Madison, WI (PRWEB) May 09, 2013
TermSync, a cloud-based accounts receivable platform, announced today that more than 100,000 companies are now part of the TermSync network, in large part thanks to the new ability to use customer-centric feature CustomerConnect without implementing the full accounts receivable management solution.
TermSync is an accounts receivable software platform that allows businesses to better engage their customers. The result is improved customer relations, reduced processing costs for all parties, and faster payments for vendors. The growth in the number of companies using TermSync has been spurred primarily by the value provided to businesses paying invoices and interacting with vendors through TermSync’s CustomerConnect platform.
While the overall accounts receivable management can be implemented in less than a week and has resulted in clients receiving faster payments, reduced processing costs and improved customer relations, there are still some companies not currently looking to utilize a workflow management system in their accounts receivable department. However, these customer-centric companies may still wish to offer their customers free access to CustomerConnect. For the reason, TermSync is now offering CustomerConnect to those vendors who do not yet need the overall accounts receivable management solution.
“We feel confident that virtually all B2B companies can benefit from TermSync’s complete solution,” Mark Wilson, CEO of TermSync, said. “However, we also understand that many companies are in the middle of other projects or are simply satisfied with their existing workflow process regarding A/R. Recently, we have received many requests from prospects to offer CustomerConnect even if they are not yet ready for the complete solution. We, of course, are confident these businesses will one day utilize the complete offering, but we also want them to be able to offer their customers access to CustomerConnect today.”
CustomerConnect is a key part of TermSync’s overall accounts receivable management software and allows businesses the ability to manage invoices from all participating vendors in one free central platform rather than having to create a username and password for each individual vendor’s website. Companies receive one bundled email reminder that contains information about upcoming invoices from all their vendors, eliminating the clutter caused by traditional paper account statements and individual vendor e-mail reminders. The interactive emails also allow customers to easily click through to ask questions, file disputes, apply credits, and make payments from one central location.
“Businesses today, even small businesses, work with multiple vendors many of which have several invoices per week that need to be approved and paid,” Wilson added. “By offering access to CustomerConnect, vendors selling to these businesses are able to show they respect their customers’ time and are willing to utilize a standard platform rather than trying to force their customer to create yet another username and password at their individual customer portal. The vendors are rewarded with happier customers and faster payments.”
The vendors are also measured on metrics such as customer response time, invoice accuracy, and overall customer satisfaction. Having access to these metrics, combined with the ability to manage several vendors from one location, has led to an increased likelihood of customers proactively submitting questions through the TermSync platform rather than waiting for vendors to call them looking for payment.
In addition to CustomerConnect, TermSync’s overall accounts receivable management software provides workflow management for accounts receivable staff. The majority of businesses currently use outdated and inefficient combinations of sticky notes, spreadsheets, and Outlook reminders to manage the accounts receivable process. TermSync’s workflow management helps companies gain efficiencies and accountability, similar to what a CRM solution does for the sales team.
About TermSync, Inc.
TermSync connects thousands of B2B vendors and customers through our standardized, cloud-based platform. Leveraging the collective power of the TermSync network as well as intuitive, non-disruptive technology, our clients are able to improve customer relations, reduce processing costs, and get paid faster. Our technology operates in tandem with existing accounts receivable workflows, can be up and running in about a week, and receives rave reviews from our clients and their customers. We are committed to finally bringing A/R into the 21st century! TermSync is located in Madison, Wisconsin. Learn more at http://www.termsync.com.