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Remote Deposit: There Are Lots Of Ways To Get Paid
Small business owners face a number of challenges in growing and operating their companies, but advances in technology have simplified one facet of business payments. Digital and mobile technology provide business owners quick access to capital, freeing up time, expanding growth options and cutting “paperwork” down to a few clicks of the mouse.
Historically, payments and collections have been time consuming but essential chores: recording payments, preparing deposits, driving to a bank branch, waiting in line and reconciling the books at the end of the day cost companies money. However, through the use of remote deposit and payment technology, payments are received and processed digitally via computer, smart phone, tablet and a variety of payment gateways. The result? Less time and money tracking cash flow.
Business Gets Digital
Remote deposit enables businesses to deposit paper checks from any location. Simply scan the check, or snap a picture of it using the camera feature of your smart phone, and upload payments to the company account using the world wide web.
Most banks now offer remote payment and deposit capture as part of their on-line websites. Simply log on to your accounts page, upload images of payments, check account balances and get back to business. It's digital banking technology designed specifically for small business owners.
You save time, cost and hassles by managing business accounts remotely. You also have access to accounts on your schedule 24/7 so you can balance the books after dinner if that works best for you.
Time and money are scarce business resources. Remote deposit conserves these resources, increasing the productivity of staff from CFO to data entry clerk. Today's digital and mobile (mobi) tech simplify the process of payment collection, deposit and reconciliation, leaving more time and capital to grow a business to profitability.
Capital Access NOW!
Remote payment and deposit are conveniences for customers, too. The more payment gateways you offer from on-line cash transfer sites to debit/credit cards at POS, and from paper checks and even cash, the faster your business is paid. Simple.
Cash flow management is essential, especially in a lean economy. By making remote payments when and where it's convenient for customers and clients, your small business has access to funds in real time immediately upon receipt by the bank.
Today, same day posting is the norm, thanks to electronic funds transfers.
Traditional branch deposits are only good as long as the branch is open, which usually means that payment checks post until 4:00 PM local time for same-day availability.
With remote payment capture and digital deposit, most banks accept same-day transactions until 7:00 PM because the transaction by-passes the branch and goes straight to processing. This means you and your customers make remote deposits after traditional business hours, and still make the same-day cut-off. Payments are recorded immediately so those funds are available for the next business day.
Smart Phones = Smart Business
Mobi tech has eliminated the need for computer access. Customers make payments using their smart phones payments that are deposited into the company account when they're received. Today, customers and company owners don't even need a computer or a Wi-Fi hotspot to make and pay for a sale.
If you have cell phone coverage, you have access to the company books. And with highly-encrypted data transfer protocols, transactions are safe and secure no matter where they're made or how.
Same with payments from customers. Money is transferred securely into your accounts, with complete deposit records available for printout any time, any where remotely.
Time To Get Digital?
You bet it is.
Using this established technology, your business saves time (and that's money), customers have numerous ways to make payments and you have access to funds faster.
Payment reconciliation is handled automatically and you can even sync up payment and account information with your client relations management (CRM) software to track every order, every payment and identify downstream log jams before they become problems.
The initial expense is low, the learning curve is short and your business benefits from the day you go digital or mobi. So get on board and get up to speed.
Remote deposit and payment capture is the way business is done…and done right.