Grissom & Company, PLLC is a full-service public accounting firm based in Dallas, Texas. For more than 40 years, they’ve been committed to serving all the tax and accounting needs of their clients, along with bookkeeping and management consulting services.
Today we’re shining the light on Grissom in our Firm Spotlight series, where we explore how our firm partners are creating a better experience for their clients.
We sat down with Steve Grissom, the firm’s owner, to learn about his experience with QuickFee and key benefits of using the platform.
Fewer Costs, More Convenience
Cash is still king at every business. That’s why when Steve learned that their original credit card payment processor was charging thousands of dollars each year in unnecessary merchant service fees, it led him to reassess their options.
With QuickFee Pay Now, it’s easy for firms to accept credit cards, ACH/EFT, or 3-12 month payment plans through one link. It’s also easy to bypass merchant fees for credit card payments, simply by passing a small surcharge percentage to the client.
At first, Steve was concerned that the credit card surcharge would make clients reluctant to pay with their card. “But I did talk to two or three CPA firms using QuickFee and asked the partners what they thought. They all had zero complaints about the client surcharge,” he shared.
Fast forward to two years later, and up to 98% of the firm’s clients are paying online with ACH or credit cards. There have been almost no clients asking about the surcharge.
Best of all: The firm’s costs for online payments have dropped to nearly a fifth of what they were before QuickFee. “I was asking myself why I didn’t switch years earlier!” shared Steve.
The beauty of QuickFee is that you always have an option. It’s not like I’m adding charges across the board. Clients can always pay by bank payment, too.
Steve Grissom
Easy Receivables Management
Before using QuickFee, collecting overdue receivables was an ongoing challenge for Grissom & Company, PLLC. Even good clients sometimes paid late – restricting the firm’s cash flow and creating payment headaches for staff.
Things changed after the firm switched providers, though: “Our Accounts Receivable collections are a ton better now… we went from having even good clients pay 25, 30, or 35 days out, to now paying within a week.”
The main reason for this change? Giving clients 24/7 access to a diverse range of payment options.
If a client is slow to pay, the team at Grissom doesn’t have to send multiple payment reminders. They just gently point the client to their website and share that they have a range of payment options.
This approach helps to preserve the client relationship, while the firm gets paid faster.
We add our payment options to our website, and at the bottom of each invoice in QuickBooks, it tells clients how they can pay. Everything links right back to our QuickFee landing page.
Steve Grissom
QuickFee also makes it easy for the team to track their payments: “When a client pays, we get a payment alert and an email notification on our phones. You can be out Sunday night and see when you got paid,” says Steve.
Improve Cash Flow and Accelerate Your A/R with QuickFee
As a QuickFee partner, Grissom & Company, PLLC has continued to build on their strong relationships with their clients, while getting paid on time more consistently for completed work.
Key benefits have included:
- Increased cash flow
- Reduced costs for online payment options
- No merchant service fees for credit card payments
- Getting paid by clients within a week
- Less chasing down clients for late payments
If your CPA firm faces the same challenges as the Grissom team did, we can help you create a client experience that makes life easier and frees up cash flow for the firm.
Whether you choose to accept debit and credit cards, ACH/EFT transfers, 3-12 month payment plans, or all three options, we’ll create a custom QuickFee link that makes it simpler for you to get paid.
To see how QuickFee could work for your firm too, request a demo here.
