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The Benefits of Using Integrated Payments for Your HVAC Business

December 1, 2017
Loc8 Insights The Benefits of Using Integrated Payments for Your HVAC Business

Unless we move to a planet where climate conditions exhibit ideal living temperatures everywhere, the problem of heating and cooling our ambient temperature will remain a perennial one.

Some places exhibit extreme cold climates for which indoor heating is a must while others have a hot and sticky climate that begs for the relief provided by oh-so-sweet air conditioning. That’s why the heating, ventilation and air-conditioning (HVAC) service industry will always remain a lucrative one.

And like any lucrative business, it is important to keep a careful track of your cash flow. That’s where integrated payments play an important role.

Manual methods of payments have become obsolete. Nowadays, HVAC companies require integrated payment systems that streamline payment operations while allowing the company to easily track the same transactions. Integrated payment systems are closely knitted with a field service software application. For example, if an engineer or mechanic visits a client, the engineer or mechanic prepares the invoice and initiates the payment through the integrated system. The payment is made by the client and is then uploaded to the field service software application. The field service software application then makes the payment visible to the concerned authorities who control the business. The engineer or mechanic who visits the client will have a digital device which would record the payment made by the client. The client can then make a payment through credit and debit cards, digital payment methods, or cash. The engineer or mechanic has to simply record the payment on the digital device along with the client’s signature.

One of the biggest advantages of using integrated payments is the elimination of human error. When making manual data entries, there’s a huge chance of either an incorrect amount getting entered or a transaction being made to the wrong account. Now your accountant is forced to spend time searching for the incorrect entry. Not only is this a waste of your companies time, but it could cause delays in invoice generation, which is a waste of your customer’s time. Using an integrated payment system creates a seamless flow of data that requires minimal human intervention.

By using an integrated payment system, you can reduce operating costs drastically. You’ll first save on the cost of having an accountant or similar employee whose responsibility it is to enter data from card transactions and bills. It also helps save costs of training an employee to process the payments, and frees up their time for other tasks.

Besides providing an increased level of security, integrated payment solutions boost customer satisfaction levels by providing a more seamless payment experience. Furthermore, by tracking previous jobs, registering potential leads, and maintaining customer interactions, you can perfect a marketing technique that provides precise engagement and targeted promotions.

Client feedback is another aspect that the field service software application takes care of. Some field service applications have integrated customer relationship management (CRM) tools that log customer feedback and make it accessible to technician teams. By using this information in a constructive manner, you can ensure better customer service, increased customer retention and increased lead generation through customer references.

So if it’s time to get your accounts in line, choose a smart integrated payment system and watch as your business’s balance sheets slowly go from red to black.

Loc8 Field Service Software
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