User story - LilyIris Accounting
"For one-off fees we’ve found clients pay us within the hour through Crezco. It has also helped us provide our clients with the facility to get paid quicker and show that we are a trusted source as we use Crezco ourselves."
Samantha
Director, LilyIris Accounting
Company intro
LilyIris Accounting Ltd is a team of 6 (plus 2 dogs!) providing bookkeeping and payroll services to small and medium sized businesses specialising in the Construction Industry.
Key benefits
- Invoices paid faster
- Improved customer relationship
- Instant reconciliation
Challenge
Getting paid on time is still one of the most difficult challenge to tackle in the daily routine of a business. Accounting firms are no exception to the rule. This recurring problem is not an easy fix and the traditional payment methods lack functionality and convenience when it comes to invoice payments.
"Delays in payments and the faff of setting suppliers up to be paid online banking"
LilyIris Accounting needed a simple, secure, online payment solution to collect payments and allow their clients to pay in seconds directly from the invoice sent. They also needed a checkout solution working with their favourite accounting software and ideally one that reconciles payments instantly.
Solution
LilyIris Accounting chose Crezco because they can collect large payments instantly and for free. They can do it directly via Xero thanks to Crezco's seamless integration, which also reconcile invoices automatically.
"For one-off fees we’ve found clients pay us within the hour through Crezco. It has also helped us provide our clients with the facility to get paid quicker and show that we are a trusted source as we use Crezco ourselves"
Unlike traditional payment providers, Crezco uses open banking to initiate direct account-to-account payments. Domestic account-to-account payments are free and instant. They also come with an advanced fraud protection system protecting payers from invoice fraud and payees from chargebacks. Customers do not need to share debit card or account details online. They are simply securely redirected to their bank accounts to authenticated approved payments.
Results
Because Crezco payments are instant and free, LilyIris reduce their receivables cycle and improve their cash flow. They can now collect payments and reconcile them instantly. Even better, they can now recommend Crezco to their clients, adding further value to their business.
"Quicker payments for us, happier clients and some referrals to prospects"
With this partnership, LilyIris Accounting join thousands of companies using Crezco to get securely paid on time with no fee. Card payments and manual bank transfers are not the only options anymore.
Next steps
LilyIris will continue to serve their customers by helping them with quality advices but also by helping them to set up software that will make their businesses even more efficient.
"Looking ahead to MTD ITSA and installing Xero software into more businesses and various apps alongside it to make our customers' lives more efficient."
