If you’ve ever managed a business’s accounting, you realize that the job gets misrepresented a lot. Accountants are often represented with their noses in spreadsheets, furiously sweating minuscule financial details. Sometimes that’s the easiest part of the job. The hard part is tracking down clients who still haven’t paid, and negotiating a path between a business that doesn’t want to lose that client but does need to get paid by them. Accountants are often diplomats just as much as they’re financial specialists. That job can be made easier with credit card invoicing and credit card processing.
Why Accept Credit Cards?
When you manage your own business or do the accounting for it, you’re also managing your time. Time is money. If you spend it chasing clients, you’re using up time that could be devoted to developing other aspects of your business. The more you can streamline your invoicing and processing, the more time you save.
You’ve probably heard that statistic, the one that says most businesses fail in their first two years. This usually isn’t due to someone failing to produce a good product or deliver a good service. By the time someone is ready to step into starting a business, they’re talented and knowledgeable enough to know how to deliver products and services well. Chances are, they’ve already been in that industry for years and their clients are already very happy with them.
Credit Card Invoicing Eliminates Wasted Time
The difference between a successful business and one that fails is where time gets wasted. When you’re waiting on invoicing and processing, in chasing down clients and reminding them to pay, they’re wasting your time. You can’t dump them outright. You walk that fine line between keeping a client with good payment potential, and getting them to actually live up to that potential.
And yet it doesn’t change the fact that every time you do this, they’re wasting your time. This holds you back from developing other aspects of your business, including product revision, adding services, customer service, and making your marketing more effective. That’s a big enough difference to make your business sputter and collapse before it gets its feet under it.
Rewards, Enabling Future Purchases, and Security
Credit card invoicing is quicker. It enables customers and clients to utilize credit card reward programs. You get paid right away, which eliminates both the time spent with your nose in a spreadsheet and the time spent playing diplomat with clients. Payment information is easily encrypted and stored, which puts customers and clients at ease about making future purchases.
Customized reporting and analysis is easy to produce, allowing you to analyze your customers’ and clients’ spending habits. Security liability shifts at this point from you to your credit card processing provider. Why accept credit cards? There’s a long list, and it begins and ends with making sure your time isn’t wasted, so you can choose how to spend more of it.
Contact us today to learn more about our interchange pass-through pricing model.