Electronic Payment and Credit Card Processing
The OfficeTorque FRM system includes a variety of ePayment options that can be launched directly from the iBill or from the Client Portal.
Unlike a traditional static PDF electronic bill, the OfficeTorque iBill is interactive and carries all the data associated with the transaction as well as the image. This means that your clients can quickly and easily select to make an ePayment directly from the bill. They no longer have to print out their invoice for processing later on, or go off to their banking site to arrange a payment. They can manage it all directly from their iBill by whatever options you wish to make available including Credit Card, EFT (Internet Banking), PayPal, BPay, or any other ePayment service you wish to use.
Clients that have a number of invoices from you, can choose to go to the Client Portal where they can select any or all of the open invoices for ePayment.
The majority of on-line ePayment systems are designed for web-based eCommerce transactions. They typically only offer “Pay Now” options, and do not cater for bill payment, where most customers prefer to pay on or around the due date. So in addition to “Pay Now”, OfficeTorque can also offer “Plan Payment” which allows your customers to quickly and easily schedule a future dated payment at the time they receive their iBill or view their accounts on the Client Portal.
For all ePayment options, the transactional and reference information is automatically preloaded by OfficeTorque FRM into the correct fields in the payment gateway making it quick and easy for your customers to pay you, and at the same time ensuring you receive all the correct information for simple and accurate reconciliation of payments.
OfficeTorque can also provide you with a “Payment Plan” module that allows you to quickly create a schedule of repayments including your fees, communicate this with your client and then provide on-going monitoring for correct repayments.
Reduced cost to service, better cash flow forecasting, reduced DSO, and greater customer satisfaction are just some of the many benefits resulting from these fully integrated payment options.