Why are many companies moving to a B2B mobile payment solution to process their alcohol payments? Using the most advanced technology, retailers and distributors are able to eliminate cash and streamline the acceptance of checks, while electronic invoicing is already revolutionizing the payment process for many retailers and distributors who no longer have to deal with the hassle of lost invoices.
Here is a preview of the topics to be covered in the upcoming webinar - featuring the key benefits to both distributors and retailers by moving to a B2B mobile payments solution to process their alcohol invoices:
Eliminate Risk of Cash Payments
Despite the potential for risk, there are companies who require their customers to pay in cash; it eliminates the possibility of bounced checks, ensuring that the goods are paid for in full upon delivery. However, when your drivers carry cash, it can open them up to danger. Robbery is, unfortunately, a hazard for anyone carrying a great deal of cash.
Retailers are concerned about keeping too much cash on hand as well. Should a potential criminal see that the store manager is handing delivery people large quantities of cash every day, they're sure to pinpoint that store as a prime place to rob. Transitioning to a mobile electronic payment system will eliminate the risk that's associated with cash, and it will be significantly more convenient for both retailers and distributors.
Benefits of Payment Date Flexibility
Retailers that conduct business in term states have the ability to pay alcohol invoices using an established credit account. Many of these retailers are interested in the flexibility to process alcohol payments later in the payment cycle - usually 30 days from the invoice date, but can vary between the types of credit agreed upon between each individual retailer and distributor. This type of flexibility can improve a retailer's control over their cash flow, while taking advantage of credit terms available.
Eliminate Time-Wasting Activities
Another consideration is time. So much time (and money) is lost when delivery drivers are forced to wait for store managers to pay for the delivered goods. As the manager attends to needy customers, searches for the checkbook, or scrambles to count out the cash needed for their payment, your driver waits. And waits. All of this wasted time leads to delays in your driver's schedule, which could cause other customers to complain about tardy deliveries. You could even potentially lose business from these dissatisfied customers, all because your driver was forced to wait for payment.
Advantages of a Mobile Payment Solution for Distributors
A mobile payment solution such as PayApp™ will keep your driver on schedule, which will allow them to perform their tasks more efficiently and maintain positive relations with your clients. Rather than waiting for the manager to physically hand over the payment, your driver can simply log in to the mobile payment option, select the manager on duty, enter the invoice number and the amount due, and send it directly to that manager.
The manager can then approve the payment, and the funds will be directly transferred from their bank to your bank. You won't have to wait for a check to clear, and you won't need to endanger your driver by requiring them to travel with cash. In the event that a retailer does present a check, best-in-class mobile payment solutions allow the user to physically scan the check image for deposit. This convenience eliminates the possibility of lost checks, and the time wasted making deposits.
Convenience of Electronic Invoicing
A mobile payment solution won't just benefit you, but it will benefit the retailers you service as well. Reconciling invoices that were paid with cash can be a complicated process; how can retailers be certain that the invoice was paid when there's no "paper trail?" Or, worse, what if the invoice itself is misplaced? Accounting is made simpler when there's an electronic record of all transactions in one easily accessible spot.
Utilizing a B2B mobile payments solution also improves the availability of invoices as they are presented electronically to the retailer. Both the distributor and the retailer can access any invoice using an online portal - which eliminates the inconvenience of lost paper invoices. This streamlines the invoice reconciliation process, and any research can be conducted by the retailer's accounting department right in the user friendly portal.
Mobile Payment Solutions Work Well For Retailers Too
Retailers are able to process payments to their alcohol distributors invoices on time, or even when they are close to their credit limit when they receive notifications reminding them that an invoice date is approaching, or they are close to their credit limit.
Additionally, managers won't have to carve precious time into their already busy schedules to track down the proper payment method to pay the distributor when the delivery is made. Their time is better spent managing workers, assisting customers, and ensuring that the store is running optimally rather than dealing with deliveries.
We'll be sharing valuable information about incorporating a B2B mobile payment solution into your business and the many ways it will make your processes more efficient during our upcoming free webinar.
Join us for our free webinar "Going Mobile In 2017: How To Process Alcohol Invoices With A Mobile Payment Solution" on Wednesday, January 25, 2017 at 2 PM EST. We'll cover the advantages of utilizing a mobile payment solution for processing your alcohol delivery invoices rather than relying on outdated methods of payment.
Click here to register for our free, 30-minute webinar that will also include the chance to chat with an alcohol mobile payments expert.