BigTime Software has added a payments engine to its PSA solution. Its BigTime Wallet is available to both Pro and Premier users. The solution enables online payments between professional services firms and their clients. The solution appears to be simple to set up and includes an integration to QuickBooks.
When creating an invoice, users can choose to enable online payments by ACH, or by credit card or both. When the invoice is sent to the client, they can click on a link to make the payment. Alternatively, it is possible to generate a link which can be sent to the client. When the client clicks on the link, they can submit the payments using a secure, PCI compliant portal. They can access the invoice and see any outstanding amount. They can then choose their payment type, the amount to pay and submit the payment.
Jake Matyas, COO of BigTime Software, commented: “We’re all about ease of use and giving you more billable time back in your day. Accepting payments through BigTime Wallet means receiving cash faster, and no longer dealing with the hassle of switching between invoicing and payments software.”
Flexible solution to a point
The system allows administrators to set up templates for payments. It allows them to select a colour palette and include a logo on the payments screen. The configuration setting also allows an administrator to decide which default payment options to make available for every invoice created.
There are some questions. The press release infers that BigTime Wallet integrates to the accounting package that the professional services firm uses, what are these? The screenshots available infer that only QuickBooks is currently supported.
Which payments vendor is BigTime partnering with? As part of the setup, the administrator has to agree to the merchant terms for the credit card payment. It is not clear who these terms are with, nor what any fees are.
Where is the credit card and banking data held? BigTime Software is almost certainly using a third-party for these payments. This would mean that the credit card and banking data is never held within BigTime software, or is even available to the professional services firm. It is unusual not to declare who the payments partner is.
The solution also provides two main reports for BigTime Payments. A deposit report which displays all payments made within a selected date range. It also provides a fee statement displaying the number of transactions, the total amount received and the fees incurred. Users can customise these reports to a limited extent, mainly selecting which fields to display.
Enterprise Times: What does this mean
BigTime Wallet should help to increase the cash flow of its customers. Historically, firms would have had to raise the payment link from within their accounting solution. In bringing the feature into BigTime Software PSA, it simplifies and speeds up the process.
As one BigTime user, Rebecca Cayen, Operations Manager at Coastal Geologic Services commented: “Creating invoices and adding a link for payment directly in BigTime has made our accounting process much easier and more refined. We’ve been able to cut out several steps and speed up the time it takes to send an invoice and request payment, giving me the flexibility to focus on other work.”
Brian Saunders, founder and CEO of BigTime Software added: “We know that one of the keys to a successful client relationship is creating a personalized-branded experience for the client, all the way through their collection process. By adding a payment feature to our product, we are enabling our clients to collect payments through a secured platform that reflects the professionalism they exhibit in every other customer interaction.”