A critical part of any pay per use finance solution, where variable payments are anticipated, is that of the billing and collecting process. If you are a business equipment or services vendor that is using an asset finance partner or currently considering a partner, you no doubt rely, or will rely, on them for some or all the billing and collecting process for these payment solutions.
Have you considered the impact the billing and collecting capabilities of your partner has on the flexibility of your overall solution and your client experience? Often an afterthought, but often critical to your client’s perception of your service. Here are just a few items you should consider:
Can your asset finance partner provide you with the ability to provide your client with one bill for their pay per use solution? That is, if there is a minimum monthly contribution and an additional charge for use over and above that minimum, does this all appear on the one invoice for your client?
For your larger clients with multiple locations or business units, can your pay per use payment solution partner offer the ability to provide your customer with cost centre billing? Allowing these clients to allocate use to a business unit, location or similar?
Can these invoices provide as much or as little information as you require for your clients, based on various available templates?
In addition to the above, does your asset finance partner offer you the necessary transparency in relation to the tracking of these pay per use agreements and the current balances where the agreement is a volume–based agreement?
Lastly, but most importantly, are you confident in the service provided by your pay per use asset finance partner to provide your clients with an exceptional experience when managing the administration of your pay per use agreement billing and collecting? This is critical in a pay per use scenario as these agreements require much more attention than a conventional “set and forget” rental agreement. Are you confident that your asset finance partner represents your brand the way you expected it to be represented?
3E Advantage, your billing & collecting specialist
3E has invested heavily in developing our systems and processes to support our innovative pay per use solutions with market–leading billing and collecting services for our partners. Our team are equipped with the knowledge, skills and solutions necessary to provide our partners with best of breed billing and collecting, ensuring we provide our partners with the flexible solutions to assist them in exceeding their clients expectations.
Speak to our team about our one bill capabilities, our flexible invoicing and our transparency. All designed to provide you with a comprehensive billing and collecting solution for your transactions, especially your pay-per-use.
Other recent posts
