According to Stats Canada, more than 1.7 million Canadians work from home and no doubt that number has skyrocketed in recent weeks as companies try to ensure the safety of their employees.
The good news is that technology allows for a relatively smooth transition to remote work, but this sudden shift also presents some challenges.
One of the biggest hurdles for companies used to making payments via cheque is how to pay bills, employees, and the government from home. It can also be quite costly and inefficient to send those cheques, which isn’t ideal in the current economic climate.
Telpay’s all-in-one payment software for businesses, Telpay for Business, can help you solve both of these challenges. Here’s how.
Streamlined payments
Once you have Telpay for Business set up, you can pay employees, government remittances, and bills to over 150,000 businesses from an all-in-one platform. Plus, Telpay for Business works with a wide range of accounting software, including Adagio and QuickBooks, as well as payroll software like Easypay and Paymate.
No cheques
Working from home makes cutting cheques nearly impossible. Handling paper documents may not be the safest option right now for you or your payees. But with Telpay for Business, you just need to enter the payment details on the platform and then choose how to fund your payment — either by transferring funds from your financial institution to your Telpay Trust Account, or by using the pre-authorized debit option where Telpay will debit your account for you.
Cut expenses
In such uncertain economic times, companies are looking to cut expenses any way they can, and Telpay for Business can help you do that by eliminating expensive cheque costs, wire transfer rates, and credit card fees. Once the platform is installed, bill payments are 50 cents apiece and direct deposit is as little as 15 cents per employee, no matter the payroll software program or payroll service provider.
Remote approval
When you’re working from home, let alone practising physical distancing, getting payment approvals can be a headache. Not with Telpay for Business. The platform’s remote authorization feature allows signing officers to approve payments from anywhere. You just need to send an auto-generated email from the platform to the signing officers. If accepted, you’ll receive a confirmation email with a user code that you then enter on the platform to finalize the payment file.
Want to learn more about how Telpay for Business can make your remote payments a whole lot easier? Head to telpay.ca/for-business or contact us directly at 1-800-665-0302 or sales@telpay.ca.