Being a business owner you undoubtedly have a whole armory of tips and tricks to aid you in enhancing your businesses productivity throughout all areas of your company’s operations, just to keep ahead in today’s competitive market. An indispensable but often taxingprocess tosimplify and organize is yourbusiness’s financial expenses. Whether you may be receiving payments from customers, or transferring payments to your merchants and providers, discovering an optimal payment process can be a nightmare to countlessbusinessmen of all industries and trades.
A particularly ideal payment process that can really save you and your companylargesums of money and cut back on inefficiency is through employing ACH payment processing (Automated Clearing House). ACH payments are automated electronic transactions thatdirectly transfer funds from one bank account to another using a distinctive routing number, making the whole process faster and cheaper than alternativetraditional payment processes.
Below arevarious reasons why ACH may be the optimal payment solution for your business:
- ACH Payments are Economical
However you may look at it, employing conservative payment policies such as paper checks are out-of-date and costly. Performing payments using conventional checks are often expensive due to various reasons, such as the printing, processing and dispensation costs involved. By using ACH payment processing instead, you can save ample amounts of both time and money. Additionally, ACH payments are less costly than using paper checks, and since payments are handled automatically through electronic means, printing and transportation costs are immaterial to you.
- ACH Payments are Quick and Efficient
Disregard time-consuming and inefficient methods such as paper invoices, checks, and long excursions to the bank. Since ACH payments are performed automatically, the process can spare your business indispensable funds, time and labor since the function of this payment process removes the necessity for complex administrative procedures. By employing ACH payment processing, your company may now delegate it payroll and accounting staff towards more productive tasks. In the meantime, your customers can also gain the benefit and convenience of improved payment options, allowing you to increase customer retention rate steadily over time
- ACH is Effective for Repeated Payments Utilizing ACH payment processing makes setting up recurring billing efficient and easy. After a customer has approved the billing plan, your business can then use the payment processing platform to routinely invoice the customer automatically once the billing is scheduled. It becomes exceptionally effortless to implement since the whole procedure is completed automatically, together with auto-payment,auto-invoicing as well as payment tracking.
- Reduced Risks of Fraud
Using ACH payment processing will also greatly decrease the risk of fraudulent activities. Using Traditional paper check payments gives fraudsters the chance of manipulating the process, by changing bank account numbers and addingcounterfeit accounts. By employing ACH payments processing you can thoroughly defend your company against fraudulent behavior by offering dual controls when setting up with a vendor. Moreover, ACH payment processors are able tolimit a payees’ access to the businesses records, which additionallyenhances security and safeguardsboth payment and transaction information.
- Environmentally Friendly
Since ACH payment processing is a digital solution, the whole procedure is incredibly Eco-friendly. ACH electronic payments help reduce the unnecessary waste of paper through dispatching and transportation, as well asspare your businessprecious time and finances while also serving the environment. For companiesthatlook to be eco-friendly or are compelled to undertake corporate responsibilities, ACH payments areideally the best paymentpolicy.
Where to Start?
Now that you’re aware of the benefits of adapting to ACH payment processing, it is time for you and your business to make the switch. Kick start the integration process by getting in-touch with a ACH processor today.