Bill payment automation software for financial services
A single platform for payment processing
The financial services sector isn’t without its own financial challenges. Decentralized solutions for electronic banking and payment authorization make for a disjointed ecosystem in which receiving payments is harder than it needs to be. Especially when large volumes of invoices need to be validated against contracts and legacy systems are making it impossible to both easily approve actions and make efficient changes without central bank involvement.
Serrala’s Alevate Bill Pay helps streamline your processes by simplifying the process of collecting payments from channels other than Direct Debit. Allowing you to send payment reminders that enable payment rather than simply asking for it, and allowing customers to authorize online payments in a way that makes them more likely to do it quickly, eliminates errors, and introduces real-time visibility.
Optimizing your bill payment processes
Our Alevate Bill Pay solution is a unified platform for digital payments.
It enables the bulk-sending of digital payment requests, which can then be fulfilled with a unique link straight from the message. Eliminating or reducing many of the problems caused by difficult manual payments processes, including low and slow conversion, high DSO, matching problems, a lack of visibility, time and money wasted chasing payments. And creating better experiences for customers.
Serrala customers report that they can consistently reach hundreds of thousands of people with bills and reminders quickly and painlessly, provide an evolving set of payment options, and smoothly reconcile every payment received.
What can our Alevate BIll Pay solution do for you?
Reduce your collections costs by 30-50% and lower total days sales outstanding by 1-2 days. Improving your working capital position and giving your teams back the resources they need to do more meaningful strategic work.
Our automated payment requests and links can embed into all digital channels – and paper as well. This means you can reach your customers where they are and retain copies on their client portal, with the option to set automated reminders via channels like SMS, all while keeping your own copies of every request on hand and easily locatable.
Track, report, and use the status of each message and payment in real-time, making it possible for your teams to identify immediate actions, updates, and optimization possibilities.
Give your customers the power to pay how they choose, when they choose, and in the amounts they choose. Turn payment requests into an element of a smooth customer experiences, and leverage contact moments provided by the payment process to upsell your services and enhance your customer data.
Payments begin as a simple message with a link on your customers’ device. But this process begins in your ERP CRM, or credit management application, allowing data to be collated in a single place to allow for simple reconciliation of all payments and quicker application of cash.
Every message and payment can be tracked in real-time, giving you unprecedented clarity into the status of your incoming cash. It also makes following up non-paid bills easier, and a better experience for the customer. And with cross-channel synchronisation, this process is even possible across devices, creating a system that’s both consistent and offers a high degree of choice and freedom for your teams and your customers.
Reduce your collections costs by 30-50% and lower total days sales outstanding by 1-2 days. Improving your working capital position and giving your teams back the resources they need to do more meaningful strategic work.
Our automated payment requests and links can embed into all digital channels – and paper as well. This means you can reach your customers where they are and retain copies on their client portal, with the option to set automated reminders via channels like SMS, all while keeping your own copies of every request on hand and easily locatable.
Track, report, and use the status of each message and payment in real-time, making it possible for your teams to identify immediate actions, updates, and optimization possibilities.
Give your customers the power to pay how they choose, when they choose, and in the amounts they choose. Turn payment requests into an element of a smooth customer experiences, and leverage contact moments provided by the payment process to upsell your services and enhance your customer data.
Payments begin as a simple message with a link on your customers’ device. But this process begins in your ERP CRM, or credit management application, allowing data to be collated in a single place to allow for simple reconciliation of all payments and quicker application of cash.
Every message and payment can be tracked in real-time, giving you unprecedented clarity into the status of your incoming cash. It also makes following up non-paid bills easier, and a better experience for the customer. And with cross-channel synchronisation, this process is even possible across devices, creating a system that’s both consistent and offers a high degree of choice and freedom for your teams and your customers.
Discover how Serrala AI-powered automation software is transforming the way financial services handle their finances
Kingpolis: lowering DSO by almost 50%
A young insurance company experiencing rapid growth, Dutch insurer Kingpolis sought to digitize its payment requests process to improve customer experience and create company-wide efficiencies by reducing late or missed payments and giving their finance team an instant view of transactions.
They turned to Serrala for a solution that not only sends payment requests automatically, but which enables payment at the same time. Lowering the barrier for people to make quick payments with unique links sent via email, SMS, or QR codes on paper requests.
Eliminating the need to set up manual bank transfers has helped ensure timely payments and allows for seamless reconciliation of the resulting transactions – along with the ability to instantly track any payment request and follow up if any action is needed. As a result, Kingpolis reduced their average DSO from 26 to 14 days and saved over 60% on their print costs by digitizing.
Implementing payment requests from Serrala was a big step forward for us. It was a smooth project that quickly paid for itself, and it has proven to be a reliable service
ONVZ – enabling comprehensive cross-channel payments
ONVZ are a specialist health insurer covering medical expenses. The company is a nonprofit based in the Netherlands with around 460,000 customers and 400 staff members. To minimize payment barriers and enhance customer experience, ONVZ turned to Serrala to help manage all payments that aren’t handled automatically via Direct Debit.
Our solution empowers ONVZ to turn every channel into a payment channel. After authenticating their identity, customers can use whatever channel they like to see and change details, submit claims, view bills, and make payments – all with a unified experience across every touchpoint. And wherever a customer chooses to pay, the status of a given request is automatically updated to “paid” in every channel.
The process is consistent, clear, and eliminates double payments. It also enhances customer experiences to provide an extra point of competitive advantage and ensures lower DSO and a more favorable working capital position.
Connect with us and begin unlocking the full power of your financial processes
