As a business owner, you may have to process large sums of money as efficiently as possible. Whether you take £5,000 a week of £50,000 a week, it’s not always easy to find a way to organize that cash. It’s not even easy for your customers to get it to you in the first place.
However, there are a number of considerations you can make. It’s not always easy to take your business up a notch, but you have a range of options. These range from payment methods that are easier for customers to more organisation for behind the scenes financials. So, here are 3 easy ways to modernize how your business accepts and processes income.
Get Online
Over 3 billion people use the internet, yet it’s an area in which many businesses stumble. A lot don’t even have an online presence and don’t even allow purchases to be made online.
It can be quite a daunting endeavor, but it’ll be worth it. Setting up your own online store and allowing customers to pay by credit card means you can branch out to people the world over. Instead of just reaching people in the vicinity of your shop floor, you can reach people the world over.
An even easier method still is to use a service like eBay. All the benefits with none of the website building, you can process orders and easily organize shipping costs. However, eBay takes a cut of sales, so if you want 100% profit, building your own store is something to consider.
Apple Pay and Mobile Wallets
Customers generally want a quick transaction. It’s a busy world out there, and making a swift purchase can greatly ease frustration and save valuable time. This in mind, outfitting your business with contactless capabilities is ideal.
Providers like Payline Data can help you accept services like Apple Pay and various other mobile wallets. For the customer, it’s as easy as scanning their phone to complete a payment. For you and your employees, it cuts down on any potentially confusing till usage or cash counting. The more smooth an experience your clients have with your business, the more likely they are to return.
EPOS
Having an electronic point of sale on your shop floor has numerous benefits. One, it allows you to track all inventory and stock from a connected system, so when you make a sale you’ll know how many of that item you have left. You can also view sales reports and updates from your mobile device, so even if you’re away from your shop floor, you’re never out of the loop.
As a bonus, an EPOS system comes with all the usual functions of a sales service, like cash drawers, card readers, and basic security. It’s a safer, more efficient method than a standard till, and it’s one that will catapult your business practices into the modern era.
If you’re an entrepreneur or business manager, how do you manage your financials? Have you improved customer transactions in any way? Tell us your thoughts in the comments!
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