5 TECHNOLOGICAL SOLUTIONS FOR MORE EFFICIENT MONEY COLLECTION
Somewhere heard idea that nice bills are paid faster stuck for a long time! The ability to raise funds more quickly is an integral part of good capital management. With RoboLabs, you have at least five technological solutions to help you raise working capital much faster. If you haven't used them yet, it's time to get started.
1. "PAY NOW" BUTTON
For outgoing invoices (both PDF and email), activate the Pay now, button, which will allow your customers to pay the invoice they receive quickly, conveniently, and securely. Pressing the button will take the customer to the payment initiation page, where, after selecting their bank, they will make the payment with the click of a few buttons. We run this payment initiation service together with Neopay. Depending on the business area, approximately 20-30% of customers choose to pay the bill in this way. We have also installed the Pay now button in the reminder to pay the bill e-mail.
2. RECURRING INVOICES
If you frequently issue recurring invoices (such as for rent or a monthly subscription), make them recurring in Robo and automatically send them to your customer at the interval of your choice - weekly, monthly, or quarterly. If the amount is the same and exact, you can immediately approve and send the invoice to the customer. If the amount varies from period to period, create a draft that only needs to be adjusted and sent to the client after approval. The functionality of recurring invoices ensures that you do not forget to issue invoices on time and they are sent to the customer as soon as possible. The earlier you send out an invoice, the more likely you are to get paid faster!
Probably the best way to collect payments quickly is to create an e-invoice directly to your client's bank. Most major Lithuanian banks offer this service, and thanks to the direct integration with Swedbank Gateway, RoboLabs customers have this opportunity. After uploading the invoice to the bank, the customer will be able to pay it directly at the bank without forming a separate payment. In addition, with the consent of the client, you will be able to debit funds directly from the client's bank account immediately! This functionality is especially suitable and useful for B2C businesses that bill their customers periodically (e.g., various educational or sports facilities, utility providers).
4. AUTOMATIC PAYMENT REMINDER
Do you notice that some customers particularly often are late with payments? "The accountant was on vacation", "I didn't receive the invoice, send it again", "I believe we have paid, let me check with my accountant" - just a few popular excuses. With RoboLabs you have the ability to create automatic payment reminders. Automatic reminders discipline insolvent or often overdue customers, eliminate unpleasant personalities, and ensure there are fewer forgotten to pay bills. In your account settings, specify the invoice amount from which to send reminders, and choose when and how often to send them. For user convenience, activate the payment initiation integration so that the customer only has to click Pay now.
5. ROBOT-FRIENDLY INVOICE
Not everyone knows that every PDF account generated by RoboLabs has an integrated e.invoice XML file with all the invoice data. Owners of smarter accounting software may now automatically upload the invoice they receive from RoboLabs system. Why bother compiling invoices with the help of human or artificial intelligence, if all the information can be retrieved with 100% accuracy from the XML plugin? Well, the sooner the invoice gets into the accounting system, the sooner it can be transferred for payment! The XML plugin is installed on all invoices issued in RoboLabs system.