Acknowledging the struggle that firms have to maintain repeat business, one professional funding provider has introduced an online payment portal that allows clients to ‘opt in’ via their invoices.
'Opt-in' portal could boost accountants' repeat business
Funding provider QuickFee has introduced an Australian-first payments portal, giving accountants the opportunity to offer clients the choice to ‘opt in’ directly from their invoices.
The 'QuickFee Secure Online Payments Portal' lets clients pay their bill in monthly instalments rather than in lump sum payments which, according to QuickFee managing director Bruce Coombes, alleviates the need for “damaging conversations” around payment.
“Offering this extra choice could mean the difference between creating a loyal customer, or just a one-time transaction, while outsourcing the solution also ensures the added feature doesn’t interrupt cash flow,” Mr Coombes said.
“Service industries such as the accounting industry are heavily reliant on a superior customer experience to generate repeat business,” he added.
Noting that innovation can give accounting firms a competitive advantage, Mr Coombes referred to a recent Deloitte report, titled B2B Payments 2015 ANZ Research, and stressed that outsourcing payment options could “enhance core payment and financial capabilities” while improving efficiency and decision-making.
The greatest strength of outsourced payment options lies in their ability to drastically reduce the time spent chasing payment, he said.
“Not only is this a waste of time, but it is very damaging to client relations – a disaster for firms competing on customer service,” he said.