When you’re running a business, having sufficient cash flow is the key to success. One way to boost your flow and reduce the need for debt collection activity is by offering online bill pay to your customers or clients. If you’re not using this option in your accounts receivable management, here are a few reasons you might consider it.    

3 Reasons Why Online Bill Pay Reduces the Need for Debt Collection 

1. Convenience for Customers & Clients

Online bill pay gives you a convenient way to free up cash flow because it offers your customers or clients the ability to pay whenever they are connected to the internet. Payment convenience for your customers makes it more likely that they will pay on time. This will reduce the number of accounts you need to send to a debt collection agency.

2. Efficiency for Your Business

Online payments enable you to set up autopay accounts and recurring billing for customers, saving time and money on manual paper billing and mailing. Automating your billing increases your efficiency, giving you more time for business development.

3. Increases Customer Sales 

Whether they are made by credit or debit cards or electronic transfers, online payments increase customer sales. When customers can shop and pay you from their laptops or smartphones for free, they will likely purchase goods more frequently in the future.  

Offering the option of online payments to your clients and customers helps you with accounts receivable management. When you do need debt collection services, Joseph, Mann & Creed can help. Based in Twinsburg, OH, this collection agency has served businesses for almost 20 years by obtaining late payments for them. They have a proven record of respectful contact with their clients’ customers, while using successful methods to collect outstanding debts. Visit them online to learn more about how they can help you. Call (216) 831-5626 to request an estimate for service, and follow them on LinkedIn for news and information.