Why you need automated payments for business growth and longevity

5 min read

During times of prosperity there are plenty of customers and credit to go around, which makes succeeding in business relatively easy. But, when markets take a downward turn (as they always do) you will need to apply your shrewdest of business nous to stay alive – particularly if business growth and longevity are your goals.

Savvy business leaders know that positive cash flow is vital to successfully steering an organisation through market ups and downs. But, did you know that automated payments could contribute positively to your organisation’s cash flow position to produce a powerful long-term competitive advantage? Here, our experts reveal why automated payments are your long-term advantage to weathering the storm and outperforming your competition to achieve business growth and longevity.

Automated payments improve your cash position

In our popular article ‘top strategies to getting paid on time’ we revealed that, in Australia, a whopping 60 per cent of invoices are paid late. This means that most organisations are effectively giving an interest-free loan to their customers while being left to cope with the challenges of having less cash on hand to handle day-to-day expenses. Automated payments transfer cash into your account on the day that its due, which decreases the risk that you will need to rely on credit to handle day-to-day business expenses and improves your cash flow position on any given day throughout your financial cycle – and every financial controller knows that an improved cash position equates to an improved competitive advantage.

Automated payments save you time and money

Each organisation on our client list comes with a unique set of goals and challenges. But, when new clients make that first phone call to our team, they nearly always have one thing in common: they are time poor. They are looking for a way to reduce the time their team spends on administrative chores so that they can get their more important work done and maybe even find some time in their day to focus on more fruitful business growth and longevity programs.

The right automated payments system can dramatically reduce the time your staff spend completing cash administration tasks like managing debits into your organisation, chasing late customer payments and manually running financial reports. And of course, the great double-advantage to reducing the time it takes to do business is that you get to save money and free up talent at the same time. The majority of our clients see a return on their Ezidebit investment the next month after implementing their automated payments software – which is a very persuasive business case to present to your chief executive.

Automated payments – your long-term competitive advantage

When implemented with expertise, the right automated payments system will yield two of your most crucial business resources: time and available cash. You can significantly increase your organisation’s long-term competitiveness by redirecting this additional time and available cash into business growth and longevity programs such as researching and strategising new opportunities.

  • Reducing the time you spend on cash administration tasks will decrease the cost of doing business and free up staff to focus on business growth and longevity programs.
  • Your automated payments system will transfer cash into your account on the day that it is due – meaning you significantly reduce the risk of non-payment and have more available cash to take advantage of business growth opportunities as they arise.

You can start capitalising on automated payments right now

As financial controller of your organisation, it’s in your best interests to get up and running with your new automated payments system as quickly as possible. That way, you can start capitalising on automated payments right now and get a head start on your competition for the long term.

Talk to us now about getting your organisation up and running with your new Ezidebit automated payments system right now.