Cash Flow Management

You send off deals and wait for them to be funded. You send out statements and wait for payments to come back. With so much cash up in the air, it’s time to take control.

What if you could...

  • Receive payments from customers when you send their statement, rather than waiting on cheques to come in?
  • Save hours each day with digital payments and reconciliation?
  • Increase reliability in your accounting journals with real-time data?
  • Decrease the chance of theft, cheque fraud, and other security risks store wide?

Here’s How

ReyPAY®

Someone typing the wrong payment amount into your point of sale terminal means you spend the end of your day trying to reconcile and find the mistake. Then someone has to contact the customer and refund them or charge them again.

ReyPAY uses the payment amount from the DMS to process an accurate payment, whether the customer is in the store or online. It’s EMV compliant, uses point-to-point encryption to ensure data is kept secure, and helps reduce transposition errors caused by manual data entry. 

  • Integrated payment processing for the entire dealership allows for a system-wide improvement in efficiency and reduces errors caused by manually submitting payment information.
  • Improve customer satisfaction by sending them digital invoice and payment options through email or text.
  • Protect your transactions from fraud attempts with EMV-compliant payment terminals and point-to-point encryption.
  • Worldpay’s IQ reporting portal allows you to save time reconciling statements by providing access to your entire store from a single, online location.

ReyPAY Bad Process Video

The dealer is sitting at his desk talking on the phone.

“No, we’re fine. We’re fine. Okay. Bye. Hey Pam?” He stops the office manager as she passes by his office and asks her to come in.

“Yeah?”

“Can you come in here? I was just talking with the rep. We’re not having any issues with our daily reconciliation, are we?”

“Any? I don’t know. The same as what we’ve always had.”

“Always?”

A flashback to last week begins and we see customers picking up their vehicles from the service department.

“Well, last week a customer came in to pick up his car after his oil change and Tonya cashes him out and then he’s on his way.”

Back in his office, the dealer is confused.

“Sounds okay so far.”

The flashback starts again. We see Pam, the office manager, checking a printed receipt with a report on her computer screen. The phone in Ed’s office rings but there is no one there. Pam walks over to Ed’s office but he isn’t there. After lunch, Pam calls him again and goes back over there. Ed is sitting with a service advisor and he isn’t sure why the dealership is over $54.

“Well the next morning, I get all the receipts. I double-check everything in the system and it isn’t matching up. I can’t figure why we were over $54. So I called Ed in service but he didn’t answer. So I walked over there but his office was closed. So I called him again after lunch and he still didn’t answer. So I had to walk all the way over there again. I asked Ed about the $54 and he wasn’t sure either. So I made a note to come back to it later so I could focus on getting payroll done.”

Back in the present, Pam sits down at the dealers desk to get to the juicy part of the story. “Okay.”

In the flashback, we see Tonya accidently charge a customer $82 instead of $28.

“I haven’t even gotten to the good part yet. So just before five, Ed comes in to my office. He says he’s got an angry customer who was overcharged on their oil change. Guess how much they were overcharged? $54!”

Ed is in Pam’s office.

“We charged a customer $82 for an oil change?”

The dealer is even more confused now.

“Yeah. Tonya, bless her heart, she accidently typed in $82 instead of $28.”

We see Tonya punching in the incorrect amount to charge the customer.

“What about the customer?”

“Well, we had to issue a complete refund. I mean, I can’t go back and charge them $28 now, right?”

Pam is adjusting the payment amount in the system so everything balances.

Back in the dealer’s office, he is flabbergasted.

“And that’s the normal process?”

“Yeah but sometimes we catch it before the customer does so I mean, that’s good, right?”

Accounting Electronic Communications

Once a month, you print your receivable statements, stuff them in envelopes, pay for postage, and then wait. The invoice says net 30 on it, but you really have no idea when the cheques will come back. Your cash flow is out of your control.

Accounting Electronic Communications provides the ability to send receivable statements via email and capture electronic payments immediately with ReyPAY.

  • Send A/R statements, cash receipts, EFT remittance, and other items electronically through email instead of physically in the mail.
  • Maintain your brand image and professionalism with customizable email templates.
  • Easily track payments and reconcile any issues with an electronic audit trail.
  • View all documents electronically and accept online payments when paired with Integrated Document Management and ReyPay.
Woman working at a computer in dealership using accounting electronic communications

What can you experience:

“ReyPAY has helped alleviate the stress and pressure that comes with the daily five pm rush; whether it’s on the customer, parts counter, or service writer.”

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What’s next

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Support: 1.800.661.8600