User story - Hippey Accountancy Services

Challenge 

It is always hard to deal with overdue payments, especially when it comes to the reconciliation process. It can easily become a nightmare and the way companies handle payments has a lot to do with the success of this process. 

"Some of our clients have faced issues with reconciling inward invoice payments, particularly from other businesses / individuals who claim to have made bank payments but the money has not reached their bank accounts as expected."

As an accountancy firm, Hippey accountants needed to provide an easy way to collect payments which eased the reconciliation process for their customers and themselves. 

We also have a client who collects reoccurring monthly fees however the current system cannot automatically reconcile the accounts and requires their customer to renew the agreement every year – very time consuming!

Solution 

Hippey Accountancy chose Crezco because it allows their clients to easily collect payments and to reconcile them instantly, thanks to the Xero integration. 

"So far, the immediate payment notification & reconciliation via Crezco & Xero works very well, it allows our retail clients to accept direct bank payments at no cost and gives them payment confirmation without having to log into their own online banking each time. This ensures any member of staff can view the paid invoice and that no customer leaves the premises without paying for the product, this is protecting the business from losses incurred by non-payment."

Using an instant payment solution that works directly within accounting software like Xero enables the reconciliation to be done automatically and seamlessly. Crezco has achieved this via their unique partnership with Xero while leveraging open-banking to provide instant payments. Customers do not need to share debit card details online or create an account with Crezco, they are merely securely redirected to their bank accounts to authenticate approved payments.

Results 

Because Crezco payments are instant and free, it was an easy decision for Hippey Accountancy to use it. They can now collect payments and reconcile them instantly and easily but they can also provide the same services to their own customers. Crezco has not only benefited Hippey Accountancy but they've also introduced Crezco to their clients, providing further value-add by identifying the best payment solution for UK businesses to collect instant payments.

With this partnership, Hippey Accountants join thousands of companies using Crezco to enhance their payment collect for free and with all the latest security measure. 

Next step 

Hippey Accountants will continue to grow and will keep Crezco on their side all along the journey. They are waiting for Crezco to deliver the recurring payments functionality, which is days away from being live. 

"We’re looking forward to Crezco introducing reoccurring payments as we believe this will benefit a number of our clients who currently use another provider or have been prevented from using recurring payments by complex set-up and administration."