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Top three questions that business owners ask about implementing automated payments software
You already know that automated payments are a strategic advantage that can drive your business to improved internal efficiencies, reduced operating costs, increased positive cash flow and ultimately increased profits. But, your time is precious so you’re probably starting to wonder, ‘how hard will the transition to automated payments be?
Top three questions that business owners ask about implementing automated payments software: Ezidebit.
We know that busy business owners like you need to be assured of fast, easy set up and implementation so you can get back to business-as-usual and start earning a return on investment immediately. If you’re wondering what you can expect ahead of implementation day, these top three questions that small business owners ask our expert payments consultants about implementing automated payments software will give you the answers you need.
Our manual payments process has been in place for years without any complaints from customers. Will implementing automated payments confuse our customers and make them leave?
In our article ‘how automated payments can improve your competitive advantage’ we talked about how mobile technology is changing the way people buy from businesses like yours. Offering a range of modern and convenient payment options (such as direct debit and BPAY) gives your customers the mobility and flexibility they need to be able do business with you on the run – or even better, do business with you automatically without lifting a finger! For your busy customer, what’s not to love about that?
When it comes to responding to your customers’ evolving needs, change is a good thing. The fact is, if you can’t offer the convenient payment options that today’s customers want (such as direct debit or BPAY), it’s you who will ultimately pay the price of lost customers.
My time is precious. How much work is involved in implementing automated payments into my business?
You personally should not need to do the technical side of implementing your automated payments solution. Your payment provider should handle all of that for you behind the scenes. As the owner of your business, your efforts are best focused on looking after the people who will be impacted the most: your staff and your customers.
Keep your staff and customers abreast of your upcoming changes to your payments processes by engaging in regular and open communication that highlights the benefits of the change (such cutting down on your staff’s administration workload and offering more flexible payment options for your customers), points out any key changes they will need to be aware of and tells them where to direct their questions.
We really want to maximise our return on investment. Should we make paying by direct debit mandatory for all customers?
Before you implement your new automated payments solution you need to decide whether you want to make it a mandatory requirement that all existing customers immediately shift to direct debit – or, will you simply offer them direct debit as an optional payment method from now on?
In our 17 years of experience, we’ve found that business owners who immediately shift as many customers as possible to automated payments can realise their return on investment in the first month after implementation. However, we also know that every business is different. Customers in some industries may be more resistant to paying by direct debit than customers in other industries – in these instances, we usually recommend that you mandate new customers and allow existing customers to transition in their own time.
A quick implementation is a successful implementation
When it comes to getting up and running with automated payments, a quick implementation is a successful implementation! That way, you can start earning a return on investment straight away by immediately reducing payments-related administrative costs, speeding up your inbound cash flow and ultimately increasing your profits.
Find out exactly what’s involved in getting automated payments implemented into your business. Speak to one of our expert payments consultants today.