Are your accounts receivables still reliant upon checks? Are your business processes still heavily manual, receiving payments by mail and dependent upon teams to prepare deposits and reconcile manually? Several macro-economic trends indicate that organizations now, more than ever, should be utilizing electronic payments. Not only to minimize manual processes and reduce costs, but to please customers who prefer the convenience. The added bonus of getting paid faster will delight finance teams who are focusing on cash flow.
Your customers want to pay you how they want, when they want, and where they want... And of course, they want the process to be as easy as possible. Whether it's choosing to accept alternative payment methods, allowing customers to pay invoices by ACH or credit card, or issuing and accepting gift cards on purchases, the more opportunities that exist to generate sales also presents the threat of increased manual processes and potential for more human error for your finance teams. Automation, however, eliminates these threats and allows you to offer a more customized user experience, in which your customers pay you according to their terms. Your Accounts Receivable process is a great place to start when looking to increase efficiencies across your business, while giving your customers what they want.
We all know the iconic scene in Friends when Ross and Chandler navigate a tight staircase with a large couch. Right now, many businesses are also yelling "PIVOT" as they transition multiple aspects of their business model in short order. For many businesses, it's pivoting to a work-from-home routine and ensuring their employees have what they need to accomplish their daily tasks and continue to be successful in their roles. For other businesses, its more extreme by pivoting their order and fulfillment process. Brick and mortar retailers are the most common example, who in many cases have had to shift to an online ordering and delivery system where one may not have existed before. And then there are the most extreme cases where manufacturers, distributors and retailers have shifted the very product set they make and/or sell to accommodate the changing demands of society. Through all these quick pivots, it's crucial to not "break the couch" and ensure critical pieces - like customer payments - aren't broken or lost in the process.
Are you looking for better ways to collect payments from your customers? Would you like to reduce paper invoices and increase customer self-service? Do you want a payment system integrated with Dynamics 365 Business Central? ChargeLogic’s Payment Portal gives your customers access to an easy-to-use online portal to view, pay, and manage invoices quickly and securely. Our integration with Business Central means all payment details show up in your system automatically.