Create and Send an Open Invoice for a Failed Subscription Payment – A Game-Changer for Your Business
At Bosseo CRM, we’re thrilled to announce a revolutionary feature designed to transform how businesses handle failed subscription payments: the creation and automatic dispatch of open invoices. This tool empowers businesses to efficiently manage and rectify failed payments, ensuring a seamless experience both for businesses and their customers. Featured in the Payments, Invoicing, and New categories, this update is poised to optimize financial operations across various sectors.
Understanding the Innovation
This new feature is designed to streamline the process of collecting payments for businesses using native integration payment providers like NMI, Authorize.net, and Square. In scenarios where automatic subscription payment processes fail, an invoice will be generated and sent directly to the customer. These invoices function similarly to regular invoices, with the critical distinction that they have limited edit capabilities – the invoice amount, customer details, and email content are predetermined by the existing subscription information.
Seamless Integration and Functionality
When a subscription payment fails, this functionality ceases disruption for both businesses and customers. Customers can conveniently complete their transaction either through existing payment retries or by using the newly created invoice. Upon successful payment through these mechanisms, subscriptions are reactivated immediately, provided there are no other outstanding invoices.
Where to Access the Invoices
The invoices are easily accessible under the path: Payments > Subscriptions > Subscription Details > Invoices, ensuring that business owners and administrators can effortlessly manage and oversee the payment status of their subscriptions.
Use Cases Across Various Industries
Home Improvement
For home improvement businesses, maintaining a steady cash flow is vital. This feature means that should a customer’s subscription to a premium maintenance or home service package fail, a quick and automated invoice ensures that payments aren’t delayed. Whether it’s for monthly lawn services, plumbing checks, or pest control, businesses can rely on this tool to keep their services seamlessly operational.
Lawyers and Legal Practices
In the legal sector, where timely retainer fees and subscriptions to ongoing services are common, ensuring these payments are processed without hiccups is crucial. This feature allows law firms to manage subscriptions for ongoing consultancy, client access to legal libraries, or automated document services efficiently, ensuring that any lapses in payment do not interrupt legal compliance or service delivery.
Medical Practices
Medical practitioners often operate on a subscription model for services like routine check-ups, subscription-based health consultations, or specialist access programs. Failed payments can disrupt patient care; thus, the prompt sending of an invoice ensures that there is minimal interruption in patient services and care delivery.
Looking Forward
Businesses will soon have the ability to customize email templates sent with invoices for subscription payment failures, enhancing both brand representation and communication clarity. This means that businesses will be able to tailor their customer interactions to fit their specific needs and branding more accurately.
Integrating this feature means that not only is your business prepared for potential payment failures, but it also implements a systematic approach to resolving these issues with minimal human intervention.
