Are you missing out?
Any business, big or small, new or seasoned, has to constantly deal with ever-present payables on the company ledger. Even if you’re a solopreneur or freelancer, you’re bound to track the money that goes in and out of your bank account. For many, things can get way too tedious unless there’s an efficient and reliable online fintech partner on their side.
Long gone are the days when bill payments and paperwork pile up on your desk as you try to balance everything manually. Now, you can perform all the necessary processes anytime, anywhere with some online help especially these days when the pandemic has forced most of us to work from home. With the right accounts payable platform, you can easily gain access to your digital books, ensure utmost security, and streamline the workload so you can enjoy more of your time without worry.
If you want to know how you can better manage your small business finances, here are a few tips to get you started:
Review your finances regularly
Even small businesses experience a hard time tracking exact dates for payables while avoiding late payments, and without depleting money in the bank way too early. Allotting even five minutes a day to review your business ledger keeps you up to date with upcoming payables or current figures in your bank accounts.
Today, most online business banking platforms offer solutions that make it easier for you to review your financials conveniently and allow you to schedule payments so you won’t have to keep worrying about being late. If you are using such a platform, review your payment options as most also offer flexible methods so you can hold on to your money longer without incurring interest.
Don’t be afraid to ask the important questions
Money matters are always a challenge especially if you are not used to balancing your accounts. Don’t be afraid to ask for some help from your colleagues! Or if you work alone, then look for an available online fintech platform that offers free support.
Most small business banking solutions you find online work to give MSMEs extra convenience that lets you manage your accounts payables wherever you are, helping you to stay on top of all your finances. When chatting with an agent, ask for what benefits they offer, how secure your money transfers and savings are, or how reliable their platform is when it comes to monitoring your cash flow among others. Asking the right questions will prove to be more convenient for you in the future and you’ll soon find how simple it is to manage your finances wherever and whenever.
Being tech-savvy will help
Of course, there’s a huge difference between using a Nokia 3310 and an iPhone when handling your finances. While we can’t deny the Nokia calculator’s reliability, upgrading your mobile phone and other gadgets to some of the newer ones that can handle modern codes for automation, notifications, and security is absolutely necessary if you want to get the most out of online business banking.
There’s no need to worry about learning how to navigate these platforms or your dedicated dashboards either. Most online solutions are devoted to providing the best user experience and you’ll find that small business banking solutions can cut down on your workload while also giving you optimum security for your money.
Document everything
We know how stressful it can be to track and make sure that payments are settled and arrive before their due dates. Via online banking systems, there’s no more need to issue check payments via the mail (which by the way are prone to be stolen anyway). Did your customer forget to pay you? Digital platforms now have the capability to remind your customers of their overdue balance. It's a huge help that these platforms let you track, monitor, and document the money you send out. They can generate digital delivery reports and notifications so you can finally get used to a more secure method of dealing with your payables.
Reliable accounts payable systems are also designed to keep you worry-free of any errors on your balance sheet so you won’t have to check for mistakes by doing traditional calculations. Through innovative automation, you can save time, reduce workload, and secure your money while managing all of your processes in a safe and time-efficient manner.
Find the Right FinTech Partner
One platform knows how to do all of these and more. Our team at NextPay continues to transform the way we do business banking that gives you more bang for your buck. Our clients have even testified to how we provide the best user experience when it comes to small business banking. Our friends from NEXPLAY gaming have this to say about how our platform works:
“NextPay has won its crown in the user experience department. We can do our tasks with little to no distractions and in the least time required. The deposit and disbursement processes are smooth and easy, with our employees now enjoying faster payment processing.”
Online business banking via cloud-based and blockchain technologies has also become more secure than traditional banking due to stricter encryption protocols. Working with us at NextPay ensures you get zero occurrences of digital forgeries or cyber theft, while your payments don't suddenly disappear during their online transit. Rest assured, our platform’s accounts payable system is reinforced with high-level security protocols that get your money where they are supposed to go.
And because you can do everything via any mobile device, both your money and your employees are safe from uncertainties or external risks. Our platform ensures that even if we are all currently working remotely, everything can still be business as usual so that you along with your partners, suppliers, vendors, customers, and employees won’t have to worry about any money matter.
Know more about how NextPay can help your small business thrive with an integrated accounts payable system.