Simplify Billing Cycles and Cash Flow Management with Milk Delivery Software

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Managing recurring billing cycles is tedious if
you do not have relevant tools, which can lead to
mismatches and unnoticed cash leakage. Milk
delivery software is an online platform that can
help you manage and track your payments. This
presentation discusses all the aspects of milk
delivery software, specifically how it can
simplify billing cycles and help you manage cash
flow.
WHAT IS MILK DELIVERY SOFTWARE?
Milk delivery software is an integrated solution
for your dairy delivery business that provides
features and functionality to manage your
business operations, including order processing,
payment management, stock counting and leveling,
customer relationship management, delivery
planning, route optimization, and report
generation and analytics. The components of this
milk round software are the admin panel, the
customer app, and the driver app.
PAYMENT MANAGEMENT MECHANISM IN MILK DELIVERY
SOFTWARE
The payment management in delivery software works
through the admin panel, the customer app, and
the driver app. The software offers prepaid and
postpaid payment models. You can choose either of
them or both. PREPAID For the prepaid payment
model, the system offers in-app wallets.
Customers can recharge their wallets using
integrated payment gateways. With every
successful delivery, money is automatically
deducted for subscription orders. If the wallet
balance is insufficient or zero, deliveries are
automatically paused and resumed once the wallet
is recharged. POSTPAID The system works on a
billing cycle model for the postpaid payment
model. The invoices are generated daily, weekly,
or monthly. As a business owner, you can choose
to define your billing cycle. The invoices are
sent to the customers via SMS, email, and
WhatsApp. Invoices contain payment links,
allowing customers to pay directly from the
payment link.
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HYBRID In a hybrid payment system, some of your
customers are prepaid and others are postpaid. In
this case, you define a credit limit for your
postpaid customers once the limit is over,
deliveries are auto-paused until the customers
pay their invoices. Once the customers make their
payments, the deliveries are automatically
resumed. For prepaid customers, when the wallet
balance is insufficient, the deliveries are
auto-paused and resumed when the payment is
made. PAYMENT MANAGEMENT MECHANISM FOR THE
PREPAID PAYMENT MODEL Step 1 Customers recharge
their in-app wallets. The money gets transferred
to the owners account and the wallet balance
shown in the app is the virtual money. Step 2
The customer places an order from the self-serve
application. Step 3 The driver delivers the
order on the customers doorstep. When the driver
marks the delivery as delivered, the amount is
deducted from the wallet. FOR THE POSTPAID
PAYMENT MODEL Step 1 The customer places a
subscription order. Step 2 The invoice is
generated every week or month based on your
defined preference. Step 3 The invoice is sent
to the customer via email, SMS, or WhatsApp. Step
4 Customers can pay online or in cash. The cash
is handed to the delivery drivers. Step 5 The
drivers record the amount or the transaction ID.
This transaction is verified with an OTP from the
customers registered mobile number.
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WHAT IS A BILLING CYCLE?
The billing cycle is the period from the end of
one billing statement date to the next for the
services or goods a company provides to customers
on a recurring basis. The billing cycles are
generally set monthly however, they can vary
depending on the nature of the business.
HOW DOES MILK DELIVERY SOFTWARE HELP YOU SIMPLIFY
THE BILLING CYCLE?
This delivery software offers certain features
that can help you simplify the billing cycle and
improve billing accuracy. The features of milk
delivery software that can help you simplify the
billing cycle are INVOICE GENERATION The
delivery software for milk enables you to define
your billing cycle and generate invoices
accordingly. It generates invoices daily, weekly,
and monthly. These invoices are automatically
generated based on the number of successful
deliveries made. The software can also generate
the current months invoice. For instance, if
your customer wants the billing on any date of a
month other than the billing date, you can
generate it and share it with the
customers. INVOICE DISTRIBUTION You can send the
invoices to your customers online via emails,
SMS, and WhatsApp. The invoices generated have
payment links through which the customers can
make payments.
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B2B INVOICE GENERATION You might have
business-to-business customers for whom you want
to generate taxable invoices. The system allows
you to enter your business clients commercial
numbers (GST numbers) to generate tax-inclusive
invoices. PREPAID AND POSTPAID INVOICE The
system provides a prepaid and postpaid invoicing
model. You can choose either of them or both.
Implementing a prepaid invoicing model is one of
the major challenges to maintaining positive cash
flow. The system offers an in-app wallet,
allowing your customers to make advance payments
for subscriptions or one-time orders. For such
orders, the invoices are generated daily as the
amount for the order is deducted from the
invoices.
WHAT IS CASH FLOW MANAGEMENT?
Cash flow management is managing and tracking
cash coming in and going out of the business,
enabling you to analyze and forecast cash flow
needs. Cash flow is monitored, analyzed, and
optimized as the daily net cash received minus
expenses.
HOW DOES MILK DELIVERY SOFTWARE HELP YOU MANAGE
YOUR CASH FLOW?
Milk delivery software integrates payment
management, enabling you to manage recurring
billing, payments, and cash flow. The features of
this software that can help you manage your cash
flow are TRANSACTION REPORTS The software
generates transaction reports, enabling you to
track amounts received from customers. These
reports help you reconcile the payments received
and the actual calculated payment to be received.
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PENDING PAYMENT REPORTS This delivery software
auto-generates the pending payment reports, which
include the list of customers who have not paid
their bills. These reports can help you identify
customers behind their bills and ask them to make
payments. You can send them pending payment
reminder notifications for prompt payments. LOW
IN-APP WALLET BALANCE REMINDER You can send your
customers low in-app wallet balance reminders to
recharge their wallets before the balance goes to
zero and the deliveries are stopped. The prepaid
payment model allows you to manage cash flow and
keep it positive. PROOF OF PAYMENT This feature
is helpful for customers making their payments to
the drivers. Suppose the driver collects cash
from the customer. In that case, the driver needs
to record the amount collected and the customer
needs to verify the payment via OTP sent to the
registered mobile number. On the contrary, if the
driver collects money online, he should record
the transaction ID, and customers need to verify
the payment via an OTP. AUTO-DEDUCTION The
software allows customers to add their debit or
credit card to the system, which automatically
debits the amount when bills are generated. The
auto-deduction feature of the system ensures
timely payments, maintaining positive cash flow.
BENEFITS OF IMPLEMENTING MILK DELIVERY SOFTWARE
TO MANAGE PAYMENTS
The milk delivery software offers various
functionalities, like invoice generation,
multiple payment options, transaction reports,
etc., that improve the accuracy and security of
the payments. The major benefits of implementing
the software are
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INCREASED EFFICIENCY The milk delivery management
software integrates payment management with other
delivery operations. Automation improves invoice
accuracy and minimizes reworks, increasing the
efficiency of payment management. Automation also
streamlines other business operations, like
ordering, stock management, route optimization,
and report generation. REDUCED COSTS Automating
invoice generation minimizes the chances of
manual errors and reduces rework costs. The
system makes payment reconciliation easy and more
accurate, reducing the need for reworks and its
costs. The system also improves the accuracy of
orders and other administrative work. Automation
also reduces the need for staff to manage the
operations, reducing the hiring costs. IMPROVED
CUSTOMER SATISFACTION Features like past
transaction accessibility, offering multiple
payment options to the customers, and pending
payment reminders improve the customer experience
and satisfaction rates. Offering a self-service
platform to manage and track their transactions
fosters transparency, improving customer
satisfaction rates. MULTIPLE INTEGRATIONS The
system supports multiple payment gateway
integrations that allow you to offer your
customers preferred payment options. Most
companies use different software solutions to
manage their various business operations.
However, this software is an integrated solution
that integrates six modules that provide
end-to-end solutions for your business. These six
modules include order management, payment
management, stock management, delivery
management, customer management, and reporting
and analytics.
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CONCLUSION
Implementing delivery software with our milk
delivery app development services can help you
automate your entire business operations, from
order processing to successfully delivering the
order to the customers. The software can
streamline your payment collection process and
reconciliation, improving your positive cash flow
and adding to the revenue. Resource Link
https//www.milkdeliverysolutions.com/blog/simplif
y-billing-cycles-and-cash-flow-management-with-mil
k-delivery-software/
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Contact Us
www.milkdeliverysolutions.com
info_at_milkdeliverysolutions.com
111 Peter St Toronto, ON M5V 2H1 Canada
1(647)227-3695