Simplify Getting Paid by Adding Remote Deposit

Digital payment options are transforming customer relationships and enabling businesses to reduce the amount of time, effort and expense in processing payments. Here's what you need to know about Remote Deposit and Payment Capture technology:

Running a business is tough work, but by adopting the latest in digital payment solutions it is possible to eliminate one source of headaches and make it easier than ever for customers to pay you faster than ever. Adding digital payment options doesn’t just make life easier for customers; it also allows business owners to spend their time and resources on other, more demanding parts of the business by reducing the amount of time and effort spent processing payments.

In the past, chasing and processing payments was an arduous and time intensive task. Noting payments as they came in and getting deposits ready before making a separate trip to the bank was just the start, as it was still necessary to perform regular reconciliations of payment records. None of this was free in terms of time and expense, and today there are better, more secure, and faster solutions available that make it easier than ever to keep a finger on the pulse of your business cash flow.

Mobile Technology for the Business World

The latest digital technology makes it easy for businesses to deposit checks remotely. All it takes is a scan or photograph of the check. You can even use your camera phone to snap a quick shot of the check and upload it directly to your bank account via the Internet.

Internet banking, offered by most retail and commercial banks that cater to small business, typically includes the remote payments and deposit captures through a web browser or mobile device. When accessing your account online you can check and update your balances and transmit payments digitally. Best of all these services are live and online around the clock, giving you the flexibility to spend business hours on managing your business, not your checkbook.

Embracing the latest remote deposit services offered by your bank can save you time and money. The efficiency of this new payment technology can enhance your profitability by freeing you and your employees at all levels of the business to focus on more important things than collecting from customers or reconciling the timing and amounts of payments.

Faster Deposits are Better Deposits

It’s best to make it easy for customers to issue remote payment and pay you electronically through a variety of ways. Making full use of all available payment solutions including cash, check, debit and credit card processing at the point of sale, and on-line payments helps customers put money in your business faster.

For a young or fast growing business a stable and free-flowing stream of inbound cash is critical. Enabling payments that are convenient for your clients and deliver you cash quicker is a real win-win situation, and some of these cash-flow enhancing tools give you immediate access to money instead of waiting for restrictive banking business hours and check clearance guidelines.

In fact, solutions such as digital deposits and remote payment capture often credit to your business account on the same day, as long as the transaction comes in before 7:00pm. This effectively extends your business hours available in a day for the purpose of cash flow management.

Go Mobile for Success

The spread of smart phones and tablets has greatly reduced customer dependence on traditional computers, and an increasing number of individuals and businesses are paying their bills on their mobile devices. These payments often deposit the day they’re made, offer full records of any deposits made when requested, and are increasingly more secure than traditional methods of payment due to modern data encryption. Customers looking to make payments with these devices require little more than an internet-enabled device and a cellular signal, meaning that today most clients can pay you while on the go.

It Sounds like Digital Solutions are Ready for Business

While technology has always served a purpose for businesses it’s now possible to offer an increasing number of secure payment options to customers, all of which get you paid faster than ever.

As an added plus the automation of payment and deposit reconciliation and integration with customer relationship management (CRM) software systems means that it’s possible to quickly and easily gain insight into order flow and payment processing information, all in a way that can proactively signal any upcoming cash flow issues.

Best of all it doesn’t cost much to get started, very little tech-savvy is needed, and customers are already moving toward digital and mobile payment solutions. If you haven’t already started planning, then now is the time to get started with remote deposit and payment capture - after all, your customers, and your cash, are waiting!