Why You Can’t Afford Not to Modernize Your Payments Systems
Direct sales organizations (DSOs) have thousands of partners, vendors and sales people, and paying them can be complicated, time consuming and costly. If your organization is still paying by check or Automated Clearing House (ACH), you can’t afford not to modernize. Here’s why:
- Every time you pay with a check there is the risk of loss and fraud.
- Using an ACH is faster and more secure than checks, but is also more complex and expensive. When DSOs pay out a high volume of small amounts, costs add up.
- Many vendors and independent contractors prefer flexible payment methods, which allow them to receive and spend funds from anywhere, and also reduce their reliance on banks.
As a solution, DSOs are turning to digital payments programs to save time and money.
When upgrading your program, asking the right questions will ensure that you end up with a solid solution that lets you get back to business. Five questions to ask a potential partner:
- How quickly can the program be implemented?
- How quickly does the cardholder receive funds and how user-friendly is the interface?
- How secure is the platform?
- How many systems need to be integrated and how easy is the process?
- How easy is it to manage multiple international agents/distributors using a single platform?
Above all, a modern program should be flexible and cater to your needs. To learn more about a payments program that might be the right fit for you, visit https://mychoicepreferred.com/