Scoro and Stripe – Let’s Get You Paid Faster
Invoicing and payment are often the final chapters in the story of a project, and just like with any great book or movie, a good conclusion makes all the difference. The value of getting paid on time for work delivered cannot be overstated, as it is vital to your business’s cash flow and your ability to forecast revenue successfully. Having visibility, in real-time, over which invoices have been paid and when, without the need for any manual data reconciliation, also frees up time to focus on more important work.
So why not make it as easy as humanly possible for your clients to pay you – quickly, securely, and from absolutely anywhere?
Introducing Scoro’s Stripe integration
Stripe is a widely used payment processing platform that makes sending and receiving payments online faster and easier.
Stripe handles over 250 million API requests per day, meaning a peak of 13 000 requests a second, and they estimate that 90% of adults in the USA have used their service to make a payment. This familiarity drives trust and means you’re presenting clients with a service that they know and recognize already.
We’re always looking for ways to automate more parts of your business processes, and with this integration, we’ve taken a great leap forward by giving you the means to speed up your cash flow and vastly improve your visibility of when and where payments are made.
The benefits of using Stripe with Scoro
Borderless payments for a global world. The days of agencies and consultancies working hyper-locally are long gone, with global advertising and customer sourcing options opening up an entire world of clients.
For example, if your business is based in Dublin and your client is in Sao Paulo, and you’re relying on traditional bank transfers, you’re most likely dealing with hefty payment delays. Stripe offers cardholder support in 145 countries and is available to businesses in 45. So no matter where your customers are (within reason), they can pay your invoices instantly.
Simplicity of payment. The easier you make it for your clients to pay your invoices, the better. With Stripe, they can pay from any device, using multiple payment methods, including direct bank link and credit card. Say goodbye to laboriously processing paper cheques or checking your bank account regularly to see if an invoice has been paid yet.
Automatically sync your payment data. All payments via Stripe are automatically synced back to Scoro, and the invoices are marked as paid. This might be the best part of the entire integration. Automating the key parts of your professional service business removes the danger of human error during data capturing and means that when you look at your financial reports, you see a real-time, fully up-to-date view.
Save money. By removing the need to use several different payment processors, you’re setting yourself up for some significant savings. Stripe offers a simple pay-as-you-go pricing model, which means you only pay for the processed transactions, with no monthly or annual subscription fee to bite into your profits.
Modernize your payment flow. By now, people fully expect to be able to pay their invoices online. It is 2023, after all. Supplying your clients with an instant payment link directly on their invoice presents your business as a modern, technologically capable one, and by saving time for your clients, you keep them happier.
How do you set it up?
We’ve provided detailed instructions on how to set up the integration in our Help Center here. If you’re already using Stripe, you can connect your existing account to Scoro and start adding payment links to emails or invoices. If you don’t have an existing account, you can create one directly through Scoro. It takes about 10 minutes to get set up, and you can start accepting payments immediately.
What are the costs?
Stripe’s payment system is designed to be simple and bring predictability to your payment processing costs. Make sure to familiarize yourself with their pricing model here. You’ll only pay for your transactions, with no subscription or hidden admin fees. Once the payment is completed, the invoice is marked as paid, and the transaction costs are automatically added to the invoice. This pay-as-you-use system also means you’re not locked into a lengthy subscription and can switch the integration on and off as you wish without penalties or hassle.