Automate Payment Collections with Email Payment Links
The idea of going paperless has been floating around for a few decades. In 1975, an article in Business Week first conceptualized the idea of building a paperless office in “The Office of the Future.” Back then, paperless invoicing was merely a pipe dream, but now that we live in the Internet age, we can finally take advantage of paperless invoicing.
In order to mark an invoice as paid, businesses must go through a lengthy payment collections process. You need to create invoices in your accounting software, ask for payment, and then record payments. This can be a very frustrating and time-consuming process.
Email payment links give you the freedom to email invoices to customers. Your customers can then pay their balances by clicking a link in the email that takes them to a secure online payment form. Once they complete the transaction, they’ll receive a receipt and the payment will sync back to your ERP or accounting software.
Use a payment integration, such as EBizCharge, that offers email payment links. Not all integrations provide them, so make sure to do some research first.
Stop manually sending out multiple PDF invoices a day
Email pay eliminates the extra work involved in the collections process and makes it easier for your customers to pay. Each email payment is linked to a specific invoice, so there’s no need to go back and manually select each invoice, and it will be easy to see which invoices have been paid and which ones are still pending. You can even send friendly email reminders straight to your customers’ inboxes.
With email payment links, you do not have to manually enter each payment into your accounting software. You simply import payments back to your accounting software and apply them with one click. No more double data entry or spending hours on administration.
Collecting payments can be stressful, and oftentimes you must reach out several times to request a payment. Email payment links allow you to use pre-written templates to send email invoices quickly and efficiently. Plus, you can create a series of email templates to send out at certain intervals. With email payment links, you can simply send the template off and move on with your day.
Email payment links increase efficiency by keeping all your work in one place. You send the email template from your accounting software, so you don’t have to disrupt your workflow by switching between programs or taking time to compose each email.
Email invoicing reduces the amount of manual data entry you must do by allowing you to import payments back to your accounting software and apply them to invoices with a single click. This cuts down on the potential errors and simplifies your workflow, as it eliminates the need to switch between programs.
Offer your customers easier ways to pay you
Email payment links are also convenient to customers because they offer access to invoices at any time. Customers are no longer restricted to business hours to pay an invoice. They can simply pay their invoices whenever they have time – whether that’s lounging in their favorite recliner, driving and texting, or trying to get reception at the top of a mountain.
Ditch those non-compliant card authorization forms
Paper authorization forms are risky, inefficient, and reduce profits daily. Plus, customers don’t like them. Switching to online forms helps you avoid non-compliance fees.
A payment integration that utilizes the most up-to-date security measures will not only keep your customers’ information safe, it will save you money too. The more information a transaction includes, the more secure it is. And the more secure a transaction is, the lower the processing fee.
Look for a payment integration that uses data encryption and tokenization, stores sensitive data off-site, and offers a PCI-compliant payment gateway that can qualify credit card transactions at Level 3 processing rates.
Look for ERP/accounting integration for complete AR automation
In addition to email payment links, merchants who use EBizCharge can accept payments directly in their ERP or accounting software, have next-day funding options, and receive a simplified statement every month with transparent fees. There are no contracts, no setup fees, and no maintenance fees.
Your collections process doesn’t need to be stressful or inefficient. Use a payment integration, such as EBizCharge, that offers email payment links to improve your workflow, increase your efficiency, and take the stress out of collections.