How to speed up payment collection

We’ve seen companies find solutions during the pandemic, especially when it comes to collecting payments, and create opportunities to continue to generate revenue during the turmoil.

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We know that nearly 90% of all customers want to interact with their business by text rather than by phone, so your business is providing these services to keep up with demand. It is important to confirm.

It’s also important to create a solution that limits the amount of time employees spend collecting payments while ensuring that customers are paying. Here are three steps to ensure a smooth payment collection process:

Understand the main issues

First, you need to identify the problem you are having with your payment collection. Are your customers just not paying, or are they having a hard time contacting you? Or is the current system out of date?

You need to make sure that the customer has a way to contact you at any time. If they have a question about an invoice, it can take hours or days to play the phone tag and try to catch the customer to get the answer to that person.

With a text messaging system in place, customers can ask questions at any time via a platform connected to an existing company’s phone line and get an answer from someone on the team within minutes. I can.

You can also keep a paper trail of transactions. When the customer enters the text, the employee can withdraw the invoice, show the customer how much and when they paid, and track future invoices.

Set Text-to-Pay

Now that you understand the problem, it’s time to set up your solution. Text-to-pay may not have been possible just a few years ago, but in the wake of a pandemic, customers are now expecting companies to have this product.

Providing text-to-pay makes collection easier. You no longer have to leave a voice email or wait for a callback on the phone. You can send a text to someone in seconds and that person can respond with a payment.

The new data we collect shows that payment collection for sales and services using text-to-pay is 85% faster. why? Because people are familiar with it. Companies have adopted these systems for pandemics, reducing face-to-face interactions, and customers love it.

It also shows that texting and texting can save businesses 45 minutes on sales and service with each customer interaction. Service workers can send updates to customers via text in seconds, and customers save a lot of time by filling out their own text-to-payment forms.

Reduce the burden on employees

Providing text-to-pay can reduce the burden on employees who have to use phone tags to get their customers to pay. If the customer has to complete the transaction himself, there will be less confusion about where the credit card information comes from and how to pay.

Another interesting piece of data shows that 91% of customers prefer to pay once they start using textbooks. This means that most customers really like text-to-pay more than any other payment method as soon as they start using it.

Over the last two years, customers have been drawn to new forms of technology that help make everyday life simpler. Text-to-pay is an easy way to meet your customers where they want and get them to collect payments quickly.

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Ben Leighton is a content marketing specialist at Kenect. He has previously worked in the journalism industry for over a decade, creating multimedia content on a variety of platforms. Ben can be found on LinkedIn and Twitter.

Kenect helps businesses connect with their customers. Create an elegant and easy-to-use simple text messaging tool.Thousands of North American companies use our platform Send text to customer, Generate online reviews, collect leads from websites, video chats, and collect payments. Our team, based in Silicon Slope, Utah, is committed to helping businesses improve their customer experience and communication. For more information on Kenect, please visit: kenect.com Alternatively, please contact us at (888) 972-7422.

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