Autopay: The New Frontier of Cash Collection
Mar 23, 2023
Late payments can have a significant impact on your cash runway and the financial health of your business. They can disrupt cash flow, affect credit scores and even cause operational challenges. According to the PYMNTS 96% of businesses experience late payments. Based on our data, on average merchants are paid in 34 days while the Average term of an Invoice is 24 days.
At Upflow we understand that cash collection is a top priority for businesses in the current environment, and that's why we are committed to providing the best innovative solutions to help your business succeed.
Autopay for faster cash collection
After helping you set up efficient AR processes and achieve a best-in-class cash collection we are thrilled to announce the release of Autopay in Upflow to push your Accounts Receivable collection even further.
Autopay gives you the ability to register your customers’ Credit Cards or Debit Mandates directly on your Upflow portal. Your customers are then directly debited on the invoice due date and you can sit back relax and collect what you are owed.
Never again chase late invoices
With the ability to save payment methods, you can now rely on timely and regular payments without having to spend time and resources on cash collection.
You can now focus on having a payment method saved for every customer and not chase late invoices. This will help you maintain a healthy cash flow and free up your time and resources to focus on other important aspects of your business.
Simple yet powerful
Autopay is a very powerful tool for businesses looking to improve their financial health and streamline their payment processes. It is now directly embedded in the best-in-class Upflow portal interface, available to all of your customers. With real-time payment status updates and automatic payment initiation, Autopay is the solution for finance teams who want to save time and reduce the risk of late payments.
Try it out today and see how Upflow and Autopay can help take your business to this new frontier.