Are your service technicians collecting payments in the field? Do they carry card swipers? If your answer to either question is no, your service business is losing revenue and spending too much on back-office services. You will find the advantages far outweigh any problems you may encounter.
Benefits of Field Collections
- On-site collections optimize cash flow.
- Payment, while the job is fresh, reduces later invoicing disputes.
- Questions can be resolved while your tech is on the job.
- Back-office bookkeeping is minimized.
- Accounts receivables are reduced.
- Late pays are reduced.
- Electronic payment options – credit cards, debit cards, and PayPal – have never been more secure.
Let’s consider possible objections to field payments
- Collecting payments in the field will require training and technology for your field employees.
Your current field management software may be equipped to handle field payments, card swipers pay for themselves in days, and the field staff learning curve is typically short.
- Highly skilled technicians will be doing tasks that would otherwise be performed by office staff.
You will reduce technician time overall as you reduce their time spent working with your office to resolve invoicing issues
- Equipping mobile devices with card swipers is a security risk.
Card payments reduce the risk of bad check losses, and, with RazorSync’s secure credit card processing, data is encrypted before the card reader sends it to your tech’s phone or tablet. (The transaction is secure at swipe.)
- Bank charges for card swipes will cut into your profit margin.
The transaction cost is lower than accepting credit cards at your office, as the card swiper eliminates card-not-present fees you pay when your bookkeeping department enters a card charge manually.
All that said, is there any good reason not to employ field collections in your field service?
If you have questions, give us a call at 877-675-4395 or sign up for a live demonstration of RazorSync’s features.