Hit Your Shop's 2019 Goals With ServiceTitan Payments

adminNovember 30th, 2018

What can our suite of powerful payment tools do for your home service business?

How long does your home service business spend every week on reconciliation tasks? Dealing with redundant tasks for deposits? Waiting for transactions to be processed? An efficient circulation of money is essential for any business—but is particularly difficult to establish and maintain in the home services industry, where payments are collected remotely from various sources, or are received days, even weeks after service has been rendered.

At ServiceTitan, we’ve always understood these pain points for contractors and in 2017, we launched a product designed to alleviate them. ServiceTitan Payments is a package of tools that seamlessly integrates into your ServiceTitan platform to streamline cash flow from an initial purchase, all the way to bank deposit.

Turn Every Porch In to a Point of Sale

Forget collecting paper checks or manually recording credit card information. Homeowners today are ready for quicker, more secure ways to pay home service professionals. With ServiceTitan Payments, your techs can finally provide them.

ServiceTitan Payments allows techs to capture credit card and check payments either using a credit card swiper or by using your tablet’s camera function. There’s no need to switch back and forth to a third-party app or call into the office to process the payment. Because the process is secure and tablet-enabled, you don’t have to worry about illegible or lost receipts, either.

Reconcile Payments in a Flash

The process of payment reconciliation is notoriously tedious and time-consuming—but it no longer has to be. With ServiceTitan Payments, payment reconciliation is clear and automated. Autobatching means similar payment transactions are grouped together so that you can stop manual cross-referencing, saving your bookkeeper time again and again and again.

What can your team do with all that freed up time (especially during the busy season)? If your shop is anything like other customers who have had success with ServiceTitan Payments, you can invest in higher-level tasks like customer service or marketing—the kinds of activities that have a tangible effect on a business’ success.

Cut Down Accounts Receivable Time

Depending the nature of a job or the homeowner’s preference, your tech may not be in a position to capture payment on the spot. This is often in the case when the customer is a renter: you provide the service to them but, ultimately, the landlord sends the check. Traditionally, that means invoicing a customer via email, or worse, sending them one via snail mail—and then waiting for them to mail you a check. In all that time waiting, your shop isn’t getting paid, which can be hard on shops of all sizes.

With ServiceTitan Payments there’s a convenient, modern way to jumpstart your accounts receivable turnaround time. Instead of sending a paper invoice to your customer, you can give them access to an online payment portal. The customer enters their card information and the payment is completed in seconds, and immediately applied to the corresponding invoice. No paper. No stamps. No waiting around to get paid.

Traditionally, the accounts receivable process takes 2-3 days. With ServiceTitan Payments, that average turnaround time is cut down to just half a day.

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