When we ask about what are the most important elements of a business firm from market experts, Product, promotion and marketing are the most common answers you will hear. Today I will like to highlight another very important element of a business firm which is billing. If your customers are not happy with billing facilities and terms of payment, then eventually they will switch to your competitors. Usually, criteria which customers use to evaluate the billing procedures of a company contains fairness of billing, checking the history of payments and ease of making payments. If these elements are missing from your billing methodologies then expect a poor customer response both in terms of your product usage and feedback.
We live in a digital world; business firms are customizing their operations in order to cater their customers in more effective manner. Same is the case with billing plans, some customers want to pay in chunks, some want to pay unit by unit and there are clients who want to pay on monthly basis. So, companies need a diverse range of billing plans to facilitate its every customer according to their will. Manually carrying out billing operations is one of the toughest task related to business operations. The chance of the error is so high and it takes a good enough number of human resource to calculate the bills for all of your clients.
VTiger 7 Subscription Module – Payments the Solution You Need
As mentioned above, you have to introduce a diverse range of billing options if you want to assist your customers in a better way and VTiger 7 CRM understands this need more than its competitors. This is the reason it introduced Subscription Module and one of the most useful features of this module is Payments. It helps to automate the payment procedures regardless of the fact which type of business you are carrying out. This useful tool, not only reduces your expenses related to the billing tasks, but you can channel energies of your human resource in any other important business related tasks.
How VTiger 7 Payments Improve Your Business
Introduction to this cool feature is done, now the question is that in what way it will add value to your business? Well, there is a never-ending list of reasons which justify the use of this tool. But, here I will elaborate some of the most important benefits of using VTiger 7 Subscription Module – Payments.
Transparency: First and foremost important benefit that this feature brings to your business is transparency in billing procedures and methodologies. Customer value transparency very highly when it comes to payments and VTiger 7 Payments offer it in a better manner than any other CRM.
Error free: Generating bills for a huge amount of customers manually brings a lot of problems and one of them is errors. Billing is a task which involves financials and this aspect makes it a nerve wrecking activity and even some of the best minds fail to withstand the pressure of generating bills manually, thus make mistakes. So, VTiger 7 Payments make your bills error free, which helps in creating a positive image of your firm not only to customers but to the overall market.
Less Administration: Once you automate your billing procedures using VTiger 7 Payments, it will carry out most of the tasks automatically. Thus, the need of administration will be reduced.
System Integration: Furthermore, VTiger 7 allows collaboration with a number of different software systems. You do not have to fetch data from one system and then put it to another to generate bills. Complex systems can be combined using VTiger 7 and then its subscription module uses that data to generate bills.
Ease of Reporting: This feature also helps in making your reporting procedures simple and easy. For example, COO wants to check the total bills that were charged to the clients in the past three months. All he has to do is use VTiger 7 Subscription module – Payments and he can view the history of past bills.
The benefits this tool brought to your firm, especially in terms of billing are exceptional. Payments feature help to boost overall value of the firm and provide a better understanding to the customers about on what basis they are charged bills.
Although it is a very simple tool, but there are some areas which you should configure with great care in order to take maximum benefit out of this feature. One of such configuration relates to its Autopay options. The purpose of this option is to make your customer aware whether he or she has paid the bills or not and if they failed to make payment then remind them periodically.
If the customer has paid the bills, then you can send him or her an automatically generated email informing them about successful payment of the bill. If the client failed to submit their bills, then you can send them an automated email informing them about their payment failure. The story does not end here; you can automate the process of sending them automated emails after a certain period of time. The number, title, template can be configured, in addition to that time, you can also set the numbers of days after which first, second and third reminder email.
It is a must have feature to smooth line your firm’s billing related activities. Do not hesitate and incorporate this tool in your business without any delay.