The online payment experience is one of the most critical interactions your organization has with its customers. Between changing customer expectations and evolving technologies, however, many organizations struggle to keep up. The key to improving your payment experience lies with your online payment platform.
The majority of organizations already have an online payment platform in place. And while these solutions might get the job done – in terms of offering your customers the opportunity to pay their bills online or through a mobile device – there are likely still many gaps in your online payment experience. The fact is, not all online payment platforms are created equal. Not all payment platforms are capable of driving real and significant results for your organization.
When we talk about driving results, we mean things like:
- Reduced customer service calls related to payment issues
- Less staff time spent printing and mailing paper bills
- Reduced costs associated with printing and mailing paper bills
- Increased collections efficiencies
- Decreased staff workloads and improved staff morale
To drive these kinds of results, an online payment platform has to be designed with the customer experience in mind. This means providing a simple, efficient online payment experience that will make your customers want to pay online. A recent Invoice Cloud research survey showed that convenience and flexibility were the top two reasons why consumers choose to pay bills online. Meaning that, if your payment platform is too clunky or difficult to use, your customers won’t use it. Instead, they will mail in a check, make an in-person payment, or call your customer service team – all of which use up valuable staff time that could be spent on other, high priority projects.
For many organizations, a clunky online payment platform can be the difference between retaining and losing a customer. Payments are one of the most frequent customer touchpoints, and a difficult payment experience – particularly within competitive industries – could be the last straw that causes your customers to switch providers. With customer expectations constantly evolving, your organization needs a payment solution that can provide a positive user experience to help your organization meet its goals and keep you one step ahead of the competition.
How to evaluate your online payment experience
So how can you tell if your online payment platform is driving the best possible results for your organization? Start by assessing your current online payment experience.
Take our new ‘Online Payment Experience Assessment' to get started. You’ll answer a few simple questions about your biggest priorities and current payment challenges, and we’ll help you identify your biggest pain point. Better yet, we'll help you figure out how to address it.