How You Can Help Cut Costs during COVID19 with DirectSend for your Supplier Payments
Like most companies managing a business during the COVID19 pandemic, you’re likely looking for ways to help cut unnecessary costs, and boost sales during this time.
One way to reduce costs, while helping to improve processes, is the elimination of issuing cheques for outbound payments. Did you know that cheques can cost anywhere from $15-25 per cheque to issue? Additionally, shipping, postage and any fees incurred if cheques are lost or stolen, make cheques not only a high cost option, but a risky one.
At a time when payments need to be seamless, accessible and on schedule – whether to employees, vendors or other businesses – cheques are not a risk you can take.
And for businesses that rely on their suppliers and vendors for critical business operations, the COVID19 pandemic is not the time to rely on cheques to pay those critical players. Not only are they expensive, but unreliable. DirectSend, however, allows you to issue payments for invoices directly to a supplier or vendor’s bank account in real time, on schedule and for a fraction of the cost.
So, think about all of the outbound payments you make as a company…now think of the cost associated with issuing all of those payments. What DirectSend aims to do is significantly cut those costs to help you save in the long run.
DirectSend offers a fully custom branded platform or full API integration to suit all your business needs, as well as cuts administrative work in half with streamlined reconciliation and cash flow management, allowing your staff to focus on what really matters during this time. Plus, with real time authorization of payment and transaction success, and PCI compliance, you can rest assured that your business is not only cutting costs, but also streamlining their processes to be more effective.