The Benefits of Offering Secure IVR Payment Options

Cash flow is becoming an increasing problem among businesses and organizations of all sizes, and receiving money owed from consumers is becoming harder than ever in these tough financial times. There are more companies than ever that have to spend excessive amounts of time chasing after outstanding accounts. Not, only is this a waste of employees’ time and effort, which could be better spent focusing on company-related matters, but it is also a significant issue when it comes to having sufficient available funds to keep the company running. Offering secure IVR payment options is one effective yet simple solution to receiving money owed on time and in full.

What Is A Secure IVR Payment?

The term IVR stands for “interactive voice response,” and it refers to a hosted and agentless telephone payment system that is available for consumers to access 24 hours a day, seven days a week for a convenient and flexible solution to paying invoices and bills. Suitable for use by all kinds of organizations, from property management companies to medical practices as part of their health care collections system, BillingTree’s secure IVR payment options facilitate ease of payment and maximize the amount of money that can be collected in a timely manner.

How Does IVR Work?

IVR works by allowing callers to use an automated system over the telephone to make a credit card, debit card or ACH payment at any time of the day or night from their home telephone or cell phone without having to wait for an office to open or to leave the comfort of their home to mail a check or visit a bank. By making it easier for customers to use their preferred payment method, and to make a payment at a time that fits into their lifestyle, a secure IVR payment solution is one of the easiest ways to boost the amount of revenue collected.

A Flexible Solution

The BillingTree IVR payment gateway is able to be easily accessed through either a toll-free number or by routing from the company’s existing telephone system. Once callers arrive at the IVR gateway, they are presented with a prerecorded script and call flow. This can either be prebuilt or custom-recorded to suit your individual requirements and needs to improve usability, continue incorporating branding effectively and bring the system online as quickly as possible. The system allows for the simple capturing of payments via account-data validation and touch-tone prompts.

Helping Companies to Save Money

One of the great advantages of an interactive voice response system is that it can be self-managed, and this reduces staff expenses, as well as man-hours for a solution that is cost-effective. Because payments can also be made via credit and debit card, as well as ACH, there is no need to pay extra for processing a paper check – another easy way to reduce your company’s costs. And, because BillingTree also works with an established network of banks, companies can also enjoy competitive rates based on their trading volume.

Advantages for Companies

Although customers can enjoy many of the benefits of a secure IVR payment system, companies, too, can reap many of the advantages. For a start, the improvement in customer relationships should not be underestimated. However, the main benefits come in the form of freeing up staff to work on tasks that are essential to the company. Thanks to the automated nature of the system, there is less margin for manual errors, thus saving the company money. There is even the option to choose multilingual presentations to suit the needs of specific organizations. Even better, the IVR system is foolproof and easy to use, combining the optimal mix of usability and functionality with cutting-edge technology.

Reliability and Compliance

Compliance is essential and adhering to current legislation couldn’t be more important. When opting for BillingTree’s secure IVR payment solution, companies do not need to be concerned about complying the regulations since the system is entirely HIPAA-, SSAE-16- and PCI-certified for a secure and dynamic solution. Companies can also depend on BillingTree’s reliability and dependability. With financial solutions that have been deployed thousands of times with great success and fully QA and functionality testing, BillingTree offers an outstanding and convenient way to facilitate receipt of payments and a more efficient cash flow.

Ideal for customers who lack an Internet connection, who struggle with mobility or who would rather avoid dealing with an agent or representative, BillingTree’s secure IVR payment option is the perfect choice for speeding up receipt of outstanding amounts and for improving customer relations. With all of the convenience of being able to make a payment at a preferred time and using a preferred method, securely and safely, interactive voice response systems are an innovative yet simple way to boost revenue and to protect customer data.