Payment portals have become quite common for billing and collections. They give customer a one-stop shops to make payments, view invoices, look back on transaction history and manage their accounts. If you accept electronic payments, you should have one, preferably branded for your company.
Getting paid - and getting paid on time - is one of the biggest headaches for any business. It takes time and resources better spent elsewhere to zero out every account. When payments are late, you’re serving as a de facto credit provider for your customers - at your detriment.
A week goes by and your client still hasn’t paid your invoice. A month goes by and it’s still the same. Two months become six months and you’ve now lost out on opportunities to expand your business because money you’re owed remains elsewhere.