The order-to-cash cycle seems straightforward. Create an invoice, send to customer, get paid…right?
Not so fast.
According to one recent study, nearly half of the 400 billion invoices that US-based merchants create each year go on to become overdue. That’s a massive amount of outstanding Accounts Receivable – and a major headache for those merchants.
There’s no single factor that’s responsible for these unpaid invoices, but one thing is for sure: the harder it is for a customer to pay their vendor, the less likely they are to make the payment on time. That’s why so many merchants are increasing the number of payment methods they accept. Small and medium-sized business are adopting new methods at a slightly slower pace than large enterprises – likely due to resource constraints – but there are still ways to add new payment channels without extensive effort.
Email payments are one such option. Create an online invoice, then send a link directly to the customer, who can use their credit card to check out on their own time – on any device. They don’t have to call your customer service team or have Accounts Payable cut a check; it’s a much more convenient process.
At Curbstone, customers who use our Payment Landing Pages can easily email their customers a corresponding payment link. They don’t have to have an e-commerce store set up, and when the customer submits their information, the transaction details are tied back to their order entry system or ERP. It’s fully integrated, which means less manual data entry for your accounting team – which in turn means a faster, more accurate order to cash cycle. It’s not just a more seamless experience for your customers; it’s a more seamless experience for you.
Get Started with Email Payments
Ready to reduce unpaid invoices and speed up your order-to-cash process? Contact Curbstone to learn more about getting started with email payments.
