Intelligence pays. Two small words with immense importance for customers and the organizations that serve them. What is meant by intelligence and how does it pay for everyday consumers and organizations alike? Let’s dig in to explore why intelligence that pays is at the center of all Paymentus does.
The Three Complementary Aspects of Intelligence
Technology grabs headlines, but the everpresent professionals behind the technology introduce us to what is possible, and then make it happen. For example, AI has quickly become an invaluable tool for so many business processes, but its full potential is only realized when put in the hands of those who can successfully harness and direct it.
For this reason, “Intelligence that pays” refers to technology, data, and professional expertise. It is the ultimate pairing of human and machine, teacher and technology, innovator and innovation. The amount of information that can be unlocked within a single transaction or interaction is both incredible and invaluable—if your platform is geared to generate and collect such information.
This requires technology, data, and expertise to be delivered in equal parts, each working in harmony to maximize the power.
Why Intelligence is Crucial for Billing, Payments, and Engagement
The billing cycle is the most consistent customer touchpoint, and a rich resource of insights to improve service delivery and business performance, and inform every subsequent customer interaction.
In an era of rising costs, finding efficiencies and delivering outsized customer service becomes essential. Intelligence is the only way to bring these to life in a way that benefits your organization and its customers. After all, how can you track performance? How can you unearth actionable insights? How can you quickly implement new offerings to fill gaps or meet needs?
Intelligence as Data & Analytics
Many of us are fans of TV crime dramas, which is why data is the first thing that comes to our mind when we think of intelligence. Different points that come together to create a clear picture of the crime that was committed and who committed it. Criminality aside, this is very similar to the world of billing and payments, where each transaction or interaction produces a world of actionable insights.
Data and analytics can come in the form of payment methods, payment channels, amounts owed, typical payment date, AutoPay usage, etc. Each reveals information about the customer and their preferences, as well as the performance of your system as a whole.
By gathering these thousands upon thousands of data points, you can then create strategies to best meet customers where they are, identify opportunities, or personalize engagement. You see what’s working, what could be working better, and what customers will react to. In this way, your database becomes one of the most important assets within your organization.
Intelligence as Technology
There’s a reason that technology grabs so many headlines: it’s the meat and potatoes of our world. Tools such as AI are redefining everything from reporting and reconciliation to self-serve payment methods such as chatbots.
Technology enables integrations with seemingly disparate systems, which help your organization build optimal solutions for customer management and billing and payments. In fact, Paymentus offers integrations with 450+ core systems so that our clients can operate in a manner that works best for them.
Technology is also essential in ensuring migrations and deployments are simple, speedy, and seamless. Products can be launched quickly and without gateways. Your platform remains a tight-knit solution, even as it expands.
Intelligence as Experience
Intelligence also comes in the form of practical, real world experience. Billing and payments may have been around since the beginning of time (assumedly…I’m not that old!), but our current world of billing and payments is unlike any other. AI, digitalization, hyperpersonalization, increased speed and expectations—there’s never been a more dynamic time period in our industry. This is where decades of experience becomes one of the greatest assets Paymentus can offer its clients.
Experience comes in many forms, thanks largely to the fact that billing, payments, and engagement is our sole focus. There’s technical expertise, integration and migration expertise, and then there’s the expertise that comes from working with all organizations that present bills.
We have found that the challenges and opportunities facing our clients are universal. While not everything is one-to-one, the key learnings inform everything we do. In this way, we can proactively apply the lessons learned in working with one industry to another that may seem wholly unrelated.
Want to see how intelligence can pay for your organization? Let’s talk! Contact us to speak to a billing, payments, and engagement expert who can share an exclusive demo of our full solution.
