One industry in particular that can gain a competitive advantage amongst competitors by utilizing an ACH program, is the legal and litigation industry.
Many law firms already utilize the ACH system and dozens more are converting their operations and streamlining the way they do business everyday.
Some of the great uses of ACH systems for law firms are:
- The ability to put clients on payment plans by using the recurring billing feature
- The ability for clients or people who owe money to go onto the law firm’s website and pay
- This allows customers to make payments 24/7
- Some customers may not be able to make a payment during normal business hours
- It cuts down on the staff requirements of having to take payments from customers
- It allows payments to be made by customers over the phone
- When a law firm sends mail, certified or otherwise, recipients are able to log on immediately to the law firm’s website and make a payment
- This helps with issues of embarrassment of a payee having to call in.
- Right on a law firm’s website, a customer can set themselves up for a payment plan
- Giving clients several different options when it comes to settling debts or fulfilling obligations ensures client satisfaction and also increases the chances that you will get your money. Multiple bank accounts can be set up so monies go into the appropriate accounts while all operating expenses come out of a separate account
- With customers paying via ePayment (ACH payments) costs for accepting payments are much lower then when accepting via credit cards
- You can add customers to a Customer Database to keep track of them and to store their information (including payment information) in a secure and compliant web portal
- All transactions are logged and can be viewed 24/7 online
- A law firm can set up 50 different users under one account and assign various permission levels so each staff member has their own log in/password and custom view.
- Feature rich reporting capabilities allow you to generate many different reports instantly 24/7
- For prospective clients who need legal services and may not be able to afford to pay for them all at once, payment plans can be coordinated and put into the system to charge the customer incrementally.