Franchise Billing Software: What You Need To Know

If you dream of owning a business, franchises present a great opportunity. You enjoy the support of a nationally-recognized brand while still reaping the benefits of being your own boss. Keeping things running smoothly is imperative if you want to stay on top. Franchise billing software can help you process customer payments in a way that is both flexible and efficient.

While large franchises often have their own built-in software, small franchises usually have more independence in this area. When looking for the right franchise management portal to accept and process payments, it’s important to find a system that will allow you to manage cash flow, simplify your administrative tasks, and get more done in the day. Here’s what to look for.

Look For These Franchise Billing Software Features

When you’re managing a franchise—whether one location or multiple—you need to save time and money, all while offering convenience to your customers and team.

The right franchise billing software will allow you to easily handle payment acceptance, billing, and financial tracking. Plus, you should be able to manage all of these features and your multiple locations in a single platform. Let’s look at these features in more detail.

Flexible payment options

The truth is cash isn’t king anymore.

Customers want to rack up points with credit cards or conveniently set up a direct ACH debit from their bank account. Make it easier for customers to pay by accepting credit card, ACH, and eCheck payments across all of your locations. With these multiple methods of franchise payments, you can offer payments online, over the phone, in person, and through mobile devices.

Do you have customers with monthly dues that never change? Give them the ability to set it and forget it. For example, Amazing Athletes is a franchise that introduces children to sports in a fun and encouraging setting. Using PaySimple’s recurring payment functionality, Amazing Athletes location owners can collect most of their revenue at the beginning of the month with little to no effort. They save time and resources by not having to track down payments or send reminders. Plus, there is a steady stream of revenue they can count on. Learn more in our case study on this franchise.

Financial tracking

Tracking your finances is one of the best ways to ensure the ongoing financial health of your franchise system.

Revenue reporting allows for analysis of each of your locations from a 360-degree view. Access to the real-time revenue being generated across your multiple locations or teams can help with performance forecasting and planning. Direct insights into individual location performance can also simplify the royalty collection process.

With financial tracking, you’ll feel confident making decisions that affect your business because you are better informed every step of the way.

Management for multiple locations

Do you own multiple locations of your franchise? Look for a tool with the functionality and quality of customer support required for multi-location cash flow management.

Further, the cost of franchise billing software tools that combine your locations into one system can offset the time and money you’d spend juggling several different programs. The best providers even offer multi-location businesses lower pricing and processing rates. Depending on the amount of locations you manage and operating costs, the opportunity to establish these competitive rates can be a huge benefit.

Integration with other accounting tools

Whether you’re operating a single franchise or multiple locations, you’ll probably need a few systems in play for your day-to-day business management. The best franchise billing software tools offer integrations into these other core technologies to save time and create efficiencies.

With PaySimple, for example, you can seamlessly integrate our billing software with Quickbooks. Connecting to accounting, marketing, and other critical business tools are also seamlessly done with PaySimple’s open API.

Premium customer service

When you’re managing the day-to-day tasks of franchise management, it helps to have support in your corner. Find a franchise billing software that prioritizes customer care and has a dedicated support team to help with any questions that come up.

Don’t let questions and troubleshooting take valuable time away from your business. Look for a team who will be there to support your organization when it matters most.

Franchise Payments And The PaySimple Advantage

When you choose PaySimple g, you’ll find the tools you need to grow your business. Our franchise billing software is the go-to for franchises across the U.S. We offer competitive pricing and rates that are set up specifically for single or multiple location franchise systems.

At PaySimple, our goal is to help you maintain and expand your business though strong financial features and reporting. Our longstanding reputation with business franchises across the country demonstrates this. Just take a look at Carefree Boat Club, a franchise that allows their members full access to a fleet of boats for a monthly fee. With the help of PaySimple, their franchise owners saw a 28% increase in revenue in their southwest Florida locations.

They don’t just use PaySimple to collect monthly recurring membership dues. PaySimple’s online payment forms made it easier to collect initial payment information from new members. And, our mobile app allows them to collect different payment types right on the dock. Today, more than 20 Carefree Boat Club locations use PaySimple for their billing needs.