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The Most Flexible and Automated of Billing Management of Peakflo

The Most Flexible and Automated of Billing Management of Peakflo

Do not settle for a one-size-fits-all billing solution

Businesses that rely on inefficient, rigid, or manual billing systems are not able to scale up and market innovative products and services.

No matter whether you are selling products or services, your billing solution must be flexible and adaptable to keep up with market changes. You must be able to launch and monetize new recurring revenue streams quickly so that your future billing needs can be met.

  • Subscription Billing
  • Billing based on usage
  • Invoicing
  • Taxation

Peakflo’s Flexible and Automated Billing Management

To support any pricing model or business, complete billing, invoicing, and taxation can be done with a single click. The Peakflo allows enterprises to launch and monetize any combination of subscription, usage-based, or hybrid billing models. Automated billing management will increase recurring revenue and enhance the customer experience.

Automated Payment Follow-Up Automation

To automatically track down payments for jobs that have been completed, use the Payment Follow-Up Automation. If you’ve done the work, it is time to get paid.

Peakflo will propose actions based upon the follow-up plan, invoices to be paid, and payment received. This menu can be used daily, weekly, or monthly. It is not risky to send the same reminder mail twice to your customer. Peakflo will only suggest the actions you need to take. You will only have a few calls per day if you do it daily. It will be much easier if you do it once a month.

You can organize your work however you like. It’s a good idea to reconcile all bank statements before you start to send payment follow up mail. This will ensure that all invoices are reconciled, and you won’t send payment follow up mail to customers who have already paid their invoices.

You can follow up with customers by

  • Contact the customer by obtaining his contact information.
  • Click on the name to drill down to the customer information page.
  • Modify the text, email, or letter and adapt it to the customer.
  • To mark the customer as a good, normal, or bad debtor, change the color dot.
  • If you call the customer, log a note.
  • Some invoices should be removed from the statement table (litigation).
  • Send an email with your statement.
  • If you have the Docs away integration, print a letter or send regular mail.
  • Get an invoice.
  • You can change the payment date on an invoice. Peakflo will remind you.

Preventing Late Payments in the First Place 

Even though you have these payment follow up mail reminders, it is still possible to feel uncomfortable following up with customers for their money. The best way to avoid this discomfort is to not allow late payments to occur in the first instance.

These invoicing tips can help you avoid paying late fees.

  • If you are concerned about overdue payments, make sure to inform your client of your repayment terms before or after they sign on for a job. This will ensure that you don’t leave it to chance that your customer will (carefully) read your repayment terms before they get their first invoice.

  • Make sure you are clear about your time frame. Many business owners use “due upon receipt” as their repayment terms on invoices. This is too vague and leaves customers open to interpretation. Instead, indicate the repayment period in days. “Due 30 days after receipt.”
  • Late payments are subject to interest; just like you can be charged interest for late business credit card payments and your clients can be held financially responsible for late payments. Your invoice should indicate your interest charges. You may not know how much you should charge for late payments. First, read the best practices.