The
High Cost of Manual Invoicing
Businesses know that issuing invoices is very expensive and
time-consuming. Independent studies have found the cost to issue an
invoice can average $5 to $10 each (taking into account everything
associated with invoicing: printing costs, postage, accounting
personnel, follow-up labor, equipment costs and the cost of outstanding
money). The bottom line is simple: it costs businesses significant
dollars to collect the money that their customers owe.
With Impact's Automated Payments, you can collect the money customers
owe you on a recurring basis without the cost and hassle of invoicing.
Automated Recurring Payments
Automated Payments allows you to enter a transaction one time to
debit a customer's account multiple times. The payment amounts can be
the same or vary each month and can occur at intervals that you specify.
The Federal Reserve banking system, through our processor, handles the
transaction and ensures the money is deducted from your customer's bank
account and deposited directly into your bank account -- all
automatically, without you having to do anything.
You're Already Familiar With This Process
Many health clubs and insurance companies have been using automated
payments for some time. Assume a small health club has 1,000 members
that pay monthly membership dues of $25. If they had to send out
invoices to those 1,000 members at just $5 per invoice, it would cost
the club $5,000 to invoice and track payments as they came in. That's
one-fifth of all the money the club would earn for the month! And that's
assuming all their members paid in a timely fashion.
Impact's Automated Recurring Payment system will help you to reduce your
invoicing costs by as much as 75%. This, while collecting your money
significantly faster and dramatically reducing your workload. This
solution works for organizations of all types, including: property
management, associations, medical & dental, public utilities, storage
facilities, insurance, legal, financial services, even retail.
.gif){kind=small}
Recurring Payments
