PayNow delivers efficient payment workflows and reduces days outstanding for Waterloo Media

A lack of electronic payment capabilities was inhibiting efficiency and straining resources

Prior to implementing PayNow, Waterloo Media had no option for customers to make payments online. Most payments came in the form of paper checks via a lockbox, remote capture and paper credit card forms. Issues were present in this structure, from delays in receiving payment to checks or invoices simply being lost.

Traditional billing workflows were becoming unsustainable as Watkins’ team became much smaller. “Having a small team meant less hands to do the manual processes, and we needed to become more efficient,” she said.

Watkins also recognized that electronic invoicing and payments were the standard in personal finance. “I do not know anyone who doesn’t receive and make payments online in their personal space. It was something the company needed to get on board with.”

PayNow delivers the efficiency and boost in cash flow Waterloo Media needed

After evaluating her options for electronic payment solutions, Watkins determined that PayNow was a great solution for her team and the company. Since customers had never had an online payment option, the implementation of PayNow was both internal and external.

In working with the Marketron team, Watkins relayed that it was a great working relationship that ensured a successful launch, from implementation and onboarding to going live. This included regular meetings with next steps and how to push the initiative for internal sales team and customer buy-in.

One thing that helped them understand their customers’ perspective was creating an account for themselves to see and do what the customer experiences. “Support staff suggested this, and it’s like a test environment for us to assist our client base in real time,” Watkins said.

Overall, it’s been pretty seamless for advertisers. “You do not have to be tech-savvy to navigate the platforms.”

High adoption and reduced days outstanding are big wins

Watkins’ main goal was efficiency, and her team has achieved this. All new client setup is with PayNow only.

Guest checkout has been very useful, as people don’t need to log in to remit payment, and they can choose which invoices to pay. Agencies can use PayNow to make payments for all their clients, eliminating the need for individual checks by advertiser.

Reconciliation is much easier now, as she can import payments to match the invoices. With the easy way for customers to pay, days outstanding have been steadily declining.

• Greater efficiency for a smaller team
• Easier reconciliation
• Steadily declining days outstanding