Doing Business by Check Costs B2B Organizations
The true costs extend beyond the fees for paper and postage
While payment technology is transforming businesses at an unprecedented rate, there are many B2B firms who still use what they know – antiqued processes to accept payments. In fact, more than six in 10 firms use legacy methods to pay for commercial goods and services according to pymnts.com.
One of these methods is the use of paper checks. While they seem like an easy and direct payment method, the true costs of this outdated process go beyond the fees for paper and postage.
Modernizing Payment Systems is Necessary
Particularly within today's fast-paced business world, where companies are constantly seeking new ways to streamline their operations and increase efficiency, automating the payments process would appear to offer an easy win for a B2B firm.
Please select this link to read the complete blog post from OSAP member i3 Merchant Solutions.