All office managers are looking for ways to save money and make operations run more smoothly. However, spotting ways to improve can be tricky. One overlooked area that can cut expenses is your payment management system.

The value of a good solution is hard to quantify just by the price tag. After all, efficiency in your processes can add up to a big savings in other areas of your business. That’s easy to overlook if you’re not paying attention. Here’s what your payment system should do to maximize efficiency in your office:

One of the best ways to improve office operations is to minimize the menial tasks your staff has to do to keep the business running. By using accounts receivable automation to reduce manual work in your office, you free employees up for more important tasks. A few of the accounts receivable jobs your payment management system should be able to handle are:

• Automated Payment Reminders - Pick a system that sends out your payment reminders without a staff member having to remember or initiate them.
• Receive Digital Signatures on Recurring Payments - Look for a solution that can obtain a signature and payment together while on the phone with your consumer, reducing mail costs, delivery time and compliance headaches.
• Consumer Initiated Payment Methods -  Online payment portals, mobile initiated payments, and automated voice payments through an IVR will allow payments to flow in 24 hours a day without a single employee spending time to process them.

An omnichannel payment system is one of the best ways to increase revenue while making daily operations more efficient. It is important to provide ‘self-cure’ options to your customers along with new and traditional payment technologies. Consumers are becoming more reliant on technology for paying bills, so those who prefer self-cure options will jump at the chance to pay bills through a website payment portal, IVR system, text message or email.

Self-guided payments eliminate the need for your staff to take payments over the phone. The time saved by these convenient payment options can be used for higher-level tasks, or to serve customers that still prefer a human touch. Of course, the effectiveness of omnichannel offerings comes from also accepting multiple payment types. That way, you can offer the highest level of convenience to customers, which leads to efficiency within the office. A complete payment solution should provide you with:

• Ability to accept credit cards and ACH payments
• A user-friendly online payment portal
• An IVR payment option
• Pay-by-chat
• A mobile-optimized payment site
• A virtual terminal (so any computer can become a cashier station)
• Credit card swipers for in-person transactions

Omnichannel payment offerings take unnecessary work off your plate, and provide efficiency through positive customer interactions. Providing a payment option for everyone decreases the chance of dissatisfaction with the process. Any time your customers are happy, it reduces the amount of time staff spends addressing consumer complaints.