The number of invoices you have available to cash-in will be dependent on your Status and your Customer Ratings. Each of these components has a fee associated with it and if the total fee is less than 5.5% the invoice will appear in the Available or Conditionally Available tabs.
Work through the following articles to understand how cashing-in with Marmalade works and how to maximise what you can cash-in:
- Maximise Your Status
- Maximise Your Customer Ratings (you're here)
- Get to know the Tabs
Understanding the Customer Ratings:
- Your Customer Rating is an indication of how confident Marmalade is that the customer will pay in the invoice to Marmalade on time
- The higher the Customer Rating the lower the Customer Fee will be for the invoices of that particular customer
- Commentary next to the Customer Rating either on the ‘Customer’s Page’ or the ‘Cash-in Page’ will provide the primary driver behind the customer’s rating
- By improving the payment behaviours of your customers the Customer Rating will improve and more invoices will become available for cash-in
Factors that influence the Customer Rating:
The Customer Rating is primarily driven by 3 factors which we rely upon when making invoices eligible for cash-in:
- Regular Customer: Is there a history of invoicing and receiving payments on a regular basis with this customer
- Payments on Marmalade: Has this customer paid using your Marmalade bank details
- Payments on time: Does this customer have a track record of paying invoices on time
Customer ratings will improve as you and your customers adopt Marmalade and we start to see a regular track record of invoicing and payments through Marmalade, providing they continue to pay on time.
Customer Rating FAQs:
How can I see how much a particular Customer’s Fee is based on their rating?
While each rating doesn’t have a specified fee, you can see a breakdown of the Status Fee and the Customer Fee to understand the Customer Fee being applied to the invoice by clicking on the ‘Down Arrow’ next to the fee percentage.
Is this fee on top of what I’m already paying (existing customers)?
The new fee structure is not an increase in the price and is just a new representation that is more simple and transparent than the current fee structure. Overall you should see limited (if any) increases in the fee associated with cashed-in invoice and you now have the ability to influence this fee and reduce it by improving your Status and Customer ratings.
Why did the Customer Fee change even though the rating didn’t?
While the primary driver of the Customer Fee is the rating invoice level information may also factor into the Customer Fee as Marmalade assesses each invoice individually and this may lead to slight variations in the price on invoices for the same customer.
The reason provided doesn’t match this customer’s behaviour?
When Marmalade provides a reason it’s based on your recent interactions with that particular customer and may not factor in all of the history and context you’ve had working with them. This unfortunately is a limitation of Marmalade as we do need to rely on the data we have to determine a customer rating.
If you feel this is still wrong and needs to be investigated please contact our team at support@withmarmalade.com.
My customer generally pays a little late, should I just update the terms so it appears they pay on time?
It’s important that when using Marmalade the details on the invoice reflect the actual agreement with the customer, changing the way you issue invoices when starting to use Marmalade may significantly affect what invoices are available to cash-in and our ability to support you as a Marmalade Supplier.
If a particular customer only pays a little late this will be factored into the Customer Rating and their invoices may still be available for cash-in. If they aren’t, you can work on improving your Status to reduce your Status Fee or build up the customer history by continuing to issue invoices with Marmalade and receive payments through Marmalade to improve their Customer Rating to reduce their Customer Fee.