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Using Autopay to Manage Cash Flow

At FlexPoint we often talk about cash flow and tools for improving cashflow, but perhaps one of the most effective methods of managing cash flow for MSPs is to transition managed service clients onto autopay. Easier said than done, right? Well with FlexPoint, autopay doesn’t have to be awkward.

What is Autopay?

Autopay solves probably the biggest hurdle for MSPs to get paid - clients having to actually manually pay every month. A great use case for autopay are managed service contracts since managed services are monthly recurring in nature. Mechanically, this means an MSP needs to get their clients to actually provide a payment method that can be auto charged every month. To do this, an MSP needs to have a way of securely storing the payment method so that clients don’t need to continue to provide it every month. The benefits are obvious: once an MSP has a client on autopay, that limits the likelihood of non-payment, but just as importantly removes the need to chase a client for payment every month. How to get clients on autopay is often the biggest hurdle.

Clear and Early Communication is Important

Setting clear expectations from the outset is crucial when introducing autopay to new clients. MSPs should clearly communicate the benefits of autopay, emphasizing the convenience, reliability, and security it offers. By educating clients about autopay early on in the onboarding process and including it as part of their managed service contracts, MSPs can establish a mutual understanding and ensure a smoother adoption.

Overcoming Awkward Conversations with Existing Clients

While introducing autopay to new clients may be relatively straightforward, it can be more challenging to broach the subject with existing clients. Awkward conversations surrounding payment methods can strain client relationships, especially if a client has a long standing method of paying. However, adopting a software solution like FlexPoint can present an opportunity for MSPs to seamlessly transition existing clients to autopay without uncomfortable discussions.

The Power of FlexPoint

FlexPoint is payments software purpose built for MSPs. Because MSPs have recurring managed services, at FlexPoint we understand the importance of autopay. Adopting FlexPoint gives MSPs an opportunity to transition existing clients to autopay without having awkward conversations. At FlexPoint we provide template communications that MSPs can use to message a new payment solution and most importantly, encourage autopay. When clients log into the FlexPoint payment portal they are prompted to save a payment method on file and agree to autopay, making the process of setting up autopay easy and most importantly automated. Learn more about how FlexPoint can help you avoid awkward conversations with clients when setting up autopay by booking a meeting with the team.