If your company has been around awhile, there’s a good chance you have some manual processes lingering. You might still be writing checks, sending payments out via mail and juggling paper receipts—all steps that take extra time and can lead to extra expenses. Could using a credit card be a better choice? And is making the switch worth the effort? For many businesses, the answer is emphatically, “Yes.”
Knowing how to best manage incoming and outgoing money is essential for any small business. Many business owners have extensive expertise in their area of business but not necessarily in the area of business finances. That’s why having a trusted banker makes sense. They can take a close look at your business and uncover specific ways to improve how you manage money. One recommendation that benefits nearly every small business is paying with credit cards. Here’s why.
While most business owners understand the benefits of using credit cards, they sometimes put off moving away from old processes until their business has reached a point of change, such as when they’re selling the business or passing operations on to the next generation. By making the switch earlier, they could take advantage of the benefits themselves. Yes, updating payments does take some time, but in the long run the efficiencies of leaving manual processes behind make up for it.
Not sure if moving to credit card payments is right for your business? Ready to switch but you’d like help throughout the process? Our team of business banking experts can help. From initial analysis to ongoing consultation, our team offers a concierge service to help you stay on top of money management best practices as your business evolves. To learn more about our services, visit usbank.com/bankerconnect or email me directly at kaylyn.houston@usbank.com.
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