Likelihood to Recommend Nvoicepay is super helpful for organizations that want to run lean and have a lot of accounts payable going out each day/week/month. The cost of having Nvoicepay vs having an employee process payments for each of our vendors is a massive cost savings. I believe it would be less appropriate for organizations that are only sending a few payments each month or have a lot of recurring payments instead of unique bills each month. Recurring payments are easily booked and memorized in most accounting systems and setting up autopay takes care of having to actually make the transaction manually.
Read full review If you are one person or managing 10, TermSync allows you to track what you and your team is working on. When to follow up with customers so that no one is missed. It allows you to see if each teammate is pulling their weight and getting done what needs to be done or if more help is needed. The Executive Metrics reports give you all the information for month end reporting and also shows you the weaknesses so you can motivate your team to excel in those areas.
Read full review Pros Nvoicepay does a great job of pulling the invoices in from our DMS system on a daily basis so we can see what invoices need to be paid. NVoicepay allows for many methods of payment. They call all of your vendors for you and set them up on their preferred payment methods. NVoicepay takes care of all issues for you with the vendor. They make all of the payments once you initiate it in their system. Read full review The dashboard makes it easy to organize my daily work and to track customer contacts. TermSync makes it easy for our customers to communicate with us at a time the best works with their schedule. I love the credit reference reports. This saves us all the time of printing, completing and faxing credit reference reports. Read full review Cons Perhaps the most frustrating part of Nvoicepay is the reporting. Simply working through the filtering to find a transaction in the history is extremely difficult. If you don't select the filters in the correct order you will typically find zero results. The formatting for the upload is also a little tricky. Since you are uploading an excel file, any zip codes with leading zeros typically have the zeros removed and result in a failed upload. So having to place an apostrophe in front of any leading zeros is kind of pain especially when you have 100 plus lines of transactions. The main dashboard is also something to be desired. I understand the concept of providing the dashboard, but what use is it if I can't dig in and see what the numbers and graphs are made of? If Nvoicepay was able to hyperlink to the transactions that make up each category it would make the dashboard far more useful. Read full review Reporting. It is hard for TermSync to create a report for every business type out there so you may need to have some things customized, but they are always willing to assist. The requirements needed to accept payments online requires some information that larger companies may not want to give out. Read full review Alternatives Considered We used Zevez in the past to make credit card payments but NVoicepay is a much more robust system which also allows for ACH and check payments. Also, they were able to contact vendors for us and sign them up with their preferred payment methods. Easy to implement and easy to use.
Read full review When researching for this type of product, I did reach out to other vendors. I worked closely with Billtrust in the past and they were lacking in this area when I was ready to make my move. It is my understanding that they have something very robust in the works but I can't say where that will fall on the cost spectrum. By comparison, other companies, like Get Paid had priced themselves right out of our market. TermSync gave us the tools we needed at a price we could afford in the least amount of time and very little assistance from our IT Group, which was a big relief.
Read full review Return on Investment Nvoicepay has had only a positive impact on our overall business objectives. Since it takes care of remedial tasks of processing payments we are able to concentrate on more complex tasks such as prepping for close, creating schedules, and improving other processes. Read full review Our over 60 day list has been reduced by more than 100 accounts. Our DSO is consistently trending lower. All of the customer notes are stored in one place saving time for everyone. Read full review ScreenShots