Best Practice: Electronic Payments to Suppliers

bestpractice-blog

 

In today’s buzzwords, quite often you hear about best practices, but what does that mean?  According to the definition, “a best practice is a method or technique that has consistently shown results superior to those achieved with other means, and that is used as a benchmark.” 

In accounting and bookkeeping, many best practices deal with consistency, functionality and efficiency, along with saving money and time.  For payroll do you remember how long it used to take to write a cheque, get it signed and distribute?  This is certainly not a best practice anymore.

Are you ready to expand your best practices again for all business payments? With Telpay for Business, you can pay all of your suppliers and vendors electronically.  It is a simple and cost effective way to pay, regardless of whether they are in your city, across Canada or anywhere in the world.  Telpay collects and stores all banking information, which relieves you of another time consuming responsibility.  Imagine, never having to write and reconcile another cheque again.

Your suppliers receive payments as early as the next business day.  Telpay will automatically send the payment remittance information by email or fax. You suppliers have immediate access to their funds without running to the bank or waiting for a cheque to clear.  Paying electronically is not only good for your business, but Telpay improves your relationship with your suppliers too.

Let’s face it, time is valuable to everyone.  With Telpay’s electronic payments as a best practice, we can all have more time to garden, open up the cottage or simply relax.  Whatever you do, enjoy your time off even more on the upcoming Victoria Day Long Weekend.