Radio World Buyer’s Guide articles are intended to help readers understand why their colleagues chose particular products to solve various technical situations. This month’s articles focus on automation, traffic and billing.
Marketron says its PayNow platform consolidates the entire payments workflow from invoicing to funding. It integrates with the company’s traffic systems, “delivering a complete AR solution for broadcasters.”
Recently, two Marketron customers discussed the benefits of the platform, detailing its pre-payments, payment reminders and a collections tool.
Lotus Communications Regional Business Manager Danielle Spaulding shared that before PayNow, cash-in-advance buys and collections were manual tasks and inefficient. With the implementation of PayNow, she said these workflows are easier and require little time.
Marketron said Spaulding has given account executives access to the collections tool, making a significant difference in outstanding invoices.
It said adoption of these tools has enabled Lotus to reduce the number of days outstanding and increase their cash flow. Spaulding cited efficiency and a reduction in the amount of time to run through the aging and ask for payments.
Separately, Forever Media AE Melissa Kubik said she uses the payment reminder tool in PayNow. “I thought it would take more time out of my day working on collections rather than selling. To my surprise, it has had the opposite effect.”
Kubrik said she can quickly send out reminders, and that such nudges work. Payments come in quicker, and she estimated that for every five she sends, she gets three payments that same week.
