ECAL ‘Payment Reminders’ to Calendar!
ECAL, the world’s leading calendar marketing platform, has extended its enterprise product for the ‘payments’ space, to set about solving serious issues affecting business today.
Right now there is a widening cash flow gap, which is negatively impacting small and large businesses alike, and their ability to make ends meet. In fact, a 2017 study reported that “62 percent of businesses would not survive more than three months if all invoices went unpaid”. Further, “at least half say being paid on time would reduce stress, avoid unnecessary debt and drive business growth”.
To address this issue, ECAL has launched a payment reminders service direct to calendar, designed to help customers better manage their payments, so business is paid on time.
In a recent trial project with National Australia Bank, banking customers received personalised ‘payment reminders’ for their specific credit card account, to see how calendar reminders performed against traditional SMS reminders in helping customers pay on-time.
The limited trial proved that calendar reminders by ECAL were the most effective communications method for customers, with ‘on-time’ payments increasing by 12%. This included a 37% ‘spike’ in payments made when an advanced reminder was served to calendar.
Whilst the report suggests that “reminder apps” will help with this growing problem, ECAL’s ‘calendar reminders’ technology appears to provide a much more sophisticated and effective billing reminder solution, as it is totally personalised to the user, and integrates directly with their native calendar!
The calendar entries include handy alerts (at the right time), specific amount due, and a direct link to ‘Pay Now’, amongst other features to inform and assist customers.
ECAL CEO, Patrick Barrett says “as a team we’re excited to uncover new and valuable use cases for our advanced calendar communications technology. As a business, we’re committed to helping solve real problems, with highly valuable, tangible benefits. With over 70% of adults relying on their digital calendar to manage life, and with the cost of collections and support such a major burden on business, we feel ECAL delivers a better performing and ultimately more cost effective solution for payment-related communications.”
If you would like to know more about ECAL’s billing reminder software, please contact us.