A mobile payment solution can help retailers keep track of invoices in a manner that's secure, and efficient, saving time and money as well as reducing stress.
Filing invoices isn't a high priority on most retailers' to-do lists. It's time-consuming, inconvenient, and stressful. If you're among those who can stay on top of the filing that inevitably accompanies paper invoices, congratulations! Most people tackle it only when absolutely necessary: when they realize that their payment date is looming, and they don't want to accrue late payment penalties.
Moving to an electronic process for approval allows requests to reach the correct person directly. Now, invoices won't be passed from hand to hand until it finally arrives to the desk of the individual authorized to approve payment of the invoice. This eliminates the possibility that the invoice could be lost or damaged in its travels, but instead will be accessed securely and directly, only by the proper person.
Additionally, authorized personnel won't be required to drop what they're doing to sign for drivers. Suppliers won't be thrown off their schedule by waiting for them to be available to sign, or having to return to make the delivery should the authorized signer be unavailable.
Should there be a discrepancy, the issues can be handled immediately. The authorized signer won't have to involve the supplier's driver in the issue; instead, any dispute can be handled in a timely manner by the appropriate parties.
Mobile payment solutions will not only allow retailers to make easy payments, but also provide the metrics required to make financially prudent decisions for your business. The amount of time spent unearthing the necessary information on paper far exceeds the time spent using it.
Mobile payment solutions streamline the process for finding the data businesses need at a moment's notice. Financial records, in particular, need to be secure yet easily accessed should the need arise. Efficiency is key in today's fast-paced business world, and a good mobile payment solution will expedite your paperwork.
Gone are the days of storing invoices and other supporting documents in an overstuffed file cabinet. Instead, all important paperwork is captured, indexed, and archived in a central repository for easy retrieval.
Authorized users will have instant access to financial data anytime, anywhere thanks to the centralized cloud-based storage platform. Not only is this method more convenient, but it's more secure. Unlike the old-fashioned paper method, digital storage makes access to sensitive information more restricted, all but eliminating the possibility of fraud.
Digital storage solutions will notify authorized parties instantly if there's a security breach, allowing them to take action before criminal activity can occur.
With a mobile payment solution such as the award-winning PayApp by iControl™, electronic invoicing and payment is an easy, efficient, and secure alternative for your business.
Interested in learning more? Schedule a demo today by clicking the link below.
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