Friday, January 30, 2015

Startup Life: Why We Give Our Customers Our FedEx Information

A common, frustrating problem that many companies face is waiting for checks from a customer to show up through the regular mail. So here at Above Property, we decided one way to solve this problem is to send customers our direct FedEx account information. This way we don’t have to worry about waiting for them to send a check through the standard mail, which can take several days or up to a week or more to receive. No more checks getting lost in the mail either. Since we are a startup company, getting those checks in quickly is important. We have to pay the cost of having the check sent via our FedEx account, but the check shows up the day after they issue it, which helps our cash flow and makes us happy.

With half of U.S. companies still writing checks to pay their invoices, (according to a survey by the Association for Financial Professionals in September 2013), giving our customers our FedEx information makes a lot of sense. Here at Above Property we still mostly pay by check as well, partially because we are a small business and have less invoices to pay. But in addition, if need be, we can go back and quickly see if an invoice was paid.

As more businesses, including our own, start moving toward paying invoices via e-payments, our company will no longer need to provide our FedEx account information. With e-payments, the funds are transferred almost immediately to our account, which will make us even happier.

Posted via OnFast -

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