Every company would like to be more profitable. And as
every business professional knows, maximizing profitability
and competitiveness means reducing costs and finding sustainable
competitive advantage. There is one activity — performed
by every company, regardless of size or industry — where
real opportunity exists to accomplish this: Payments.
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You may be spending unnecessary
time and money in the process of making payments to your
suppliers and vendors, adding significant costs to your
purchases. |
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High, hidden costs incurred in the
collection and reconciliation of payments for the sale
of products and services may be diluting your margins. |
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You may be forgoing a significant
opportunity to build stronger, more advantageous relationships
within your supply and demand chains. |
What are the alternatives?
Each year in the United States, roughly nine billion paper checks, representing
84% of all business payments, are written to settle transactions between
vendors and suppliers and their customers. But processing a paper check can
cost $5-$10 or more, often incurred both by you and your vendor or customer
in labor, materials and bank fees. And those are just the obvious costs.
Significant opportunity costs created by the inherent inefficiencies of processing
paper checks include vendor discounts not taken, exposure to fraud and less-than-optimal
trade terms.
Perhaps most importantly, few of today’s existing
payment methods can fully provide the sophisticated payment
remittance data required to efficiently reconcile business-to-business
payments, resulting in ongoing and unnecessary costs in systems,
staff and bank fees.
PayMode provides the efficiency and cost-effectiveness today’s
commerce demands…with the predictability and certainty
that helps you be more competitive, increase profitability
and enhance your company’s performance. That’s
why PayMode is a better way to make and receive business-to-business
payments today.
For more information about PayMode
contact us toll free at 866-252-7366.
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