18 Mar COVID-19 Impacting Your B2B Operations? Here’s How to Move Your Receivables Online
The Coronavirus (COVID-19) has created a lot of concerns and uncertainties for B2B organizations. From office cleanliness, to supply chain disruption, to business continuity, business leaders are scrambling to keep their organizations operational and profitable while protecting themselves, their employees, and their customers.
Compared to B2C payments, B2B payments are very much still in the “dark ages”—64% of B2B organizations continue to use paper checks and invoices. But, in the age of COVID-19, many businesses are beginning to see the benefits of going digital. Here are 3 steps to quickly move your B2B receivables online.
1. Unleash the virtual terminal
Your organization accepts credit cards, but it’s not your preferred form of payment. It’s time to change that. COVID-19 likely has your employees working from home, and your clients are probably experiencing the same. If you’re still relying on paper checks and invoices, cash flow will suffer. So, it’s time to unleash the virtual terminal. Here are some of the great features our proprietary virtual terminal and payment gateway offers to help you digitize your receivables process.
1. Simultaneous logins. Your users aren’t operating out of the same office anymore, so what happens when multiple employees need to accept payments at the same time? Simultaneous login capabilities mean your users can handle their job functions independently, from any device with an internet connection.
2. Tiered access. With your employees off-site, making sure they have access to the information they need, and NOT the information they don’t need, is imperative. With our virtual terminal, access to payment processing, transaction reporting, and customer details can be restricted on a user-by-user basis.
3. Click-to-pay invoicing. If your employees aren’t in your office, and your clients’ employees aren’t in their offices, it’s just not practical to send paper invoices, cut checks, get signatures, etc. And that’s not even taking into consideration the potential security problems raised by having such sensitive information available in employees’ homes. Click-to-pay invoicing allows specified users to generate and send digital invoices that reduce paperwork and allow clients to make payments effortlessly and securely.
4. Text to pay functionality. This feature offers ultimate flexibility and convenience to your clients. You create an invoice within your virtual terminal and send it directly to your client’s mobile device. Then, all they have to do is click a link and enter their payment details to complete the transaction. This makes for a truly seamless payment experience, even if a customer is stuck at home without access to their work computer or email.
If you’re a BASYS customer that doesn’t currently use our virtual terminal or payment gateway, please reach out to us. No additional devices are required, and our remote team can have your account ready to use within 1 business day.
2. Educate your employees
Now that you know what our virtual terminal is truly capable of, it’s time to make sure your employees know how to use it. To encourage employee buy-in, explain how this tool can help them with their day-to-day responsibilities (reducing paperwork, improving ease-of-use, etc.) and how it will allow your business to remain operational during the COVID-19 pandemic.
If any of your employees need access to your virtual terminal, or if existing users need additional training, please reach out to us.
3. Communicate with your customers
Once you and your employees are comfortable with your virtual terminal, it’s time to share the good news with your customers.
Make sure they know that you’re still available to support them and that you’re offering new and improved online invoicing and payment options to streamline their experience and ease their own accounts payable processes. This lets them know you’re committed to getting through this difficult time, together.
Paper checks and invoices just don’t offer the flexibility businesses need to withstand COVID-19. B2B payment innovation is necessary to continue your operations right now, but also to future-proof them. Change can be tough, but we’re here to be a resource for your business. If you need to transition your receivables online due to COVID-19, please reach out to us.
BASYS Processing as a business partner
Does your current processor understand the unique struggles of your industry? Do they provide great rates and excellent customer service? Are they offering solutions to grow your business and being pro-active about helping you reduce risk and increase your savings? Contact BASYS today to learn more about innovative payment solutions that will save you time and money. We make accepting debit cards and credit cards convenient, safe & affordable.
BASYS Processing features:
– Live operator when you call support – no automated voice systems
– Dedicated Relationship Manager for questions and concerns
– Quick response time for your questions and concerns; you are a priority
– Family owned since our founding in 2002
– A+ BBB rating
– 90% + Customer Retention Rate
– Proactive contact with every merchant to walk through the annual PCI process
– In-house PCI Team to assist with questions and concerns
– Solutions including terminals, virtual terminals, e-commerce, mobile, and point of sale
– EMV compliant products
– Reporting for customer, sales, and inventory management
– Gift and loyalty card programs
– Easy-to-read statements
– Transparent pricing
– Tremendous savings
About BASYS Processing
BASYS Processing provides credit card and debit card processing services, and solutions that include terminals, virtual terminals, e-commerce, mobile, and point-of-sale, customized to fit any need. Banks, associations, and software partners depend on us to strengthen their reputations and relationships with their customers by providing remarkable service paired with ultimate flexibility and pricing. Merchants depend on us to make accepting credit cards and debit cards convenient, safe & affordable. BASYS was founded in 2002 on one philosophy: to take care of our merchants, partners, and employees so they never want to leave. We are dedicated to working one-on-one with our customers to design the perfect solution. BASYS is Personalized Payment Processing.
Learn more at basyspro.com, and connect with us online at: