Posted by Jason Hachkowski on Mon, Jun 07, 2010 @ 10:45 AM
Is your Business Prepared? 
Writing cheques is rapidly becoming a thing of the past, and the truth is they are costing your business a lot of time and money. The cost savings of paying your bills electronically using TelPay can amount to an average of $1,450 to $2,900 annually for businesses that writes 50 to 100 cheques per month!
While cheques have traditionally been the leading method for paying business expenditures, today more and more businesses are opting to pay their bills electronically. With TelPay's pay anyone, anywhere capability your payee list is endless.
Each time you pay a bill electronically your business saves money. Take into consideration the cost of banking and credit card merchant fees, plus paper and postage expenses, not to mention your valuable time; paying your bills electronically with TelPay just makes sense.
Why are businesses adopting paperless bill payment systems?
• Businesses can save up to 78% off the cost of manual processing, by paying their bills electronically. It costs the average company $2.57 for every cheque they write (see our savings calculator for a detailed analysis)
• Electronic payments are safe and secure - there is less risk of fraud and TelPay provides you the option of single or dual authorization functionality offering you greater accessibility and management of business expenses.
• Recurring payments can be made, thereby eliminating late fees and penalties
• Paper cheques can get delayed, lost, stolen or damaged in the mail, but with electronic bill payment your payments will be made on time, every time
• Creates a more efficient process for posting and reconciling accounts by maintaining a clear audit trail including account distribution and payment history.
• More control of expenditures as you do not have to wait for the cheque to clear your account
The trend is undeniable: Business owners are streamlining their operations by using easy and cost effective electronic bill payment solutions from TelPay. With over 25 years experience as the leader in electronic payments, TelPay provides your business with advanced payment solutions allowing you to adapt and excel in this rapidly changing business environment.
Posted by Jason Hachkowski on Thu, Mar 25, 2010 @ 03:04 PM
Businesses often seek out ways to
automate/streamline manual processes.
Automating manual processes improves efficiency and helps businesses to save more money. It was the breakthrough of automation that led to the advent of the modern assembly line (thank you Henry Ford). Had it not been for automating manual processes, then it would not be possible for companies to enjoy the efficiencies which allow us to enjoy all that we do today.
The important point to note when looking at this example is that automation helps to speed up manual or repetitive processes. Speeding up manual processes allows for the time and energy savings to be reinvested in other profit generating activities. What could you do with more time? Could you make an extra sales call? Brainstorm that next breakthrough idea? Or could you simply bank that time, and allow yourself to have a vacation at some point during the year?
The same holds true when it comes to your accounts payable processes. If you are not currently processing electronic payments, then you likely are spending a lot of time manually cutting cheques, chasing approvals, stuffing envelopes, balancing books, and maybe even licking stamps. Each and every one of these additional steps costs you time to execute, and money in the form of office supplies. Are you feeling the pain of manual accounts payable yet?
This is why TelPay is helping accountants, bookkeepers, SME's, and non-profits all across Canada! The TelPay for Business software eliminates cutting cheques, accelerates dual and remote approvals, and certainly requires no stamp licking. By speeding up the accounts payable process, you will save you/your business time and money.
Book a webinar today and find out how!