It is important to setup a quick and efficient payment process between you and your clients. When the payment collection process is fast and seamless, this not only guarantees that you receive your payments on time, but it also makes it easy for your clients to pay without any added burden or concern.

With Releventful, you are able to request credit card and ACH/bank draft payments online while also being able to manually record cash or check payments. There are many ways to capture and record payments for your records, but what is the industry standard for the payment collection process? By adopting modern payment method workflows, you can improve efficiency and overall satisfaction for both your clients and your business.

Online payments are the new industry standard for payment collection, as the online process offers a significant convenience for both you and your clients. We understand that time is money when it comes to your business! Reduce the delays in receiving payment from your clients by offering fast and easy online payment options.

Handling physical checks and cash can lead to delays and increase the likelihood of errors. Processing a check can take upwards of two weeks or more if considering the time it takes to bring the physical check to the bank and wait for processing and validation to take place. Online credit card payments are instant and ensure that you are paid right away with little to no delays.

As online payments have become the industry standard, transitioning away from manual check handling is essential for staying competitive and ensuring that your business model is efficient.

To ease the payment burden for your client, break your payment schedule up into smaller monthly payment installments. Instead of offering a small list of larger payment amounts, providing monthly payment requests to your client will help the overall payment amount feel less daunting.

Monthly payments provide your client with consistency, as they fall into a rhythm of paying the same set amount on the same set due date each month. Smaller payment amounts are more manageable for clients and set them up for success to pay these scheduled requests each month.

Monthly payments also take the burden of high convenience fees away. Convenience fees will feel like less of an impact, as the fee percentage will be smaller with the smaller amount due.

Credit card payment options are highly beneficial for your clients, allowing them to take advantage of rewards programs that cash or check payments do not offer.

Your client can choose to opt into automatic monthly payments to have their card on file charged automatically without needing to take any action within the system. To learn more about automatic payments, access our article on automatic payments below:

A monthly credit card payment structure not only eases the payment burden for your clients, but also provides significant benefits for your business.

By implementing monthly credit card payments, you can improve your overall cash flow management, as monthly payments provide greater predictability for your forecasting efforts. Additionally, credit card payments ensure that you receive funds instantly, where with checks and ACH/bank draft transactions, significant delays occur for processing and validation.

For guidance on creating custom monthly payment schedules, access our help article below:

With Releventful Pay, you can provide your clients with the flexibility of choosing between credit card or ACH/bank draft payment methods. Offering both options ensures that clients can select their preferred method of payment.

These two online payment options are significantly more efficient than traditional cash or check payments. Clients can conveniently process their payments digitally at any time of day. The ease of online payments facilitate a faster transition for the lead to booking process compared to other methods like physical cash or check.

While both credit card and ACH/bank draft payments are great online payment options, credit card transactions are recommended as the preferred method due to their instant processing time. However, digital ACH/bank draft is still an excellent alternative for clients who prefer to have funds withdrawn directly from their bank accounts.

For additional information and guidance around creating credit card and ACH/bank draft payment requests, please refer to the help article below:

With Releventful, you can easily enable online payments through credit card and ACH/bank draft methods. Let us show you our payment processing in action!