Top 10 Reasons to Use PAC
10. Increase Customer Retention!
Industry statistics support the claim that clients on an auto-pay type system remain faithful customers in excess of 90% of the time.
9. In-house Collection
Pre-Authorized Checking (PAC) can be the perfect answer to the "age-old" excuse -"The check's in the mail." All you need to process a pre-authorized check is written consent and their checking account information. Now consumers can afford a service by dividing the total amount over a payment term, allowing them to purchase products or services they otherwise could not afford.
8. Reduce Billing and Invoicing Costs
Each and every draft produced by PAC will save your company money. Studies show that the average business spends $10 per account, per month to bill their customers. With PAC there are no-ongoing fees to the business owner. By reducing invoicing, mailing, bookkeeping and all other associated billing expenses PAC can directly add to a business' bottom line.
7. Convert NSF Checks into New Payments
If a business receives any NSF checks, they can contact the customer and with their consent reissue the payment. The business can even obtain customer consent to include the bad check fee in the new draft.
6. Mail Order, COD and Telephone Sales
With our system businesses can close those telephone sales immediately by drafting their customer's checking account. Much like a credit card order, they get the sale now, but without the payment delays, rejects and merchant card fees associated with taking credit card payments.
5. Installment Plans and Recurring Billings
Our "silent payment" concept helps prevent account delinquency. Customers will appreciate the convenience of automatic payments and business owners love getting their money on time, every time. Now there is no more forgetting, ignoring, or worrying about past due accounts or service interruptions.
4. The Ultimate Fund-Raising Tool
Members and donors can simply draft their checking accounts instead of having to remember to mail a promised donation. This helps organizations get all the fund-raising dollars they have been promised, and because it costs less than taking a credit card, more money makes it to the cause it was intended to help. PAC is great for non-profit partner donors, building programs and telethons of all types.
3. Improve Customer Service
Many customers will appreciate the convenience of PAC account payments because they can easily have a payment put on hold and reissued the next month. This allows business owners to continue collecting their funds without angering a long time client who may be having a tough financial month.
2. It Is a Win-Win Situation
The PAC solution benefits both business owners and their customers. Businesses cannot afford the opportunity cost of forgone business growth, or the possibility that their clients who desire the convenience of auto-pay would find another provider who offers this service.
1. Get Your Money Faster
The PAC solution puts the business owner in control of their payments. They decide when they get paid. PAC checks can be produced for immediate sales and implemented effortlessly on all recurring invoicing services, products, or payment plans.
The Bottom line: Now Business Solutions can dramatically improve the cash flow operations of your business!
Contact us today for a no-obligation review of your receivables situation.