Businesses are looking towards a new way to get paid, we have proof of this!
In the last few weeks there has been a dramatic increase in our users creating weekly or monthly payment plans. Many of these businesses where either charging one-off payments or businesses charging monthly are now offering weekly plans!
When we talked to several of our users the same themes kept coming up. It wasn't that their customer couldnt pay but would feel more comfortable paying in smaller chunks. There is actually a benefit to all parties in this, both businesses will have better cashflow.
When we ran a software agancy we billed in chunks and then had to sometimes chase payment. If we were doing the same again we would use payhere to split the work up into weekly automatic payments. If the work is being carried out well and the client is happy, everyone wins in this situation. Also the big takeaway that we have learnt over the years is that once you take the payments out of the conversation, by automating it, both you and the client can focus on the work at hand and getting a great outcome. It is also unbelievable the amount of our users who have also said that they hate having conversations about payments as it can be awkward and put a strain on the relationship.
Below is an example of the changes that we are seeing from larger payments to weekly (or monthly) recurring ones.
Outcomes for the business
- Getting paid as the project/work progresses.
- Better cashflow.
- No awkward conversations about payments as everything is automated.
- Focus on delivering the project/ piece of work.
Outcomes for the client
- Better cashflow as the payments are spread out.
- Payments are automated so no time wasted processing them manually each time.
- Not getting chased by the business for payments.
If you would like to find out more how you could do this for your business we would love to hear from you. Just get in touch, we will be happy to help! hello@payhere.co