Upcoming Postal Strike: How Will It Affect Your Cash Flow?
Posted by Michelle Bucher on Thu, Jun 02, 2011 @ 01:01 PM
If your company has been considering implementing Electronic Funds Transfers (EFT) for your accounting needs, the upcoming postal strike may be a great excuse to make your move. Consider the potential interruption in your AR and AP:
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Being unable to send or receive cheques through the mail |
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Cash flow issues |
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Courier costs for sending cheques and invoices |
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Being unable to pay vendors in a timely manner |
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Vendor holds due to lack of payment |
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Interest Payments |
EFP Processing for Sage ERP Accpac:
EFT Processing streamlines payment and collection processes and tightens control over bank transfers. EFT Processing transfers Accpac receipts and payments through to the electronic funds transfer functionality of your financial institution.
Many companies who have already deployed EFT have experienced reduced bank transaction fees, reduced postage costs due to the ability to email remittance advices, improved security on vendor/customer bank account details, improved security in issuing cheques, given the ability to process both receipts and payments, environmental benefits, and reduce the need for cheque stationery while also saving time and eliminating duplicate data entry errors.
This technology will allow your company to receive payments on time, reduce administrative costs, and improve your customer service. Consider the time it takes to open mail, sort payments, prepare a deposit and go to the bank. Put your time and resources to better use.
Don't Forget about PrintBoss!
In conjunction with the EFT improvements described above, another way in which you can mitigate the impact of the postal strike is to deploy PrintBoss Enterprise Edition. Rather than printing out a whole ream of invoices , scanning them, and then emailing them, PrintBoss will permit users to convert a whole batch of invoices to individual PDFs, and then automatically email them to the appropriate recipients. When you factor the labour, materials, and postage savings, this produt is a clear-cut winner.
Interested in learning more? Contact us 604.420.1099 or info@plus.ca