Using CRM for Receivables Management
CRM technology can provide valuable insights for your business at every stage of the customer experience from lead generation all the way through e-invoicing and payments.
Customer relationship management (CRM) is a powerful tool for sales and marketing, but that’s not all. CRM technology has the potential to improve the day-to-day customer experience and streamline accounts receivable (AR). CRM can provide valuable insights for your business at every stage of the customer experience from lead generation all the way through invoicing and payments. That’s why it pays to have a receivables solution for your business that’s responsive and incorporates elements of CRM.
Integrating Customer and Financial Data
It’s natural to focus your efforts on winning a sale, delivering on schedule and meeting customer expectations. CRM is designed to help your business communicate effectively through those key stages, plus it can help you manage relationships all the way through billing and payment. An accounts receivables solution with built-in CRM can benefit your business in a number of ways:
- Generate invoices efficiently. Save time by creating invoices from custom templates that automatically pull in customer data — no need to manually generate invoices or track outstanding receivables. With e-invoicing, customers receive invoices faster with links for click-to-pay options included.
- Offer more ways to pay. The convenience of choosing their preferred payment method benefits your customers and may help you get paid faster. With CRM technology, it’s easy to track payments via credit card, gift card, ACH, as well as e-check payments online, by phone and through mobile card readers.
- Improve communication about invoicing. A receivables solution with CRM reinforces online payments and provides a clear pathway for customers to quickly and easily make payments. This can help you stay in touch with clients to avoid collection delays and missed opportunities.
- Accelerate and automate payments. Decrease days’ sales outstanding (DSO) with a smooth and well-timed system for e-invoicing and payments. Improve predictability of cash flow and increase efficiency with business automation by enabling recurring customer payments to improve predictability of cash flow.
- Complete AR tasks easily. Create, manage and report transactions using an intuitive user interface. Assign tasks to team members to streamline steps and avoid duplication of efforts. Reduce manual tasks and the need for paper, envelopes and stamps.
- Customize the customer experience. You can create a self-service portal for customers using digital templates and customized payment pages.
- Access data and reports. View reports online and export files that provide a snapshot of key customer and financial data points. You can gain valuable insights that lead to better business through financial analysis.
Amegy Bank can help streamline the billing and collections process with an e-Invoicing solution that integrates CRM.1 Connect with your business banker to learn more about receivables management.
1 Terms, conditions, and fees apply. See a financial representative for details. This service is powered by PaySimple®.