“How do I bring simplicity to the chaos that is the invoice collection process?”
“How do I ensure my invoice is on the top of the stack, and is paid first?”
“I need to make changes to my accounting procedures. How do I collect & organize data to make better strategic decisions?”
“When, how and who is responsible for managing our company’s A/R?”
You probably aren’t the only one who has wondered these questions. Wind River Financial is pleased to announce a new partnership with TermSync; a software company with answers. CEO Mark Wilson started the company with the insight and experience he has gained as a CPA for some of Madison’s up-and-coming start-ups. TermSync issues its cloud-based software for the use of its customers (primarily B2B Suppliers) during collection of accounts receivable. TermSync’s platform, combined with Wind River’s credit card integration allows several key benefits to suppliers and vendors.
– A vendor can engage their B2B customers by automatically issuing bundled payment reminders for every open invoice. Pushing out electronic reminders to customers pings them to a due invoice and then proactively requests action from the purchasers. The customer can pay for the invoice at that time with a credit card (a Wind River powered transaction) or ACH payment, schedule payments for a future date, submit questions to vendors or even dispute the invoice.
– Additionally, TermSync helps put structure around the follow-up of the collection process. Suppliers can now optimize their staff by assigning tasks, logging calls, managing activity and tracking results by employee or customer. Think of it as a CRM for accountants and finance professionals.
– Lastly, when the invoices are paid, customers can use their dashboard to track key metrics, run custom reporting and use data to make more strategic decisions about A/R collection in the future.
While the value that TermSync is providing to its direct users is undeniable, even more innovation is seen through the “network of payers” that is created. In buying from a supplier that uses TermSync, you are offered new efficiencies for no additional cost. Paying multiple invoices to several vendors with one click saves time and operating costs. Last week, TermSync just flew past the 100,000 mark of customers who use the TermSync platform to pay and manage invoices with vendors.
Wind River Financial is helping TermSync deliver on their promise of “getting paid faster” by speeding up the entire collection process. Having the cash on hand quicker is the ultimate benefit that TermSync delivers. The faster and more efficient collection of cash allows flexibility on spending initiatives and dramatic benefits that drop directly to the bottom line. Listen to Business Credit Radio to hear more about how TermSync is changing the way businesses pay each other. Also, please contact Pete Uselman to see how Wind River is bringing value that exceeds the scope of payment processing.