Frequently asked questions
Product
Can I get a live demo of the TimePay software?
Do you provide services for collecting 'bad debts' - i.e. recovery agent services?
We do not offer recovery agent services or call centre services. We are focused on helping you get paid on time - using technology to improve processes. If you need help to connect you to debt recovery agents or to relevant grievance redressal forum, please send us an email at support@timepay.co.iin
How does TimePay help me reduce my credit cycle?
At TimePay, we have been successful in reducing the credit cycle by ~13 days for our clients. This improvement has resulted in savings ranging from INR 1 Lac per annum to INR 40 Lacs per annum for our clients. How does this happen - TimePay focuses on those customer accounts that need that extra nudge (most of the customers need it!!!) before they make the payment. TimePay's intelligent algorithms schedule followups in a way to maximize your collections, day after day, month after month. Within 2-3 months of using TimePay, results start to show.
What is TimePay?
TimePay is a receivable management tool that helps businesses manage their dues and get paid on time. So, our TimePay is virtual collections manager who will not only smarty automate your follow-ups, but also analyze and provide you with insightful insights, tract interactons with your customers. So that you grow faster, increase profits, and sleep better.
I can get all the data directly from Tally, why do I need TimePay?
TimePay is built as a virtual collections manager, that works seamlessly with your accounting system (say Tally). TimePay works with the same Tally data, but focuses on proactive receivables management. It ensures that all your customers are appropriately and regularly followed up with, and your cash flows are faster than before. TimePay also provides you various analytical reports, that allow you analyse the performance of your sales team, payment habits of your customers, and various business trends. TimePay provides a vital layer of CRM on accounting - thereby making your business more agile.
What is the interest cost saving that I can expect from using TimePay?
TimePay will help cut down the time taken to collect dues from your customer. This improvement in receivables days, will result in signficant interest cost saving for your business. To calculate the savings for your own business, try our savings calculator here.
What benefits do I get by subscribing to TimePay?
TimePay is on a mission to help businesses get paid in time. When you use TimePay, you are effectively availing the services of a virtual collections manager. TimePay will provide you with actionable insights about your customers, and automate payment followups. It will also ensure that all your teams -i.e. sales, collections and accounts are on the same page. We are confident that with regular use of TimePay you could save about 10 days in your working capital cycle and save on interest costs. Sounds incredible? You may want to look at what our customers have to say about us!
If I subscribe to TimePay, who should use it in my company?
TimePay is focused on helping you get paid in time. We see this as a collaborative mission - in which the company owner, sales team and accounts team work together. And TimePay facilitates this collaboration. Importantly, for your sales team, you can give them limited access to TimePay (e.g. Gujarat sales team member will only see Gujarat customers)
Pre-Sales
Feature
Privacy & Security
What about security of my data?
TimePay attaches great importance to the security of your data. TimePay ensures that all data communication and storage is done using globally proven & highly secure 128-bit encryption standards.
What about data privacy?
TimePay recognizes the sensitivity related to your data. Accordingly, we have a comprehensive protocol to ensure your data is safe and stays private. We are governed by TimePay Privacy Policy - which is our committment to ensure privacy of your data.
Technical
How can I automate sending of payment followups using TimePay?
We got you covered! TimePay provides you with an option to automate reminders (to be sent to all your customers or to select customers). If you are using TimePay, you should go to the section Report>All Accounts to change automation settings.
Will any changes made in accounting system reflect in Timepay?
TimePay is seamlessly integrated with Tally & Quickbooks. Accordingly, if your team makes any new accounting entries in your accounting, such entries will automatically get reflected on TimePay as well.
Will any changes on TimePay impact my accounting system?
We recognize the importance and sensitivity of your accounting processes. Hence, as a principle, there is NO option on TimePay to edit any accounting records. So when you use TimePay, rest assured that your accounting data (e.g. as on Tally) remains completely unaffected.
Can I use TimePay if I am not on Tally?
We currently offfer smooth integration with Tally, Quickbooks and SAP only. If you have a specific integration requirement for your business, we are happy to evaluate the feasibility. Please email us on support@timepay.co.in
Will my teams need to do data-entry on TimePay?
TimePay integrates seamlessly with Tally & Quickbooks. This means that TimePay serves as a CRM layer on your accounting software. Thereby, there is no need to do any data entry on TimePay. You will be able to manage your receivables on TimePay, looking at the same data that you have in your accounting software. So, you can get started with TimePay immediately and no extra effort is required on your part.
Pricing
What is the pricing model?
We charge on a subscription basis. The subscription is on a yearly basis, payable in advance. Details on pricing are available on our website. Refer: https://www.timepay.co.in/pricing
I have multiple companies on Tally. Can I buy a single license?
TimePay pricing for Tally clients is on a per company basis. Every entity on Tally, is chargeable separately. For e.g. Say your company is XYZ Pvt. Ltd., and you have created two entities on tally XYZ - North, and XYZ - South, and wants to use TimePay for both. In such case, you will need to buy two TimePay subscriptions.
How can I get a trial?
We would be delighted to offer you a trial of TimePay. Please email us your details on support@timepay.co.in
Trial
Customer Service
How will I learn to use the software?
TimePay is designed as a service to help you get paid in time. With this mission, the product i.e. TimePay has been designed to be very easy to use. Further, to help you and your team leverage TimePay to fullest, we offer product training at the time of implementation. Further, we also provide on-demand support through chat, phone and email. For any specific support requirements, please email us on support@timepay.co.in
How long is the implementation process? Do I need to spend a lot of time and resources?
TimePay is designed as a very simple-to-use product. TimePay can be implemented and service commenced for your business within 24 hours of start. We provide immediate (and on-going) training support. Clients are able to make full use of TimePay within 15 days of start, and start to see benefits within a month or two. You will not need to committ a lot of resources. However, we recommend to get accounts / sales team involved, so that they can start to use TimePay. Using TimePay will save their time and enhance their productivity.