As a business earns more money, requires bigger loans and accepts larger quantities of payments, things can get complicated and they need more effective payment processes.
Many companies in their first year or two may not realize the payment issues they need to consider later down the track. As businesses receive greater trade they will need to scale up their payment processes and financial systems with quicker deals and larger quantities of money.
To put it into perspective, the United States has some 28 million small businesses taking hundreds of millions of payments each day.
So how can businesses manage their trades?
Organization is paramount to financial success. To keep money flowing smoothly, organisations need to upkeep the following services:
- Payment Processes: Keep it simple and maintain transparency. Clients want to know exactly what they’re paying, with easy to understand rates and fees.
- Terminals: Have an easy method to accept payments both on the go or in store. This means a secure, fast credit card machine programmed to work on mobile networks, point of sale systems or over ethernet.
- Payment Gateways: Many transactions are completely online. Not only does this need to be secure for both client and business, but there should be multiple options of payment such as Apple Pay to Android Pay.
- Lending: When a business needs extra funds, this should be easy to acquire, flexible and under control.
Who can help you?
Tidal Commerce is a merchant solutions company that focuses on helping small and medium sized businesses grow. They offer payment processing solutions for merchants of all sizes, both online and in-store, including secure and easy credit card processing, a strong point of sales system, easy online payment options and a flexible lending system — all the points mentioned above.
Through Tidal Commerce, merchants can manage their inventory, employees and customers all from one interface. Tidal’s Point of Sale has a built-in CRM with cloud dashboard to help manage inventory and sales reports.
“We’re offering small and medium businesses the data and functionality that is only available to the large businesses,” explains founder and CEO of Tidal Commerce, Drew Sementa. “The main difference to our competitors is that we offer hardware, software, and the payment processing backend to our clients as a total value package. Businesses are normally locked into long contracts with really large cancellation fees if they want to leave. We’re committed to transparency and fair pricing.”
