Processing payments from customers is one of the most important aspects of running a successful business. Delays in processing can cause all kinds of problems for a startup or established company. Here are three reasons why you need to adopt real time transactions.
1. Improved Cash Flow
For any business, cash flow is king. Waiting a long time for payments can leave you unable to pay your suppliers, which could damage your reputation. Not only could this lead to problems buying supplies, you could also be forced to pay higher prices in future. In contrast, real time transactions give you the ability to on the other hand, when your business always has cash available, you will always be ready to invest in new opportunities that can help your company to expand.
2. Reduced Risk and Overheads
Being owed a lot of money is a risky situation to be in. You have no way of knowing whether your customers’ payments will arrive on time or whether they will default on their debts. Real time transactions reduce the risk to your business, particularly when you use a highly secure system that is compliant with the Payment Card Industry Data Security Standard (PCI DSS) such as IntegraPay.
Using real time transactions also reduces the overheads you face in processing payments, giving you an affordable way to receive payments from your customers.
3. Flexible and Scalable
Real time transactions give you the flexibility you need to manage your money in the most efficient way possible for your business. When you switch to real time transactions, you will no longer be forced to wait around for payments to process.
Instead, you get the money you are owed right when you need it, which means you can choose whether to save it or reinvest it right away on new equipment or services to help your business grow. As your company expands, real time transactions scale with the size of your business, ensuring that you never run into cash flow problems that could halt or slow down your growth.
Whether your business is small or large, new or well established, switching to real time transactions could bring enormous benefits. Contact IntegraPay today to find out more about the benefits of real time transactions for your business.