If the pandemic taught the veterinary industry anything, it’s that practices had to quickly adjust to changing social norms, including how to safely accept payments. Time saving and productive payment practices are a must to meet changing client behaviors and evolving payment methods.
The best payment acceptance solutions for both in-person and remote servicing allow you to take payments anywhere, reduce bottlenecks at checkout, save time for your front desk staff, and get paid faster.
Below we cover four best practices to help you streamline operations and back-office tasks by using a secure, cloud-connected solution.
4 Ways to Save Time and Boost Payment Productivity
- Go Digital
Paper processes are time consuming, inefficient and wasteful. While many vet clinics have upgraded to cloud-based practice management systems, they still rely on old payment systems that support paper receipts and batch reports.
Instead of filing away every paper receipt, you can streamline and improve your veterinary business management by going paperless. Pairing a Virtual Terminal with a Smart Terminal completely eliminates the need to store paper receipts in your front office, so you can say goodbye to managing and filing paper receipt copies for good.
Using a cloud-based payment system means everything is digital. Work orders and invoices are linked with customer payment details and securely stored in the cloud, eliminating the need to manually print, store and retrieve paper records. Instead of digging through a filing cabinet for a past transaction, you can search for a receipt with a few clicks by using a client’s name, transaction date or even a pet’s name.
- Streamline End-of-Day and Bank Reconciliation
The time spent consolidating sales receipts, printing batch reports, preparing deposits, and reconciling credit card activity with your Veterinary Management software, bank deposits, and processing statements adds up.
With the right Virtual Terminal, your batch-out process can be simplified and, if you prefer, automated. Instead of printing and collecting long batch receipts at the end of each day, batch reports are automatically created and logged in your Virtual Terminal. Even better, since all payments captured in-person or remotely are consolidated in one management console, your office can simplify end-of-day procedures, reconciliation and reporting across departments and locations.
And when it comes to bank account reconciliation, you’ll know immediately if your deposit reports match bank records. You don’t have to wait until the end of the month to receive processing and bank statements in the mail to line up the batch and deposit totals. PayJunction enables you to accomplish your accounting goals with real-time visibility.
- Gain Business Insights
Getting insight into your practice’s performance over time can require hours of preparation. Even understanding it on a day-to-day basis requires manual work, which eats up precious time for office management.
Proactively analyzing financial data to gain insights into customer trends and performance metrics across departments and locations helps veterinary practitioners make better-informed decisions. PayJunction's built-in reporting software tallies your sales data for you, providing you with meaningful financial reports that empower your business.
A Virtual Terminal that produces custom reports showcasing the practice’s performance is an essential tool for measuring success and planning for the future. You’re able to analyze results by day, week, month or year; reports can be broken down by account for multi-location practices or larger practices with various departments such as internal medicine, critical care, diagnostic imaging, and boarding and day care services.
These reports give you greater insight into which customers, locations and departments produce the most revenue. Use year-over-year reports to compare the current and previous year’s performance and to implement strategies, services and promotions to drive value in slower seasons.
- Manage From Anywhere
Running a veterinary practice is hectic. On top of various animals coming and going within the office, you have to manage day-to-day tasks, confirm patient check-in and checkout, maintain patient records, hire and train staff, and, of course, oversee payments. Work days don’t always end when they should, but that doesn’t mean you have to remain in the office to check in and perform tasks.
A cloud-connected solution allows you to log in and manage payments from any browser-connected device. You can track each payment from checkout, to research, to reconciliation. Add or remove users and check on performance at any location, any time, from anywhere. The ability to manage a multi-location practice through one single platform simplifies bookkeeping.
Additionally, not everyone in the clinic should have access to the same technology. Under the lens of audit and compliance, it’s increasingly important to grant system access, user rights and roles to lower the chances of risk or fraud.
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Opting for a smart, reliable payment solution delivers a better customer experience, improves operations and scales to meet your needs.
Improve Your Vet Practice’s Payment Productivity.
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