Owning your own business comes with a lot of joys and a lot of responsibilities. One of the toughest parts, however, is keeping all of the balls in the air on a daily basis. How can you take care of all the details, while still taking care of your customers?
One way to help you keep a competitive edge and streamline processes in your business is to take advantage of the benefits of electronic payments. Imagine what you could do with all those hours you spend sifting through receipts, writing checks and manually balancing your checkbook.
Here are a few ways that adopting electronic payments for your business can help you become more efficient and stay focused on what really matters – your customers.
- Simplified and secure record keeping – Several financial institutions now offer a service that allows you to manage your expenses, view flexible reports, establish spending alerts, and create custom reminders – all automatically sent via email or accessible online.
- Payment and spending reminders – You have a lot on your mind, so give yourself one less thing to think about. With electronic payments, you can set payment reminders to let you know when bills are due and when your spending hits certain levels.
- Hassle-free finances = more time for customers – With electronic payments you will quickly become a cash-flow pro. With immediate, online summaries you can easily see how much money is coming in and how much you are spending, as well as who still owes you for your goods and services. Additionally, when you accept electronic payments, you can get paid instantly rather than waiting for that elusive “check in the mail” or having to follow up with a customer whose check didn’t clear.
Be sure to check with your financial institution to see if there are any credit and/or debit cards that offer small business owners discounts on everyday purchases made with these cards.
Incorporate these tips into your daily routine and get on track to a hassle-free way of staying customer-focused.
Disclaimer: Practice recommendations are intended for informational purposes only and should not be relied upon for legal, financial, tax or other advice. When implementing any new financial strategy or practice, you should consult with your financial advisors. Visa makes no representations and warranties as to the information contained herein.