Oct 23, 2013 10:10 AM, By Erin Shipps, senior associate editor
Electronic payments program
Marketron estimates that digital payments can save the radio industry millions -- as much as 75 percent in accounts receivable costs, so it launched PayNow to replace paper billing. Marketron estimates the industry collectively spends more than $40 million a year on processing payments. PayNow allows advertisers to electronically pay invoices from a secure portal. The benefits to radio stations are faster payments, reduced handling costs and error reduction, enabling station advertisers to pay invoices by credit card, e-check/ACH and GSA smart pay. It also reduces DSO, enables collection efforts and generally conserves station resources.
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