What is Registration Autobilling and Why Should I Be Doing It?

by Asaf Darash,

Registration autobilling is an easy way to collect funds from applicants. It allows applicants to pay for products now and at set times and dates in the future. It’s a great tool in your registration and payments toolbox because it allows applicants to pay for their orders over time, instead of all at once. It also helps organizations using autobilling to increase and predict their cash flow by automating the payment process for them, and their applicants.

Regpack clients who have been using autobilling have seen:

  • 75% decrease in non-payment!
  • 25% improvement in cash flow!
  • Increase payment rate by 35%
  • 35% conversion increase on applicants turning into paying clients!

There is a great video that highlights how autobilling functions in a registration and payments software. Scheduling payments are a great way to organize deadlines for certain products or events and provide a variety of payment plans and installment plans that make sense for your applicant base and your cash flow.

What is Autobilling, technically?

Autobilling just means automatically charging a client who has opted in to this payment structure during the registration process, at set times and for specific amounts. Times can be set either by specific dates or number of days relative to a specific event or date. For example, on the 1st of the month OR 10 days before the event date. Additionally, amounts charged can be a specific amount, a specific product, or a percentage of the balance. It also includes the ability to dynamically charge and set due dates, depending on the day the applicant starts the plan. Autobilling for your applicants means payment plans. You decide which “plans” you want to offer applicants and they can choose which plan fits their needs during registration.

Learn more about Regpack’s Autobilling features and how they can help improve your cash flow! 

Why do I need Autobilling?

Autobilling isn’t a standard feature in all registration and payments software. Many organizations are used to making due without such a feature. Or are used to a workflow that includes going in on a certain day of each month and manually charging saved cards, emailing payment reminders to applicants and so on. But why! The whole point of registration software is to AUTOMATE processes so you spend less time on admin and more time on the important stuff! Plus, humans makes mistakes. Why not automate a process that is rife with human error to prevent cash flow problems before they start?!

Below are just a few, ok a lot, of reasons why you NEED Autobilling.

  • Autobilling increases cash flow. By 25% actually.
  • Increases flexibility for you and clients.
  • Increases on-time collection. You’ll see a 75% decrease in non-payment!
  • Steady flow of revenue. Predictable cash flow is very important, especially to small businesses!
  • Eliminates late fees – which clients love. And this is just a hassle from an admin perspective!
  • Automate invoicing and communication related to payments. Again, registration software is all about automating manual processes to save you time and money!
  • Makes refunds, declines and other payment issues easy to manage and remedy. While the process of refunds and dealing with declines isn’t completely automated, when you can quickly point out and identify payment issues as they come up, you up your customer service game and save yourself money in the end!
  • Improve efficiency for billing and payments. Any ability to automate processes related to payments is worth it! Cash money is oxygen to organizations, and ensuring you get paid and on time, is crucial for your success.
  • Loyalty from clients! Providing a professional and streamlined experience, with payments and registration, shows you are flexible, easy to work with, organized, responsible.
  • Autobilling is CHEAPER! Reduces time spent on billing, missed payments, unpaid accounts. And, our clients using autobilling have seen 35% more applicants converted into paying clients, which is more money in the bank for you!
  • Easy reporting! If you love reporting on your data, you’ll love autobilling. You can run reports on expected and future income, either future payments generally or for a specific date range. You can also report on any failed payments, so you can make sure to address issues immediately.

The BEST Benefit of Autobilling

The best benefit for autobilling is for organizations with products or events and programs that are very costly. Autobilling allows applicants to pay for these easily with installments. Instead of managing these installments manually or hoping applicants to remember to pay on their next due date, autobilling takes care of this for everyone, automatically!

What is the relationship between Autobilling and onboarding clients effectively? How do other onboarding automation software tools help make Autobilling successful?

A part of your larger onboarding process is making the registration and payment process smooth, easy and intuitive. Registration is essentially your onboarding process, and your software and your website is your storefront. Putting forth a professional experience goes a long way to successful onboarding.

Autobilling is a great compliment to this idea. With a quality software and autobilling working together, you can easily filter and find payment issues, so they can be addressed ASAP before you lose the client, deal with chargebacks, or have to start wasting time issuing refunds. This kind of attention to detail is great for your customer experience. Using triggers to automate your management process is a helpful onboarding tool within your software as well. You can set up reminders for yourself, have emails go out at pre-scheduled times based on user actions – all of these tools take the load off of your plate and keep you communicating effectively with applicants. Not to mention applicants will appreciate multiple ways to pay – both in paymenet methods offered and with payment plans that suit a variety of budgets, families and companies.

Conclusion: Why do I need a complete onboarding automation solution?

You should be focusing your time and energy on meaningful connection with clients and not on billing! Merging autobilling with an onboarding automation software (vs. using a billing only software) saves you even more time and makes the process of gathering client information and setting up payments easier and more seamless!

 

Learn more about Regpack’s Autobilling features and how they can help improve your cash flow! 

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Regpack is an online registration software that creates intelligent application processes with integrated payment processing.

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About The Author

Asaf Darash

Asaf has extensive experience as entrepreneur and investor. Asaf has built 3 successful companies to date, all with an exit plan or that have stayed in profitability and are still functional. Asaf specializes in product development for the web, team building and in bringing a company from concept to an actualized unit that is profitable.