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.
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.
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.
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.
Learn more about VTiger’s Subscription Module in this article.