes.
One of the biggest complaints among customers of any tech or IT company is that they suffer from bad customer service. By using an automated accounts receivable software, you can eliminate this issue. All customer conversations, whether by email or live chat are directly saved and stored in the software. Any phone calls made can be logged and notes can be taken against the record. When you have to reach out to a customer, you can have all previous communications in front of you so you know who you’re talking to and what about.
Online Bill Pay
No matter what industry you are in, online bill pay is one easy way to start collecting payments faster. Customers are not burdened by sending a paper check in the mail. Instead they can instantly pay via ACH or credit card in a secure, online portal. Many customers prefer to self-service their bill online instead of taking the time to call or mail out a check.
As IT providers, you understand the importance of security. Automated accounts receivable software, such as Lockstep Collect, offers a secure cloud-based solution through Microsoft Azure. Since it is maintained by Microsoft, it is guaranteed to be accessible and secure anytime and anywhere.
IT Providers need to collect on every single one of their invoices, unfortunately, a majority of disputed invoices will never be collected on their full amount. These invoice disputes need to be dealt with quickly, while providing customer service through past communications. Using an automated accounts receivable software for IT providers makes the process of collecting on accounts receivable easier and more efficient.