the benefits of using payment collection software
Protect the image of your brand
Only send reminders for invoices that are actually past due:
Sending a payment reminder to a customer who has already paid is a major mistake that can lead to uncomfortable situations in the sales department. Certain collection departments can be very slow or even paralysed out of fear for this risk.
As a result, a lot of time is often wasted figuring out which customers need reminders. Thanks to the CashOnTime collections software, you will know the exact number of invoices that need reminders from one day to the next. You will save a lot of time and will be able to process a much greater volume of invoices.
With CashOnTime, you will have the assurance needed to start reminders earlier for invoices that are actually unpaid because the software works day and night.
Become more efficient in handling disputes:
Inform your customers of progress on disputes, accelerate their resolution, analyse the causes, and more. These features will help boost your image as a reliable sales partner.
Boost the reputation of the collections department:
Businesses often find that when they implement the CashOnTime collections software, they increase the visibility of their collections departments. CashOnTime highlights the professionalism of the department, helping get everyone on board with the company’s cash culture.
Make life easier for your customers
Send your customer a reminder in their own language:
You can increase the conversion rate of your reminders by more than 50% if you send reminders to customers in their own languages. Why wouldn’t you? CashOnTime allows you to create email templates or reminder messages in any language you want.
Provide your customer with a command centre for their invoices:
Imagine what you and your customer would gain if you made available to them a self-service portal where they could directly download copies of their invoices, check their status, find communications with your collections department, report a dispute, make a payment promise, and more.
Increase your revenues in a secure fashion:
What happens if your customer has reached their credit limit and you have frozen their orders? Don’t panic: they can pay online directly through the portal. The CashOnTime portal allows you to implement an API with the online payment tool of the bank of your choosing.
