No matter how you have kept track of your books in the past, you should always consider how you are planning to optimize this for the future. There are plenty of systems that are available that provide a whole host of reasons for you to consider ditching receipts, and many make it a simpler process for both you and for your clients.
If you have been thinking about upgrading to paperless payments, here are some reasons it can benefit you.
1. It saves on space
You likely have a number of files and paper items that you have been saving for years. Some you might have accessed, while others you have never touched again. This can be especially true when it comes to receipts and keeping track of all of your transactions. Going paperless means that all these files that you would normally have to keep in a physical location can now be kept and accessed online—no more looking through stacks of folders or file cabinets.
2. It provides better security
The best merchant account cares as much as your security measures as a business as you do, and they will work hard to make sure that you don’t run into any problems when it comes to client information. Sending receipts to customers through their email addresses and having heavily-protected files makes it much safer than giving out files with important details on them, such as credit card numbers, addresses, and more.
As a business, this information is likely to be what you have built your company on, and you can actively lose clients if you don’t make an active effort to keep files safe from hackers or others that might want to take advantage of that data.
3. It allows you to identify trends
Going paperless allows you to use software that can help you in ways that typical receipts do not. Having the data all in one place allows you to make smarter business decisions when it comes to marketing, inventory, and more. In order to run your company more efficiently and also identify any problems you might be having, using integrated software along with a new POS system can make a big difference and help you to hone in on areas that might need improvement.
4. It makes reoccurring payments much easier
If you have clients who have an outstanding agreement with you and that you process payments for on a regular basis, then you know how much harder it can be when you don’t have systems in place. By going paperless, you are saving yourself a lot of time and effort that you would making sure that reoccurring payment went through. A POS system or software that is integrated can take only minutes to set up and help you when you have several clients on file that you charge regularly.
As technology improves, it’s important to consider whether or not you want to upgrade your business along with it. For many, going paperless can help them to be more organized while also assisting them in how they run their business operations.