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How to gain a competitive edge through your firms payment methods
Enabling clients to securely pay their bills online enables faster payment collection, improved client experience and reduced administration time.
Firms that have made the most out of remote working have done so by adapting to changes. It was reported last year that firms are 37% more likely to be using online payment solutions, 41% more likely to use client portals, and 46% more likely to use client intake and client relationship management (CRM) solutions.
Perhaps one of the ways in which your firm can keep up with its competitors is to build a resourceful nest of integrations that can, in turn, provide a culture of effective client engagement, as well as delivering fruitful new business opportunities for your firm. As more firms start to develop this approach, it’s more important than ever to harness this opportunity.
Where to start
Look closely at payment methods, as it is an area that could be transformed into an efficiency maximising machine for your firm, and is now quickly becoming a must have amongst many. It’s time to start thinking about the future and embrace the many advantages that a payment portal can offer your firm and your clients.
Today, your firm can benefit from investing in a standalone payment portal that allows your firm to connect with a wide range of commonly used payment gateways such as Barclaycard, Stripe and WorldPay – making transactions across the world convenient for everyone. Your firm can also go one step further and have a sleek and efficient payment portal that is fully integrated into a much-needed, secure, cloud based client portal, where the possibilities become endless.
A smart client facing portal for your payment needs
A payment portal is perfect for any firm looking to digitise payment collection. Consider having the payment portal linked to a smart client portal where clients could view a list of their active matters and any associated unpaid bills and pay money on account if they need to. It won’t end there, as the platform could also potentially facilitate an administration zone to create extensive financial reports of all transactions made, and guarantee maximum efficiency when it comes to billing and understanding financial case reports – as a wealth of valuable data opens up to your firm on income and expenses, all recorded within your PMS.
Staying secure for your firm and your clients
One of the biggest benefits to consider when looking at a payment portal is that it is within a secure, cloud based legal platform and can provide your firm with new and much better levels of security measures.
As we all know, hackers and possible breaches will always be watching over the workplace if there are paper trails that can be interrogated by anyone. Digitalising the process is by far the best way to reduce the likelihood of client details entering the wrong hands and possibly causing costly or even irreversible data breaches within your firm or at your client’s expense. The need for a high level of security when handling sensitive client payment information is essential, and it is something clients look for when choosing a service.
Be prepared…
As operational efficiency is now more important than ever, perhaps now is the time to delve deeper into how a payment portal can support the ongoing growth of your firm.
To find out more, contact Scott Brown
[scott.brown@theaccesspoint.co.uk]
