Category Archives: Telpay ASP Partner

Get Your Electronic Payment Questions Answered

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.

Bookkeeping Firm of the Year – AIS Solutions

celebrateCongratulations to Juliet Aurora CPB, President and CEO of AIS Solutions in Burlington Ontario, for being honoured by the Institute of Professional Bookkeepers of Canada (IPBC) as the Bookkeeping Firm of The Year. Juliet is a long time Telpay customer and proud partner in our ASP Program.

The Bookkeeping Firm of the Year Award was created to recognize a member firm who upholds the IPBC standards and ideals. As well as a firm that has had significant success along with contributing to their community. Juliet Aurora and AIS Solutions are very deserving.

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Customer Spotlight: AIS Solutions

ais-spotlightAs a business owner or accounting professional, we all like things to be hassle free…right! Meet Juliet Aurora, founder of AIS Solutions in Burlington, Ontario and a Telpay ASP Partner. Juliet and her team at AIS Solutions, pride themselves on providing business owners with “no hassle” bookkeeping done right.

In 2000, while in search of work-life balance, Juliet made the decision to set up an accounting business from her home. From those humble beginnings, Juliet has grown AIS Solutions into a full-service bookkeeping and small business advisory firm with a team of ten. And, this fall she will be launching a cutting edge Training and Support community for Bookkeepers called Kninja Knetwork. Juliet has found her work-life balance by incorporating tools that help her succeed in all aspects of AIS Solutions. Today, she successfully runs a thriving business while still making time for her family and friends.

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Don’t Sweat the Postal Talks

sweat-talksAs the talks continue in the 30-day cool off period between Canada Post and the Canadian Union of Postal Workers, businesses are still sweating about the possibility of a mail disruption. Continue reading

Get Ready for Possible Postal Service Disruption

postal-disruptionDid you know that Canada Post and the Canadian Union of Postal Workers have been in contract negotiations since late 2015 to reach a new agreement? Already some of Canada Post’s biggest customers, including the federal government, are being told to make contingency plans ahead of a possible contract dispute with workers this summer. According to a CBC News Report on May 27, Jon Hamilton, a spokesman for Canada Post stated, “while the corporation is not trying to be alarmist, it has decided to inform some key clients about the possible service disruption.” Continue reading

Don’t Be Taxed This Season

taxedAre you feeling the stress of another tiring, tough and downright taxing season?    Tax season doesn’t have to be stressful and overwhelming.  Here are five strategies to help you manage:

Be positive: Your mental health and state of mind have a significant effect on your professional and personal life.  It has been well documented that people with a positive attitude are more upbeat and peaceful.  Even during tax time, you can choose to be positive amongst the chaos of the season.

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Still Saving You Money

saving-moneyWe all hear talk about the good old days. What you could buy for a dollar back then is worth more than a Toonie now. Yes, prices have doubled (sometimes more than doubled!), but not Telpay fees. Let’s take a nostalgic look back to see the rising costs for individuals and businesses.  Continue reading

Understand the True Costs and Fees of Credit Cards

There are many well-known benefits for businesses who accept credit card payments. Credit card payments are convenient, help improve cash flow and increase sales. However, there are also many not so well known disadvantages that a business is faced with when they offer credit card payments to their customers. These disadvantages include interchange, charge back, and monthly fees, to name a few. Continue reading

Pillar 8: Business Management – Customer Selection and Ranking

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The series is from Chartered Accountant, consultant and author, Jeff Borschowa, from his book, 8 Pillars for Exponential Business Growth. The series is focused on how to find new and better ways to integrate innovation and technology to enhance the customer experience and improve efficiency in the accounting process.

Are all customers good customers? Generally, the answer depends on the industry you are in. If you have a homogeneous product or service that can be found anywhere, then you probably don’t have enough customer interaction to really worry about whether or not a client is a good fit for your business. However, if you offer a unique product or service and have an extended customer relationship, then it becomes imperative to be selective with the customers that you take on.

For example, if you are a custom home builder that takes a year to build a high-end house, you will likely be very interested in having a customer that you can work with.

There are two parts to client selection and ranking. You can first filter out unsuitable clients up front if you are clear as to who your ideal customer is. If, however, you have a lot of customers, then you need to look at your existing clients. When I work with my clients, we often look at their accounting records to determine how many customers it takes to make up twenty percent of their revenues. We compare that to how many customers bring in the remainder of their revenue. In most cases, the numbers are very revealing. You can often build your business just by focusing on your top customers.

Process Limits – Value and Volumes

qualify-lady-paymentThis article is part of a series on “Qualifying to Make Sure Clients are a Good Fit.”

Before you break out that Telpay Application, as a Partner you have one more qualifying step to walk through with your client: determining your client’s anticipated payment processing needs.  We define this as “Processing Limits”, which is the maximum dollar value payment file that your client is able to process. We recommend you work with your client to help them estimate how much money they will need to meet payroll, payables or a combination of both.

Once you have determined your client’s processing volume, the next step is to choose the appropriate processing limit.

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Pillar 7: Value Added Services

asp-pillar7

The series is from Chartered Accountant, consultant and author, Jeff Borschowa, from his book, 8 Pillars for Exponential Business Growth. The series is focused on how to find new and better ways to integrate innovation and technology to enhance the customer experience and improve efficiency in the accounting process.

Providing good products and services at fair prices will earn you trust and loyalty from your customers. The great news is you can leverage this relationship to identify customer issues and offer more in-depth solutions.

The range of services you can offer is limited in part by your industry, but it may also be limited by your own imagination. For example, you may not be able to offer much to your customers in the way of value added services if you are in a tightly regulated industry with externally imposed limitations.

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Qualify Clients Part 2: Funding Payment Options

qualify2This article is part of a series on “Qualifying Your Clients.”  Learn how to properly qualify clients at the beginning of the sales process, by asking the right questions and having all the knowledge needed to ensure they benefit from electronic payments with Telpay. Continue reading

Pillar 6: Technology – The Cloud – Part 2

pillar6-part2

The series is from Chartered Accountant, consultant and author, Jeff Borschowa, from his book, 8 Pillars for Exponential Business Growth. The series is focused on how to find new and better ways to integrate innovation and technology to enhance the customer experience and improve efficiency in the accounting process.

Part 2 – Core Benefits of Cloud Computing

Cloud solutions can provide greater security. However, the real benefits usually revolve around availability, cost effectiveness, flexibility and scalability.

Cloud providers will usually have a written guarantee to demonstrate that their systems will be available. Most offer some variant of 99.99% “up time”. You can even get greater up time, usually measured by another 0.009%, if you are willing to pay higher fees. It all comes down to how much down time will impact your business.

Cloud solutions are cost effective, flexible and scalable, because you can often pay only for what you need. If you need five users, you pay for five users. If you add a sixth user, you pay for one more. Cloud solutions are built on large-scale hardware, so they can easily accommodate the addition or removal of team members on your side. We will focus more on costs in the next section, virtual versus physical servers.

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Pillar 6: Technology – The Cloud

pillar6-technology

The series is from Chartered Accountant, consultant and author, Jeff Borschowa, from his book, 8 Pillars for Exponential Business Growth. The series is focused on how to find new and better ways to integrate innovation and technology to enhance the customer experience and improve efficiency in the accounting process.

In this section, we will discuss:
• What is the cloud?
• Cloud security
Through this discussion, we will also examine key criteria to evaluate when looking at cloud solutions.

What is the cloud?
The cloud is essentially a metaphor for the Internet. Specifically, an external server or servers performs the bulk of the processing work for a given task. The user accesses the computing power via the Internet. The real power of the cloud is that the computing power is no longer held within the actual device accessed by the user, thus, we can dramatically reduce Information Technology spending by integrating lower cost devices, such as tablets and smart phones in place of expensive work stations. The other advantage to cloud solutions is that we can literally access our programs and data anytime and anywhere, as long as we have reliable Internet connectivity.
There are various terms that you will hear in relation to computing, but the most common one is “Software as a Service.” This particular model involves software that is hosted no a central server and you pay a monthly per user access fee. The provider maintains responsibility for software updates and maintenance, freeing you up to focus on your core business needs.
We are seeing more people becoming comfortable with cloud computing. Perhaps an example or two will clarify the definition and demonstrate that you are likely already using the cloud, whether you call it that or not. Online functions such as banking, booking flights, and reserving hotel rooms are all examples of cloud solutions. They have been around long enough that most of us do not even question their existence any more.

Cloud Security
We hear a lot in the media about hackers and attacks on large facilities. Unfortunately, this gives us a false sense of security in thinking that hackers are targeting large organizations and will leave small businesses alone. The reality is that most information technology issues or security breaches in small businesses are the result of hardware failure, internal errors or disgruntled employees deliberately sabotaging data and computing resources.
Hacking instances make for good news fodder, but they are not indicative of the real risks you there. The reality is that a centralized computing environment, such as the cloud solutions available today, represents an opportunity to centralize security efforts and build a stronger defence around our data.
When you are selecting a cloud solution, pay close attention to their security and privacy policies. You want to make sure that you retain access to your data, they don’t have access, and your data is in some way encrypted. One word of caution, some industries have specific guidelines that govern their use of Information Technology, including restrictions on what data can be in the cloud. Ensure that you know about any unique rules surrounding your business before you start looking at cloud solutions.

Next Month – Technology Part 2 will cover the following:

• Core benefits of cloud computing
• Virtual versus physical servers
• Examples of cloud technology