For an organization to meet its cash flow goals, it needs to have an effective account receivables process. This ideal process is which ensures that companies get their payments quickly, process invoices faster, and improve their collection timelines, which in turn will contribute to increased cash flow.
Receiving on-time payments from customers is fundamental to the success of any business. With InstantPay, you can develop an efficient and seamless accounts receivables process to help reduce collection costs, save time, and maximize resources. Here in this blog, we discuss some of the key collection strategies and best practices that will help you in accepting and receiving customer payments quickly and effortlessly.
Accept payments seamlessly from your customers 24×7
With an InstantPay business account, you can quickly collect payments from your customers anytime, anywhere. Here you get instantly paid via UPI, net banking, cards, and other options. Whether you run a small business, retail shop, or e-commerce website, we have integrated payment collection solutions to your unique needs.
Now you can accept all your payments 24×7 using our neo banking services crafted for businesses, small or large. Also, you can easily integrate our APIs to meet your specific business banking needs. Today, our smart, flexible, and secure digital payment solutions are used by thousands of businesses including retail, corporate, education, logistics, e-commerce, and so on.
Collect payments hassle-free via Email, WhatsApp, and SMS links
Payment links are an easy and secure way to receive payments for goods and services. Using InstantPay’s payment collection solution, you can share payment links with your customers via Email, WhatsApp, or SMS to collect money swiftly via cards, UPI, net banking, and other options. Also, you can attach invoices and automate your payment collection with ease. Giving a better experience to your customers, these links are ideal for most businesses and are a perfect way to replace cash on delivery.
Get paid on time by sending payment reminders
Following outstanding payments and chasing late invoices are among the most daunting tasks that business owners have to face. With InstantPay’s automatic payment reminder, you can send friendly invoice reminders to your clients instead of calling or texting them incessantly. Here automated reporting also reminds your clients about their overdue payments so that you can get paid timely.
Automated collections via real-time notifications and MIS
The best way to get paid is through automated collections. We have put an end to confrontational and ineffective collections by putting your customers first and letting your DSO and effectiveness metrics do the talking. With real-time notifications and MIS, you can save both time and cost on repetitive tasks. Also, it is helpful to stay productive and profitable with automated payment reminders and collections.
A single platform to track and manage your customer payments
Save your time and money by tracking and managing all your account receivables in one place. With InstantPay, businesses can do more than just receiving payments such as tracking customer payments, detailed reporting for better business insights, and other important tasks. We offer a comprehensive banking platform for small to large businesses where they can collect, track and manage payments easily and efficiently. InstantPay bank account has intelligent tools that make banking and accounting smart. Our banking platform not only helps you in improved sales but enables you to focus more on your business with its powerful dashboard.
In Conclusion
With a smart and efficient payment collection process, businesses can not only streamline their cash flow but can focus more on their core business process. At InstantPay, we offer custom and reliable digital payment collection solutions that optimize your accounts receivable process as well as keep your costs low. With around 1M daily transactions and 10M active customers monthly, we are a trusted partner for many small and large businesses today.
