The advantages of paperless payment

Cash flow is the lifeblood of any business, and it's even more vital for small businesses that don't have infinite reserves backing them up. But it often seems that, with every billing cycle, some invoices go unpaid.

In an economy where small businesses are struggling to stay vital, delayed payments are more than just bothersome - they can put your business in jeopardy. That's why many small business owners are turning from paper-based accounts receivable systems and seeking new, paperless ways of accepting payments that make the process easier from start to finish.

Going paperless does much more than eliminate stacks of invoices and overstuffed files of receipts. By taking your billing processes online, you can easily manage accounts in one location, making it faster to find information that you need, like payment history, invoice status or customer data. Other simplifying steps, like setting up recurring billing, e-mail invoices and automatic tracking, cut down on your workload and make it easier to track where your payments are.

For small business owners who want the benefits of going paperless, using an online payment acceptance and invoicing tool like AcceptPay, from American Express OPEN, makes it easier to do all these things. But perhaps even more importantly, it makes it easier for your customers to pay you by making a number of different online payment options available.

A recent study by Javelin Strategies shows that receiving bills and paying them online translates to happier customers who are more satisfied with the companies they're paying. By offering a wide variety of payment options, including the ability to pay by credit card, e-check, automated clearing house (ACH) transfer or bank-to-bank transfer, AcceptPay can help keep your clients happy and allow them to pay from anywhere.

Because AcceptPay cuts out the waiting period for payments to arrive or for checks to clear, your business can get paid faster. As soon as your client makes an electronic payment, the cash your business needs is deposited directly into your checking account.

Small-business owners have to juggle a lot of duties: managing staff, overseeing day-to-day functions, collecting payments and, most importantly, doing everything you can to grow your business for the future. Finding paperless solutions that make those tasks simpler and more efficient is easier than ever before, thanks to solutions like online invoicing and payment systems. And when all your work is streamlined, you can focus on keeping your business booming.