Think back to the last time you made a payment online, whether it was a payment for your company or something in your personal life. Was it easy for you or did it feel like you were jumping through hoops to get it done? Personally, the last payment I made I had to struggle to complete on 2 different devices! When none of the links wanted to work through my mobile device, I switched to the desktop. Now, this was an item I really wanted, but imagine if I was just trying to make a payment to a vendor for my company. I probably wouldn’t have had all the patience in the world. Maybe I get distracted by a co-worker asking questions, or I am just really busy that day and don’t have time to sit back and try to figure out how to get the website to work properly.
When a website isn’t working properly, or a customer feels like they have to fill out a million forms just to make the payment go through, they will most likely give up and tell themselves that they will try later. However, sometimes never doesn’t come for a while because they get busy or forget. This is why we need to make the online payment option as smooth as possible for customer, encouraging them to complete the transaction and get your company paid on time.
So, how do you make your online payment process easier? Below are a few ways that you can remove the online payment hurdles and get your customers paying you immediately.
As mentioned earlier, making your customer jump through hoops to make a payment isn’t helping anyone. If your customer tries to log on to your site and can’t remember their email and password or has to create an account to get in, you’re creating more online payment hurdles. One way to get rid of these issues is by creating unique and secure portal links. When you send out the email asking customers to pay online, it takes them directly to their account and their account information – no signing in required. You also have control over how long that link remains active, to keep the process even more secure.
Automated payments allow your customers to save their credit card or ACH information, so they don’t have to type it in every time they go to make a payment. This eliminates issues with a customer going to make a payment, but they have to wait to find someone with a company credit card. Just one time it needs to be added in, and then the payment selection is easily made the next time around. This also allows for recurring payments to be automatically pulled from the credit card or ACH, if the customer chooses so. Now, all hurdles to make payment are removed once the customer has completed the initial set up.
ACCOUNTS RECEIVABLE SOFTWARE
Why try to create and set up all of these options on your own, when many accounts receivable software solutions have them available right out of the box. Additional online payment hurdles can be eliminated when using A/R software like sending out emails automatically, so the link is automatically generated for the customer or automated reminders so if that customer did leave the payment page, they are being followed up on quickly and payment is not forgotten.