If you run a business and use PayPal to collect payments, you don’t need me to tell you that the interface PayPal gives you to manage your affairs is a bit of a nightmare.
I know this only too well, having struggled to get any sort of useful business information out of it for years.
There are all sorts of reports and statistics any business needs to know to run efficiently.
But getting these out of PayPal is like getting blood out of a stone.
Here is just a selection of things PayPal doesn’t tell you…
- Lifetime Customer Value (LCV) – how much is each customer worth to your business on average (one of the statistics you absolutely must know)?
- Who are your best customers i.e. the ones who buy the most from you?
- Which are your most profitable products and how much do they make you?
- Conversely, which are your poorest performing products?
- Which products (and customers) get the most refunds?
- Where are your sales coming from geographically?
- What is the buying history of individual customers?
- How much are you paying in PayPal fees?
And much more.
Finally, a clever piece of software has come along that answers all of these questions and just about any others you may have about your business.
You run it on your desktop and link it with your PayPal account.
(It’s fully authorised and 100% PayPal compliant.)
PayDrill downloads all of your PayPal transactions and provides you with a suite of reports you can run to interrogate the data and turn it into meaningful information for running your business.
But that’s not all.
As well as producing all of the above business information with a few clicks, PayDrill also allows you to…
- Search for and find transactions using a variety of criteria in seconds.
- Send money to anyone directly from your desktop.
- Issue refunds to customers with just a couple of mouse clicks.
- Export customer emails to use in your marketing campaigns.
- Generate customer receipts and invoices in PDF format on demand.
- Add tags to individual customers so you can access their transactions instantly.
- Compare revenue and other statistics for two different periods to see how your business is changing over time.
To see PayDrill in action, go here…
I snapped PayDrill up when it was first released last year.
It was an easy decision to make…
Never mind the day-to-day running of my business, PayPal is simply a pig’s ear when it comes to generating annual statutory and tax returns.
You can only see a handful of transactions on any page and, when you download them, you don’t even get the debits and credits in separate columns, so you have to go through everything manually.
With a few transactions, this is irritating but manageable.
With 100’s or 1000’s of transactions per month, it is nigh on impossible.
Using PayDrill, I am able to download all of my transactions for a week, month or year and produce all of the reports I need with a few clicks of the mouse.
I (and my accountant) love it!
It may not be ‘sexy’, but PayDrill is one of those products that solves a very real problem and does it in an elegant and cost-effective manner.
I can’t imagine going back to life without PayDrill.
It will save you countless hours of time and frustration in getting the information you need to run your business effectively.
Even if you only use PayPal for you personal finances and not business, PayDrill is still seriously worth considering because it tells you what you are spending, with whom and when in a simple to digest format.
PayDrill is normally available on a monthly or yearly subscription.
However, during this short re-launch window, you can get lifetime access for a single low payment.
And that’s a very good reason for checking it out now…
What about upsells?
There are three.
The first is the inevitable ‘Pro’ version.
This is aimed at larger businesses and gives you access to more transactions and an additional suite of reports.
It isn’t really necessary unless your business is doing tens of thousands a month.
The second upsell is the ‘Enterprise’ edition.
This allows you to manage up to 5 different PayPal accounts (instead of one) at the same time and also lets you set up multiple users of the software.
This is only relevant for the largest of users who maybe employ staff to help run their businesses.
The final upsell is a reseller license with 10, 20 and 60 license options.
Given the number of people out there pulling their hair out over PayPal reporting, this is something you may want to consider, particularly if you have an existing client list.
I only use the basic version of PayDrill and that should be more than sufficient for most businesses or individuals.
Just a reminder that this special one-time payment option is only available for the next few days, so do check it out soon if your are interested…