One of the questions that may come up with businesses you speak to is – “What are the cost savings when you eliminate cheques from your business payments?”
For your convenience, we have a simple Savings Calculator to show your clients just how much they can save.
Using this calculator will help give a perspective not only of the overall payment process but how many pieces go into each cheque sent out in the mail.
The Savings Calculator considers elements such as postage and the cost for cheques, but then comes other factors such as bank fees and forms, along with intangibles such as assembly and the actual mailing. Quickly, you will see how the cost of continuing with cheque payments adds up.
We also take into consideration another aspect – time. If businesses are writing cheques or balancing books with a ledger and chequebook, they spend more time than needed to keep records up to date.
This time, particularly for emerging business owners, can better be spent planning and growing their company. For those who have led or been part of a company for a longer period, well, it goes without saying just how much more time is needed in a day.
Bearing in mind these factors, you can easily show what payments through Telpay’s processing system can do for their business. Whether it’s a regularly-scheduled amount that goes to a supplier or a one-off, they will save time and money thanks to Telpay for Business payment software.
To learn more about how Telpay saves your company’s bottom line, call one of our representatives today at 800-665-0302 or email email@example.com.
The signs of summer are all around us. Street vendors are out, signs for festivals are going up around the city, and the smell of barbeques are permeating everywhere.
Yes, summer is a relaxing time of year, but just because you’re taking a couple of weeks vacation doesn’t mean that your payments are also. Amid the rush to get out to the cabin or shutting down your office early on a Friday, it’s easy to forget to make a payment.
The good news is that with Telpay, you can authorize payments from anywhere you receive email.
Yes, you read that right. Whether you’re at the farmer’s market or on your boat, if you’ve got a signal, you’ve got a payment made, thanks to Telpay’s remote authorization email capabilities.
How does it work?
The bookkeeper or accountant on your Telpay account sends an email directly from the Telpay for Business software with payment details that you as a signing officer require for approving payments.
The benefits of remote authorization include:
- Increased productivity – No need to wait for your signing officer to come back from their holidays. Your office can progress with projects that involve supplier payments.
- Financial savings – Don’t let payment deadlines lapse and incur interest cost. Take advantage of advantage of sales that your suppliers may have over the summer.
- Getting greener – Don’t worry about pre-signed cheques in the office. Keep the space clean – and green – in your office for the summer months.
To learn more about remote authorization, join us for one of our upcoming webinars. As a bonus, you’ll receive a gift card for Starbucks or Dairy Queen so you can further enjoy summer with a special treat, courtesy of Telpay.
Register today by clicking here.
Conversations with clients about accounting and bookkeeping practices can be challenging at the best of times, but proposing to the long-time cheque faithful that it’s time to go electronic can be one of the most nerve-wracking dialogues you’ll ever have.
Of course, you know the advantages – the time and financial benefits of transitioning to an electronic payment system – but communicating this to your client, particularly if they are steadfast on keeping cheques, may be a struggle.
In preparing for these conversations, bear in mind the questions they may bring to the table. They’ll be concerned about making sure that payments are going through to their suppliers correctly and securely. For your clients, getting into the digital world, inundated with press stories about security alerts and missing payments, is an intimidating prospect; but arming yourself with the answers to their questions will help with easing their businesses into electronic payments.
Consider these questions that you may receive:
- How is supplier bank account information collected?
- How is this information maintained? How is it updated?
- How is this information secured?
- What happens if a payment is rejected or returned?
You and your clients have the questions, and we’ve got your answers. As a trusted and valued Telpay partner, we want your business to thrive, and we are here to help you thrive. Contact a Telpay representative at 1-800-665-0302 or use our online form and you’ll receive a response within one business day.
It is with great excitement that Telpay announces that our founder, William H. Loewen, has been named a recipient of the 2017 Governor General’s Ramon John Hnatyshyn Award for Voluntarism in the Performing Arts.
Mr. Loewen receives the award in recognition of his 30-plus years of dedication to the arts in Winnipeg, particularly with the Winnipeg Symphony Orchestra where the foundation that he and wife Shirley began has donated over $1 million; but his support of the famed organization goes far beyond financial contributions. Bill has also been a volunteer with the Symphony for over 40 years.
“More than anything, we have valued his advice, his friendship, and his genuine love for symphonic music,” WSO Executive Director Trudy Schroeder wrote in a guest blog on the Telpay website. Continue reading
In discussing electronic payments made through Telpay’s secure payment systems, we may at times use unfamiliar terms. To help you have a better understanding, we’ll be providing a series of articles that explains Telpay’s terminology.
What is a Biller?
Billers, simply put, are businesses or individuals that you need to send money to using Telpay for Business. These can be suppliers, employees, consultants, contractors, utilities, donations, credit cards and government remittances.
With Telpay for Business, you can quickly look up these billers with our convenient biller search field. If the company or individual is not in our system, no problem; simply add your biller’s information using the detailed payment screens.
To learn more about Telpay Billers, contact one of our representatives firstname.lastname@example.org or call 1-800-665-0302.
When it comes to any payment you’re making, you have options with Telpay.
It’s something we’ve always prided ourselves on – being flexible to the methods our clients prefer. It’s what has made Telpay for Business one of the most advanced electronic payment systems in Canada.
We’d like to take a moment to tell you about the options available to you.
Option 1: Integration with Accounting Software
The first is importing through your accounts payable systems. As we’ve talked about in the past, our platform integrates smoothly with your accounting software, which helps you streamline your payment processes.
There are several reasons that Telpay is the payment solution partner of choice – trust, security, flexible payment methods, unparalleled billers and others that we have talked about in this space.
One of the most overlooked Telpay reasons, however, is the way we collect and manage supplier’s bank account information.
With traditional EFT systems, businesses typically need to contact suppliers and ask for their bank account information. For most businesses, gathering this information is a hassle because a supplier won’t have the information at hand or they are reluctant to provide it over the phone or email. If a supplier’s bank account information is not in Telpay’s database, we will contact the supplier to get their information so that an electronic payment can be made.
Telpay not only collects supplier’s banking information, we also manage and securely store their information in our Biller database. This is to ensure payments are always sent to the correct bank account and payment information is delivered in exactly the format that they prefer, such as email, fax or efile, along with invoice and customer account numbers, if required.
Take the stress out of your transactions and simplify your supplier payments with Telpay. To learn more, contact one of our representatives by email at email@example.com or call us at 1-800-665-0302.
Are you still making some of your business payments by cheque? Are there too many steps to tracking down signatures? Does your mind race over payment deadlines, discount rates or worse, cheques lost in the mail? These challenges may bring on anxiety and stress that could lead to an increased heart rate. Stress can sometimes be a good thing, however, too much stress can cause harm to your health and increase your risk of heart disease (Source: Heart and Stroke Foundation).
Reduce stress by going electronic!
Eliminate the hassles of cheque payments by maximizing the features of Telpay’s electronic payment system. In addition to paying your employees electronically with Telpay, you can pay suppliers, contractors, utilities, credit cards, government remittances and more. Join us for a webinar to learn how your business can benefit from electronic payments.
The month of January brings with it a new year of possibilities and hopefulness for your business, but it’s also one of the critical times in the calendar as you ready yourself for fee increases.
One of the rates we’re used to seeing rise are for postage, and unfortunately 2017 continues this trend. As Canada Post has recently announced, meter prices for domestic standard letter 0-30g changes to $0.82.
One of the most interesting aspects of human nature is that very few of us are truly open to change. We establish our routines; we settle in a particular neighbourhood, and for the most part, we keep these consistent for much of our lives. This is particularly the case in our professional surroundings.
A hockey player, for example, will remain loyal to a brand of equipment for familiarity and comfort, a chef will swear by a particular knife maker whether they are cutting meat or vegetables, and an office worker will remain steadfastly loyal to Windows-based or Mac computers. Trying to get any of these workers to switch to another system is an exercise in frustration.
Recognizing this, Telpay continues to support a wide variety of accounting programs, even those from companies that are no longer producing software, or versions that have since been replaced in the market.
This time of year, your office is a hub of activity. Your holiday festivities needs to be planned, staff vacation schedules need to be carefully balanced and any closure dates need to be sent out to your clients.
For a company’s financials, this means having all ducks in a row and ensure that any outstanding payments must be completed. Fortunately, Telpay is here to help you, and we’re starting that off now with some tips to help you wrap up 2016 and stay on track for the upcoming new year.
Plan for 2017
It’s just a couple of weeks – the new year! What is your company’s electronic payment strategy going to look like? If you’re unsure, we’ve compiled “The Ultimate Electronic Payment Checklist” to help you maximize and leverage all the features and benefits of Telpay’s services.