Process Recurring Payments are emailed by business owners who are waiting for a check. Ignored letters and invoices that are not paid on time prior to a phone call require an automated payment system. The cash earned by collecting and increasing cash-flow is automatically the sum of the customer's account. Establishing and adopting regular checks and credit card processing is easy.
It's tough. :
Periodic payment of process, periodic payment, automatic payment system, automatic payment
Article body:
Copyright 2006 William Hamil
In any business effort, the owner may encounter numerous sweaty-palmed experiences. Customers accused of intense criticism of the product or service, accusations of lack of customer assistance, objections to a time lag for providing the product or service, and, of course, the owner comes with a steep territory of doing business. Is realized. However, it remains a humbling experience when interacting with loud customers--from friends and relatives to a better business office about the perceived shortcomings of the business
Perhaps the most difficult situation to affect, "It's not all it is" is delayed until becoming the owner of the business or something is delayed or decided only to remind parents about the monthly fee private school to receive this response Consider the owner of: "Just give me a few more days." Thinking of the owner of a construction company who is legitimately seeking regular payments from clients, "money when you can Will be dismissed as "pay." "Imagine a gymnast owner who might have to do a back flip to gather in that monthly payment.
Whether you choose or even need, you may not easily leave with their money regardless of their responsibilities or morally correct customers of this sad situation (ie, the money is the owner should be efficiently due) Seriously, if the business spending on a business that is critical to the cash-flow- vitality is affected by income (negatively affected by slow or non-payments), all commercial failure is guaranteed, however, when it can not collect It is.
By working with the two main ways that exist, undesirable customers are left with money. Many companies have embraced collections-or do this task within or outside contracting agencies. If the business chooses to contact the customer directly, an invoice may be advanced, which is very labor intensive and expensive. The owner must consider the cost of the invoice, postage, late notice and collection call, and it is not always an advantageous alternative for an outside collection agent when it takes personnel to fulfill this duty. They usually keep at least 25% of the valued benefit of the owner.
The second way to handle cash flow-challenging customers are based on the premise that business owners must be proactive. He / she needs to realize the benefits of automated payment, and how this process can more easily prevent "Dear customer, pay me" letter
Automatic payment is a vehicle in which the customer's account is automatically debited and transferred to the owner's account on the exact date due to the payment. Upon deciding to purchase a product or to use a service, the prospective customer is given permission to transfer the payment on a specific date, a simple release client pays most notably with a check or credit card Choose a method.
An operational question arises: How is the money transferred from the customer to the owner? There are two main ways to check. One option is issued through the appropriate software, and he / she can deposit them (as if they were a paper check), so the in-house processing company will check the customer's bank information Get and convert the information into the appropriate bank drafts.
The owner can decide to use a web-based interface, a virtual terminal, instead of just entering customer information in an easy-to-use program (where data entry is done in-house). Data is automatically converted to the required format and processed through the Automatic Clearing House (ACH) system. It usually takes 2-3 days for the transfer to be completed. In scenarios where the check is NSF, some companies employ an automatic collection feature that will automatically resubmit the check if necessary. This feature not only saves the owner time and money, but can also completely eliminate the rather embarrassing process of collecting NSF items.
Periodic credit card payments can also be processed using a virtual terminal. Such devices should include an editing function that allows you to change, add, or delete customer information as needed. In addition, it is a system of transactions that there is a risk of all transaction history in the virtual terminal.
There are countless benefits using an automated payment system: it ensures reliable cash flow, cuts in expenses like mail invoices, Andy Grove, former president and CEO of Intel Corporation, Understand the advantages mentioned above. A few years ago, he said, "just as we have seen a large stream of content to the Internet, we see a shift to automatic payments on the market" which savvy business The owner should also want to be an active participant in this shift.
Procurement
The scope of activities related to the purchase of goods and services to support business operations is called procurement. When talking about sourcing, planning is the first and most important step in the entire process. Planning involves selecting missions and goals and actions to achieve them. Planning provides a rational approach to preselected goals.
It's tough. :
Procurement, Procurement Software, E-Procurement Solution, Procurement Management
Article body:
The scope of activities related to the purchase of goods and services to support business operations is called procurement. When talking about sourcing, planning is the first and most important step in the entire process. Planning involves selecting missions and goals and actions to achieve them. Planning provides a rational approach to preselected goals.
The plan bridges the gap from where we are where we want to go. It allows things to happen that would not otherwise occur. We can not confirm what will happen in the future, but a factor beyond our control is that when we do not plan, we accidentally leave an event And when it talks about business operations It is dangerous. One wrong step and business is history.
Today, most businesses are engaged in strategic planning, but the degree of sophistication and format is quite different. Conceptually, strategic planning is seemingly simple: analyzing current and future prospects, determining the direction of the company, and the means to achieve the mission In fact, this is very complex Process, it requires a systematic approach to identify and analyze factors outside the organization and match them with the capabilities of the enterprise.
Planning takes place in an environment of uncertainty. No one can see what the business environment will be for years or even next week from now on. Thus, people make assumptions or forecasts about the expected environment. Some of the predictions are assumptions for other plans.
To be effective, strategies and policies must be put into practice by planning, and the details need to be increased to understand the details of the work. A tactic is then an action for a strategy to be executed. We have identified effective tactics that we must support by strategy.
0 comments:
Post a Comment