Your payments may be costing you more than you think.
Is your accounts department running at maximum efficiency? Manual processing of invoices, payments, refunds, and reconciliation. Delays in payments and manual errors that strain trading relationships. This adds up to inefficiency and missed opportunity that result in direct and indirect cost to your business. Take a look at what your current payment methods could be costing you.
EFT & Direct Debit
the cheapest way to pay
The hidden costs of travel payments
An illustrated example
The benefits of automating your payment processes
Automation improvements: Businesses can achieve up to 70% savings in payment processing.
Error Rates: On average 3.6% of invoices have errors, automation will reduce those rates.
Fraud and duplicate payments: Generally resulting from poor controls that would be provided through an automated system.
Financial Controls: Controls over settings and authorization
Trading partner Satisfaction: Complete transparency and maximum efficiency for vendors.
Cost of Capital Overdraft facilities carrying 8% interest would no longer be needed to cover late payments
Focus: Allocate your resources to areas that grow your business, not your back office.