Earlier this week, GoDaddy released the latest addition to its technology offerings for small businesses. The Get Paid solution is designed to help small businesses collect and manage payments from clients from anywhere, and is based on two main trends in the small business arena: Mobility and e-payments.
I was able to speak with Steven Aldrich, GoDaddy’s SVP of Applications this week, and he went into detail about the two trends listed above. Primarily, he told me that more and more businesses, particularly in the “S” space, are doing business on the go. This means that not only is the actual work being performed at the customer site, but that the business owner often has to complete various other business duties while away from the office. This includes finances, and making sure that all payment is received for work completed. To compound on this, many SMB customers are preferring to pay electronically.
As many of you remember, GoDaddy released SMB Financial Survey results in March 2014, which found that 25% of small business owners have lost track of whether or not a client has paid for their services. In addition, 45% of SMB owners say that late payments are a major pain point in their business. To help overcome these issues, GoDaddy developed the Get Paid solution with help from its user community.
“For SMBs, every dollar is critical,” said Steven in our interview. “We have worked to build a series of solutions to help the SMB make and keep every dollar they can, as easily as possible.”
So what does it do? The Get Paid solution enables SMB owners to easily manage the billing process, from estimate to receipt. In fact, SMB owners are able to create, send and track all estimates, invoices and receipts to better manage payment schedules. Through this solution, customers are able to pay via a variety of methods, including PayPal, which Steven mentioned is becoming more and more common, ACH, credit card and debit cards.
In addition to accepting PayPal, the Get Paid solution works well with the Dwolla payment portal, which has a fixed-rate for payment processing. Users may also use the third-party Stripe solution, through which they can send a photo of their card to the SMB owner for payment processing. I asked Steven about the security of the Stripe solution, given the method of transferring information, but he explained that the solution only transmits the numeric information on the card to process via a payment portal.
For more information about GoDaddy’s Get Paid solution, please visit the site at: https://bookkeeping.godaddy.com/get_paid
