Payment plans are coming to ASAP. It’s a feature our clients requested because their customers did too. All the way down the line, adding more flexibility to the core registration management system made sense to us, so we scheduled development for our next release, mid-June.
Meanwhile, you might be wondering, what’s a payment plan?
If you have a kid in college, you probably use a payment plan to spread the total cost of tuition, dorm, meal plan and what-all across twelve months. Or, in another example, you contract for insurance coverage on your home and car for a year in advance but you pay toward the total due monthly or quarterly or annually to suit your budget.
Let’s say your organization offers an expensive set of professional development certification courses through ASAP, but some of your customers have no possible way of paying for it up front. You can help by offering Payment Plans and allowing your customers to spread the payment across the duration of the semester.
Functionally, the system will take an invoice (even one with multiple items on it) and mark it to be paid off over a set period of time. Maybe it is all due in a month with weekly payments. Maybe six months with monthly payments. You define the options, schedule the payments and ASAP does the rest. ASAP adjusts the balance due when a payment is due, charges a card on file (if there is one) and all your financial reports are adjusted accordingly. A customer can even make an unscheduled payment (you know, like when a customer wins the Powerball lottery or finds a hundred dollar bill lying on the sidewalk). Then you just re-calibrate the payment plan and all future payments/schedules are adjusted to reflect the advance payment.
ASAP also continues to offer a recurring billing service for classes. While only a slight variation on the theme, this service allows you to configure a class with a simple monthly payment for all students. For example, you may offer a yoga class that runs year round with a simple fee for participants of $100/month. This is quick and easy to configure in ASAP and a real convenience for your customers.
We have lots of cool features built in to our Payment Plans, but this gives you a quick overview. Look for more details in the coming weeks!