Today is a good day. You’re happy with Ablii’s simple, low-cost, and easy way to make payments. But did you know, that through the power of your own network, you can further improve your payables and receivables process? And not just your payables and receivables, but that of each member of your business network?
Let’s start with an example. It’s tax time, and your vendor is doing last minute bank account reconciliation. You paid the invoice in question through Ablii months ago. Your vendor received the payment, and was notified by email. However, through a series of unfortunate events, your vendor accidentally deleted the payment confirmation email (gasp!). After combing through months of bank statements, they do the sensible thing and pick up the phone to call you. It’s 7pm on a Friday. Because you go above and beyond for your partners, you pick up the phone. Through a few quick clicks, you pull up the invoice, payment, and confirmation through Ablii and resend the information to your vendor.
In the example above, there is one key thing missing: information. One party has better access to the payment information than the other. Now, imagine this example again, but this time, both you and your vendor have access to the same information through Ablii. The result? Your Friday night is saved! Your vendor can easily access the same information at their fingertips.
Time saved with escalation management, as in the example above, isn’t the only benefit to having your network of vendors, customers, and suppliers all on the same payment platform:
As only the “payer” pays a fee, the sender receives the money for free–unlike wire transfers, which are expensive and cost both the payer and receiver.
Better manage cash flow
Having all your payables and receivables in one place will help you manage cash flow for both your expected revenues and expenses.
All parties have access to the same information, and you have timelines for when payments will arrive or leave your account. This is contrary to checks, where the payer is at the mercy of the receiver…who has up to 6 months to make a deposit.
Easily search payment history for questions and inquiries. Never dig through emails again, as the payment information is attached to the invoice.
It’s time to start now
You have the ability to harness the power of your network to improve the payables and receivables process for all. At the end of the day, our business clients come for affordable payments, but they stay for the network. Your business partners will thank you.
Have a business to refer? Contact us to find out about our latest referral bonus!