Getting your invoices paid on the day you send them is the dream scenario of all those in business for themselves, but Will Qu, and his fast-growing digital marketing agency, RankRise based in Melbourne, Australia is making this pipe-dream, his very real reality thanks to Paidnice.
Managing cash flow for any business is tough enough without the headache of chasing down client payments. For founder Will, payment delays and friction getting paid on time was draining precious energy he would otherwise be using delivering results for his clients.
Like most agencies, RankRise struggled with late client payments and friction getting paid on time. Will spent precious energy manually chasing payments rather than focusing on client results. As Will put it:
"Before Paidnice, collecting and chasing payments was manual. I had to send monthly reminders about outstanding balances, but the automated Xero reminders often went to clients' junk mail."
Frustrated with wasting time on collections, Will searched for a tool to automate accounts receivable. He found multiple recommendations for Paidnice on Xero's community forums. Attracted to the idea of automating every step of the post-invoice send flow, such as:
- 5% prompt payment discount for 7 days.
- Custom branded Email reminders, from his own domain (that didn’t go to junk mail)
- SMS reminders with open rates of 95%
- Late fee warnings ahead of being issued.
- Automated customer statements sent each month with outstanding balances.
Will was blown away with Paidnice's set-and-forget approach to accounts receivable:
"I love that it's all automatic - late fees, SMS and email reminders, discounts. Once you turn on the settings, everything works seamlessly without any effort."
Within a month of setup, Will collected his backlog and got paid the day he sent future invoices - unheard of in his industry.
"We went from chasing payments to getting paid same-day. I’ve never seen anything like it!"
By gently incentivising customers with small discounts for fast payment, Paidnice created predictable, reliable cash flow.
By gently incentivising his customers to pay sooner with a small discount,
With his cash flow now on autopilot, Will won back mental energy previously spent on collections. Will achieved his nirvana with predictable, and reliable cash flow that put his mind at ease.
"Not worrying about payments lets me focus on strategy with confidence our cash flow will take care of itself."
Paidnice's automation gave Will the peace of mind all business owners deserve. As Will put it:
"Paidnice saves me time on follow ups, takes away cash stress, and lets me focus on clients. It's a no brainer!"
Will Qu
RankRise
