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Any business or organization with recurring membership dues faces challenges such as:
- Payment processing costs
- Contacting members when a card is declined
- Chargebacks (when a member refuses to pay and requests their bank or credit card company to stop payment)
- Overdue accounts
The list goes on. How does a small business maintain a good relationship with their members and focus on what’s important – the activities the member is paying for?
Maintaining a Distance
If you are a small business with a recurring membership dues model, then you are probably dealing with individuals who live in your community. You see them at the grocery store, at the elementary school or at high school ball games. Those encounters are uncomfortable if you just had a difficult phone call with them about an overdue amount on their contract.
Keeping a distance from the accounts receivable side of the business increases your ability to build relationships with your recurring membership customers. Using a full-service billing company, like Affiliated Acceptance Corporation (AAC), allows you to maintain a healthier relationship with your members. By letting AAC focus on the (sometimes) ugly business of keeping your recurring membership payments current, you gain more time and energy to spend nurturing positive growth in your business.
What Should You Look For?
When looking for a full-service billing company, consider what is important to you and managing your financial health.
Does the company offer:
- Full-time customer service representation?
- A call-center for customer concerns?
- Online access to your payments received, payments outstanding and member data?
- Reporting that helps you gain business intelligence and insight?
- Personal account support for your questions and concerns?
- Assistance and training for software?
- Rates that are competitive or better than the competition?
- Options for members to pay online and view their membership details?
When looking for a full-service billing company, it’s important to have flexibility to do business your way.
Questions to ask include:
- Do you enforce my business rules or do you have a standardized set of rules you follow?
- Do you allow me to define my contract standards per my state rules?
- Do you pursue overdue accounts to the state statute limit?
- Do you work to prevent my members from going into a bad debt situation by pro-actively contacting them when they are late, and assisting them in bringing their account current?
These questions, among others, can help you to learn more about a billing company and how they handle your members.
Don’t let managing recurring membership payments cause you to lose sleep. Use a payment processor that provides full-service billing support. Back office support managing your memberships enables you to focus on your members, their needs, and building a great organization or business.
Affiliated Acceptance Corporation is a full-service billing and payment processing company. We thrive on client referrals. Learn more about our clients or call us at 800-233-8483 (ask for sales) for more details.
All materials have been prepared for general information purposes only to permit you to learn more about Affiliated Acceptance Corporation and the services we provide. The information presented is not legal advice, is not to be acted on as such, may not be current and is subject to change without notice.