Stress Levels of Late Payments

All CEO’s & CFO’s stress levels increase when invoices are sent out on time, but payment is not made on time. You have expenses, you have salaries, and a massive chain reaction ensues.

Business owners stress about late payments, even when they are trying to enjoy leisure time with family and friends. The pressure is even more intense on owners of the smaller businesses (<10 employees) where an alarming 88% said that they worry about collecting the money owed to them. Nearly 1 in 10 (9%) have considered accessing professional support to help them cope with their anxiety.

Late payments force business owners to go into overdraft, cut their own salaries, stall on payments to suppliers and pay bills late, but it goes even deeper than that. 17% say that payment delays undermine their confidence in their ability to run a business and 16% worry about the payment issue every single working day. Constant anxiety and relationship problems seem to be the norm.

The Bad News

South Africa & the world is currently in the grip of a pandemic where clients will rather pay for food and personal debt first, before paying you for services rendered.

The Good News is There is a Solution:

eColls is not just a payment solution, but it rewards your clients for positive payments habits. Clients can use these rewards vouchers at Shoprite / Checkers and Dis-Chem

Payment is done in a few easy steps.

Outstanding payment can be scheduled to be automatically transferred for Debt Collection at eColls’ internal Debt Collection Agent Nudebt, if payment is not received in the specified timeframe.

Customers can create arrangements and make payments without any added costs or fees via the integrated WhatsApp Business. It allows the customer to update his/her personal information, log their queries, make arrangements and choose from an array of payment options and then get rewarded.

eColls is:

• Mobile: accessible on any Smart Phone, Tablet or PC.
• Secure: All your information is safe and secure & POPIA complaint.
• Convenient: Multiple Payment Options for ease of use
• Interactive: Log your query/ get a statement/ verify your balance via WhatsApp
• Rewards: Customers get rewards for positive payment habits.

Contact eColls now to solve your late invoice payments, and keep your stress levels at a low.