The goal of finance transformation is to provide a reliable and cost-efficient payment system that allows customers to pay for goods and services in a fast and secure way. To achieve this goal, you will need to consider a number of factors, including the types of payments your company accepts and the channels customers use to make purchases. In this article, we present 10 tips that can help you boost customer payment portal adoption.
- The first step is to build a cohesive vision for the future of finance that includes both the digital payments technology and the customers who use it. Define your ideal customer profile which includes demographics, volume of transactions, average account balances, type of products they are buying, accounts payable approval processes they may have. Decide exactly what type of customer payment options you can enable for them that can suit their business needs,
- Introduce your customers to the benefits of your payment portal by inviting them to test drive it before they commit. Articulate the benefits in terms of productivity, efficiency, cost savings and incentives,
- Offer incentives to those who sign up,
- Establish clear policies for how employees should use the portal versus cash or checks,
- Monitor usage data so you can see at a glance which customers are using the system,
- Offer guidance on how employees should handle exceptions when customers want to pay with their credit card,
- Hold periodic orientation sessions for new hires and those who’ve missed previous trainings,
- Create clear procedures for how employees should address common issues,
- Train managers about how to guide staff through common problems with payments,
- Consider investing in proactive training in areas where you have high turnover rates.
