User story - BK Plus

Challenge

Businesses shouldn’t have to struggle to receive payments, and clients shouldn’t encounter difficulties when paying their invoices. However, the process of making and receiving invoice payments can still be a significant challenge for both parties involved. This endeavour can then result in delayed payments and cash flow issues, both factors businesses would like to avoid. BK Plus aims to resolve these complications by offering their clients a straightforward and affordable online checkout solution, ensuring timely payments and client satisfaction. 

"Internally, we want to make it as easy as possible for clients to pay their invoices and, from a collections point of view, set up payment plans to help our clients."

Choosing an accounting software that seamlessly integrates with BK Plus’ chosen accounting software is crucial. A flawless integration eliminates the need for manual reconciliation of payments and invoices, saving the firm valuable time. Furthermore, to maintain their clients’ confidence in the advisory services they offer, it is essential that BK Plus recommend an effective and reliable payment solution. 

"Externally, we are looking for a solution that is seamlessly linked to cloud software and gives our clients the benefits of electronic collections without the cost traditional methods incur."

Steven, the Client Technology Lead at BK Plus, understands the significance of finding a reliable payment solution that provides fast, seamless, secure transactions at no cost to the user. Discovering such a product would greatly benefit the businesses BK Plus looks after, allowing them to achieve optimal cash flow and more. So, Steven embarks on a quest to find a technological solution that ticks all the boxes. 

Solution

After conducting a thorough testing phase; the Tech team at BK Plus determines Crezco is the ideal payment solution for their needs. They surmise that Crezco’s account-to-account payment capabilities keep payment processes simple. This ease is maintained by incorporating payment links directly onto invoices, allowing client transactions to be completed in seconds, and dismissing the use of cards entirely. Additionally, automatic reconciliation gives the added benefit of accurate financial tracking, and pre-populated payment details mean clients have no ability to make human errors, like sending money to the wrong recipient.  

"Our collections team uses Crezco extensively and so does administration staff that are testing the solution for our internal use. For those staff testing it has become normal, albeit not integrated into our practice management solution. This will be standard practice once integrated."

In contrast to traditional payment providers, Crezco leverages open banking to enable instant domestic account-to-account payments. Users can receive unlimited payments without incurring any additional costs. Crezco also safeguards its users with an ML fraud protection system to save payers from scams and payees from chargebacks. Furthermore, there is no need for users to share sensitive debit card, or account details online as the seamless payment flow simply redirects them to their business bank account to approve verified payments.  

Results

Now onboard Crezco, the accountants and clients of BK Plus enjoy all the benefits free payment processing and real-time notifications have to offer. One key advantage is how easy it is to track incoming payments. When a client’s payment is instantly received, it then seamlessly reconciles within BK Plus’ accounting software. Another perk is Crezco’s smooth integration with BK Plus’ ERP system. Payment handling is now accurate and easy as payments are directly transferred from customers’ bank accounts to BK Plus’ bank account.  

"Credit control can easily verify payment has been received as Crezco immediately triggers an e-mail. From a back office point of view, the reference pushes through with the transaction, which makes it easy to match. We do not have to run a separate 'bank account' in our ERP solution, as the payments received are directed immediately to our bank account and published with reference through the bank feed. This saves immensely on administrative burdens, and there is no cost for these transactions as with other providers."

Through this collaboration, BK Plus joins with thousands of companies already benefitting from Crezco, ensuring timely payments with no associated fees.  

Next steps

BK Plus is pleased and confident to roll Crezco out to its users, after diligent testing of the platform. The free nature of Crezco and its compatibility with prominent account software platforms, including Sage and Xero, make onboarding clients effortless for BK Plus. Setting up an integration takes less than a minute, and the benefits Crezco brings to managing payments are evident from the first click. 

"Introducing our clients to these benefits that we have tested extensively. We are happy with our support levels and our relationship with Crezco is strong, which gives us confidence to introduce our clients to the service. Crezco integration to widely used cloud applications makes this of real benefit to clients."