Xero App Series: ezyCollect

Welcome to the seventh instalment of our Xero App Series, covering some of the best and most popular Xero add-ons that may assist in your business.

Over the last three months, we’ve explored Spotlight Reporting, Receipt Bank, CloudPayroll, Deputy, Vend and Hubspot. In case you’ve missed them, here’s our quick introduction about why we’re running this series.

In this blog series, we wanted to draw your attention not to Xero’s core features but to the 800+ add-on apps that feature in Xero’s App Marketplace of approved third-party software providers and products. This ecosystem of added functionality is part of Xero’s winning edge over other accounting systems, bringing a world of additional possibility, insight and power to your business. 

Over the coming months, we’re going to look at a different Xero app each month and explore the significant added value it brings. These apps are in use all over the world and are some of the most popular currently available in the App Marketplace.

We would be very happy to assist you with any further questions, especially if you are interested in a trial implementation at your business!

This month, we’re on to…

ezyCollect

ezyCollect is a receivables management tool that helps to accelerate payments through automated email, SMS or phone call reminders, as well as enabling online payments, automated ‘thank you’ emails, credit risk insights and debt escalation tools.

Category: Payments and Debtor Tracking

Rating: 5 stars on Xero

Founding details:

ezyCollect is an Australian company that was founded in 2014 by AJ Singh, who worked in medical supply distribution, and Raj Kuckreja, a Chartered Accountant. The duo were experiencing cash flow problems arising from late payments, so they developed their ‘ultimate wish list’ for a tech product that would solve this pain point. Next, they onboarded their third founder, Jimmy Cooper, and went from there to develop ezyCollect.

Scenario:

Are late payments and inefficient follow-up processes becoming a barrier to business growth for you? Are you sick of manually chasing up debtors and/or risking your relationships with them each time? ezyCollect can automate this process, saving you hours of effort and helping to ensure your cash flow position remains as healthy as possible.

About:

ezyCollect is an accounts receivable product that integrates with Xero to run all your credit management and accounts receivable tasks through the one hub. Its user-friendly dashboard allows you to view the big picture or zero in on the finer details of an individual customer’s account and history, with daily insights on customers’ credit risk levels and detailed customer reports. 

Through ezyCollect, you can set up personalised automated reminder sequences, with templates provided for email, phone call, SMS and mail follow-ups. You can also add ‘pay now’ buttons, where customers can easily pay by credit card directly from their invoices. Customers also have the option to select ‘pay later,’ where they set up a plan to pay in instalments, while you get paid straight away through ezyCollect. 

Or better yet, prior to engaging with a new customer, ezyCollect can provide you with their late payment risk to help you make more informed decisions when engaging with new customers.

Additionally, if bills continue to go unpaid,  ezyCollect provides access to demand letters, debt collection services and credit monitoring. And if you’re in need of a cash flow boost, you can access an unsecured line of credit through ezyCollect. 

Ultimately, ezyCollect takes care of routine processes and helps the accounts receivable team (or you, as a small business owner) get things done more efficiently, bringing more cash into the business in a timely manner.

Integration with Xero:

When integrated with your Xero account, ezyCollect will give you the following functionality:

• View daily ratings of every debtor to assess their low-to-severe credit risk to your business.
• The ability to use and optimise 7 reminder templates to include your brand, language, email address, ‘Pay Now’ button and customer account information.
• Send a ‘thank you for payment’ message.
• Preview and approve daily automated communications.
• Prioritise who to phone with a daily call list sent to you.
• Add a ‘Pay Now’ button to invoices and emails so customers can pay immediately online.
• Add a ‘Pay Later’ option so customers pay in instalments while you get paid straight away.
• Order a demand letter, debt collection service or detailed credit report.

To learn more about ezyCollect, visit the Xero App Marketplace or ezyCollect’s website.

Feel free to contact us if you would like to learn more about integrating ezyCollect with your Xero account.