Net-D 30 Woocommerce Plugin: A Great Value Addition for a Long-Term Impact
These days, every business irrespective of the niche and size has a website. Without an online presence and without allowing businesses processing transactions online a business is likely to lose a lot on sales as well as business conversion. But when it comes to processing payment and facilitating transactions, payment and invoicing plugins can play a really important role.
Woocommerce, the eCommerce platform of the WordPress CMS platform has been a popular platform for innumerable eCommerce stores all over the globe. Woocommerce is regarded as one of the most engaging, user-optimised and result-driven eCommerce CMS solutions for modern businesses. Like several other plugins that are capable to make value additions to the web experience, Net-D from CMARIX Technolabs Pvt.Ltd. recently came as a great plugin for invoicing and payment processing. A crucial part of the ease of use ensured by the Woocommerce platform is the extreme flexibility and ease with which payment is processed and transactions are facilitated without slightest frictions.
What is Net-D Payment Method?
While the modern eCommerce users are already familiar with the payment processing methods such as credit cards, debit cards and COD, paying an invoice amount within 30 due days has been known to only a few numbers of websites. This payment method is popularly known as Net-D term where the D refers to the Days. In short, this payment method allows paying the dues within days of making a purchase.
Net-D is a particular type of trade credit that allows the customers to have dues for certain days after making the purchase. Such credits through the Woocommerce store are only provided to the customers purchasing products in bulk or making frequent or regular purchases. This Net-D payment term may vary based upon the days for which this credit is made available for the customers. Following this, rule there can be Net-D 10, Net-D 15, Net-D 30 and Net-D 60 payment terms.
Quite surprisingly, WooCommerce CMS doesn’t provide a ready-to-use plugin for this Net-D payment method and this is why any Woocommerce online store needs to use this custom Woocommerce plugin for the purpose. Recently, CMARIX Technolabs Pvt.Ltd. has built a fully operative Net-D 30 plugin to help stores giving trade credit to its customers for 30 days.
Does This NET-D 30 Term do?
This Net-D 30 plugin allows the eCommerce stores to take full advantage of the customisation capacity to facilitate trade credits for customers in a frictionless manner. Following the customisation of the payment method of the store with this plugin, the customers are provided with the option to select check-box against each customer who is eligible for this trade credit. For example, there are several businesses who basically use this plugin for the wholesalers.
The selected customers and users for this payment feature will be notified with a mail or message comprising the reference number.
While the customers can just go through the normal transaction process, the Net-D 30 payment option will be visible to the selected customers among the front end payment methods. The user has to provide the reference number st the final step of the transaction.
Finally, admin of the store has always the right to hold such orders nail the reference number for the transaction is verified with the order.
How to Utilise Net-D 30 Plugin for Better Invoicing?
The new Net-D 30 plugin from CMARIX Technolabs Pvt.Ltd. can help Woocommerce stores in a variety of ways. To utilize the plugin to the fullest advantages of the business the store needs to know about the crucial aspects of the invoicing procedure and how it can really add value to the business process in the long run.
- Be Specific to Options
There are some common misunderstandings that you need to take guard against. First of all, “net 30” refers to “due in 30 days,” and for the non-tech savvy customers the latter term can be easier for understanding. Similarly, the term “Due upon receipt,” can be used to refer to “not urgent” payment that doesn’t offer any specific timeline.
- Provide Discount
Along with this payment, method discount can be added as per the business strategy for selective customers. The store can decide to offer 1% or 2% discounts for all those customers who pay early. There can be other incentives and promotional offers as well like gift checks, free shipping, any free service, additional merchandise, etc. Just keeping in tune with the incentives for early payment, a charge can be levied for late payment as well.
- Sensitising Customers on Payment Terms
These incentives and late payment charges are basically implemented by the stores to sensitise clients about the strict and non-compromising payment terms that everyone is expected to follow without any deviation. This uncompromising character of the payment term should be clearly and explicitly explained to the customers who are eligible for this payment method.
For an eCommerce business, Net-D 30 plugin can be a small value addition for a selected few customers but nevertheless, the plugin establishes trustworthiness and loyalty for some valuable customers. As a small change to your eCommerce store payment method, it can really render a great long-term impact.
Atman Rathod is the Co-founder at CMARIX TechnoLabs Pvt. Ltd., a leading eCommerce development company with 13+ years of experience. He loves to write about technology, startups, entrepreneurship and business. His creative abilities, academic track record and leadership skills made him one of the key industry influencers as well.