[ad_1]
In the beginning of the pandemic, WS Audiology confronted various accounts receivable challenges.They wanted an AR answer that will assist them handle buyer relationships nearly. Their present automation software program didn’t permit them to offer clients with an optimized cost expertise. As well as, information silos and a scarcity of inside transparency created points like orders continuously being positioned on maintain, irritating each her gross sales workforce and their shoppers.
That’s why Susan LaRosa, Director of Credit score at WS Audiology, determined to make a change, shifting her workforce’s accounts receivable operations to YayPay.
“We needed to make it simpler for patrons to pay on-line and enhance their total expertise,” LaRosa stated. “And we additionally needed to develop our buyer base.”
YayPay’s built-in self-service cost portal allowed WS Audiology clients to view the open invoices on their accounts, ask questions, and make funds utilizing their most popular methodology with simply the contact of a button.
“The software program is so easy and straightforward to make use of,” LaRosa stated. “Clients love the power to pay on-line. They’re performed in seconds!”
As well as, Susan’s workforce discovered that they had been in a position to enhance buyer communications. The software program allowed her to make use of a wide range of templates and customized messages to make sure that WS Audiology’s AR course of by no means misplaced the human contact whereas conserving essential data and due dates prime of thoughts.
“We use round 80 templates,” LaRosa stated. “We’ve received one for each contact level within the collections course of and they are often seamlessly distributed through the automated workflows. We had been even in a position to create particular templates for events like Valentine’s Day or Thanksgiving, letting them know the way grateful we’re for our clients. Our clients’ finance groups by no means get thanked. They love receiving these emails.”
One other important a part of the choice to undertake YayPay got here from the safety offered by the answer’s PCI-DSS compliance. As a corporation that works in healthcare, they wanted to make sure HIPAA compliance for his or her clients.
“How we defend buyer data is important to us as a healthcare firm,” LaRosa stated. “YayPay had the perfect safety round it.”
Through the use of YayPay’s detailed getting old experiences, reviewing credit score limits and balances, and monitoring the newest touchpoints with the client, they can take proactive steps to make sure that the account pays on time. Not solely does this hold their DSO low, however will increase buyer satisfaction by eliminating issues like holds or suspended accounts. The reporting and skill to see issues like excellent balances, cost historical past, and different account exercise additionally allowed her to speak shortly with the gross sales workforce when points come up, in order that each groups have the data wanted when interacting with clients.
The outcomes had been rapid and substantial. Adopting this customer-centric strategy to accounts receivable allowed them to cut back their DSO from 65 to 47 days, a distinction of 27%. In response to DeRosa, additionally they now not depend on an outdoor assortment company to run down late funds, a indisputable fact that has helped them scale back prices and save clients the aggravation of coping with a 3rd celebration.
Not solely did YayPay permit WS Audiology to lower DSO by 27%, but it surely allowed them to help gross sales development and streamline operations, serving to the group’s income.
“Our portfolio has improved dramatically. We’re controlling money a lot better and we’ve the foresight to handle challenges,” LaRosa stated. “Despite the fact that income was down in the course of the pandemic, we managed to gather as a lot as if we didn’t have the pandemic. Better of all, this can be a extra fulfilling expertise for the client. It doesn’t really feel punitive; it feels collaborative.”
To be taught extra about how YayPay helps optimize your accounts receivable, hear from Susan DeRosa of WS Audiology in our upcoming webinar!
[ad_2]
Source link
