Nearly half of US businesses still write paper checks. But there are a number of reasons why companies should consider switching from paper checks to an electronic accounts payable solution. Below are six simple ways to rationalize embracing the technology of today to have a paper-free future!
6. Mother nature will thank you
By switching your payables from check to electronic payments, the carbon foot print of your company will be reduced.
5. Saving time is saving money
The process of paying with a check is a very timely process. Since everyone knows that time is money, eliminating the process of writing checks allows you to redistribute time to more strategic tasks.
4. No supplies needed
With electronic payments you save money by reducing the costs spent on all the supplies that are required for sending checks, from the postage and envelopes to the actual checks themselves.
3. A new form of revenue can be generated
Ditching the “paper” can bring you more of the favored paper through rebates. With CSI globalVCard you not only save money but you can earn rebates for using our electronic accounts payable solution.
2. Check fraud is eliminated
Checks remain the most-often targeted payment method by those committing fraud attacks (2022 AFP Payments Fraud Survey). Electronic payments are more secure; reducing the target for fraud attacks on companies.
1. A more efficient and timely payment method
Fifteen senior financial executives share how their company has become more efficient by moving from checks to globalVCard electronic payments and they offer advice for those who are reluctant to make the change.