If your business is still playing the paper invoice and wait game, it’s time to look into upgrades. Mobile payment processing is rapidly taking over because of the convenience for everyone. There is no use for a point of sale when your work is done in the field. This is ideal for those who are in the construction industry or field service industry, such as concrete, roofing, cleaning, plumbing, electrical, restoration, and HVAC.
WHY DOES IT MATTER?
It all comes down to cash flow. Are you a smaller business that relies on payments in order to cover your supplies? Either way, expenses won’t stop coming in. Suppliers, employees, resources, building materials, and other expenses will continue to pile up regardless.
Having to wait for a previous payment on a job in order to get the needed materials for the next job is detrimental to doing business and is likely hindering your profitability. If you are mailing paper invoices it can be anywhere from days to weeks until that payment hits your account.
This is a very cost-effective and simple addition to your business with rewards reaped outweighing the fees that you would have. Think of it as an eco-friendly way to replace stamps, stationery, and accounting/bookkeeping costs.
BENEFITS FROM MOBILE PAYMENTS
The best option is to utilize mobile payment options. Being able to collect payments while out in the field not only ensures payment but also helps you get into a better cash flow position, which in turn will bring about many benefits and stability.
- Instant payment at the time of service which allows for better planning on future jobs
- You will save time — It is easier to keep track of everything if you have it in one location.
- Makes collections simple — It will become less of an issue with payment collected at the time of service.
- Digital records — Having automated records of job completion and other information at your fingertips
- Less time between completion of the job and payment which means more work in the future
- More sales
- Mobile invoicing apps integrate with accounting software
- Being able to take multiple payment types
- The ease and simplicity mean happier customers, and happy customers give referrals.
MOBILE PAYMENT OPTIONS
- Ingenico Move 5000 wireless terminal
- ICT 250G wireless terminal
- Verifone Vx 680 wireless terminal
- Converge software on your cell phone or tablet
- Poynt wireless point of sale system
In short, there is no reason that you should NOT be taking mobile payments. If you would like to read more, here is an article by Honeywell that will have a breakdown of more of the benefits of the mobile payment processing VS paper invoice model.
Contact us for help with deciding which mobile payment option would be a good fit for your business. Let our Payment Professionals show you the ins and outs of mobile processing and other services that may be helpful to you.