Consumer preferences clearly point to online payments, but not all payment processors are created equal. As a security-conscious business that accepts online payments, are your transactions as secure as they should be?
Cash Flow is the life-blood of a business, and when it comes to getting paid on time and profitability, 70% of MSP owners still lose sleep worrying about cash flow issues. So, how can you safeguard your business and ensure predictable cash flow?
Effective billing and collections processes are key to financial stability. From the first contact with a prospective client to their payment hitting the company’s bank account, efficiency ensures success.
MSPs can achieve predictable on-time payments from customers. The timing and workflows are critical, as are steps for validating and tracking all the various payments to ensure nothing gets lost amidst the chaos of running an MSP.
Automated recurring billing systems take on some of the least popular manual tasks in managed services. These tools can also boost morale and eliminate headaches for clients’ accounting teams. Everyone will appreciate being involved in fewer emotionally draining collections calls.
Addressing the hidden costs of payment collection is critical for any forward-focused MSP. To accomplish that goal, providers must assess and then eliminate or optimize various procedures and implement payment solutions their clients will appreciate and actually use.