There is no denying that the year 2020 was a difficult one. It led to many changes across the globe. Companies had to make the shift to remote work. Retail, restaurants, and other types of businesses deployed contactless, digital methods to keep things running.
As for accounts receivable extended businesses, they experienced considerable hurdles which were not as straightforward to overcome. Since in-office work was no longer possible, they struggled initially. However, compliance managers made use of technology to ensure compliance. The following are some of the lessons that have been learned during the pandemic about technology adoption.
1. Consider User Experience
One of the biggest lessons during the pandemic is that user experience is extremely important. It is not something that should be taken lightly. You have to treat your clients with great respect and care. It helps ensure loyalty and allows you to collect more. Although a good customer experience means different things, the following are some areas where you can improve satisfaction through technology adoption.
- Preferred Communication Options: Provide customers with more communication options, including email and text messages, to provide a better user experience. When customers can choose a communication channel that is most convenient to them for interactions, they would be more likely to make payments.
- Simple, Branded Payment Portal: By creating a simple, branded payment portal, you get to ensure that customers benefit from a seamless experience. It should feel like an extension of your business. It is easy to find, simple to use, and properly branded with the company logo and colors.
- Quick Payment Workflows: A digital communication tool should be used for speeding up the amount of time it takes to collect payments. This is possible with electronic signatures and PINs.
2. Follow the Customer Journey
The next lesson we have learned during the pandemic about technology adoption is the importance of following the customer journey. To truly understand your customers, you have to audit their entire journey. This is possible by leveraging digital customer journey mapping. It lets you understand consumers every step of the way, from the moment they learn more about your business to make payments. Analyze each aspect of the journey and help streamline it for greater success.
3. Ensure Flexibility, Quick Adoption, and Ease of Use
Finally, you have no option but to ensure flexibility, quick adoption, and ease of use if you want to stay competitive. After you have analyzed your performance, you can start making changes to improve collections. Here is how you can master each.
- Flexibility: Utilize a digital communication tool that offers greater flexibility for customer interactions.
- Fast Adoption: FLOW Technology might just be what you need to get your business up and going within just a few hours or days.
- Ease of Use: Use an all-in-one workflow tool for providing agents with the ability to perform multiple tasks and provide consumers with advanced capabilities.
Now that you know the technology adoption lessons learned during the pandemic, it is about time that adopted them to ensure success. Click Here to reach out.