E-payments are the way of the future for small businesses, and if yours hasn’t joined the crowd, here are three benefits you should consider.
First, let’s look at what an e-payment is. E-payments are a way of billing clients or paying your own bills online without using cash or a paper check. This can include using a credit or debit card or a cash transfer from something like direct deposit, direct debit or an e-check.
Over the last several years, e-payments have become more and more common, but many small businesses haven’t taken advantage of them. Many customers and clients, however, like e-payments and are starting to demand them as options – especially in the era of the COVID-19 global pandemic.
One way you can make things easier for your clients and customers is to make things more seamless. And submitting invoices electronically does that. They don’t have to fumble around with paper bills and writing you a check, and popping it in the mail. They can send payment electronically – easy peasy.
The fact is, e-payments cost less than traditional paper methods. You don’t have to pay for paper, envelopes, stamps or other supplies because everything is done electronically. It also lets you process more payments – and do it quicker – which frees up your employees to do other tasks.
Security is top-of-mind for many businesses nowadays and electronic payments are way more secure than a paper system. They protect against fraud and keep the process secure and seamless.
They also help easily track what has been sent out for payment, what has been – and when things are due without keeping track with a paper-and-pen system.
E-payments are the way of the future for sure, so make 2021 the year you look into options for your small business.
If you have questions or thoughts about shifting your business to using e-payments, we can help. Contact us today!