Customers want the flexibility and convenience of self-service. They want to be able to work remotely, and not be tied to your office hours. Customers want to work wherever and whenever it suits their needs. Self-service gives them that capability. Offering a self-service portal makes your company easy to do business with.
Self-service payment is a natural extension of office automation. It gives your customers a stake in the business process, and saves time and reduces costs for you and your customers. Self-service payments are safe and increase efficiency for both you and your customers.
Safe for Customers
Self-service payments that are Payment Card Industry (PCI) compliant meet PCI’s Data Security Standard, which protects cardholder data. This eliminates a security concern which may deter some customers from using a self-service portal.
Eliminates Data Entry
When customers use your self-service portal to make payments, they enter the data eliminating the need for your AR team to key in the payment information. The data entered in your self-service portal is automatically fed to your systems for processing and application.
This eliminates tedious clerical work. The time saved can be spent on higher priority AR activities.
Fewer Phone Calls
Your AR team will have fewer phone calls to handle when your customers make payments through your self-service portal. This saves time and eliminates the opportunity for errors in transcribing and entering payment data.
Accelerates Cash Flow/Eliminates Paper
Electronic payments made through your self-service portal accelerate cash flow compared to payments made by check. They also eliminate the time and cost of processing payments by check.
Customers also benefit by using your self-service portal.
- Work remotely – A self-service portal facilitates working remotely. With a portal there is no need to be tied to the office.
- Convenient – With a self-service portal customers can work when it suits them best.
- Efficiency – Customers save time when they don’t have to call your team to make a payment. Customers who pay by check eliminate the time and cost of processing and mailing a paper payment.
Self-service is a natural extension of AR automation. It gives your customers ownership in the business process, and saves time and reduces costs for all concerned. Automating credit and collections activities helps to increase profits, cash flow and shareholder value.
Lockstep Collect, a leader in cloud-based credit and collection platforms, can help you collect cash in 4 ways:
- Cloud-based solutions
- Automated customer communications
- Customer self-service
- Collections Activity Management
Lockstep Collect is an experienced software partner that can help you maximize your collections and cash flow in the new normal.
If you would like to learn more about how you can benefit from automated credit and collection solutions, please contact Lockstep Collect at www.lockstep.io.
