Paper checks are like a lousy dinner. You have to get through it to get to dessert.
Just as the process of eating a lousy dinner, the process of getting your money via a paper check is long and agonizing.
You need to wait for your mailman to bring the check after you have waited for your client to send the check, and then you need to find time in your busy schedule to go to the bank and cash that check.
However, there are still many businesses that are using checks. Yes, they hand-write them and mail about 100 checks per month. Isn’t this funny as it is inefficient for the people who use this old technology? But for them, it works, as it has worked for decades.
However, they have never tried online invoicing and don’t realize how efficient it is!
Electronic Payment Issues
Some companies still use paper checks because it`s complicated for them to move to online payments.
Additionally, all of your employees will receive payments easily, and quickly, as well. And, the person who is working on the paper checks will have plenty of extra time to finish other tasks now.
Imagine a company of 200 employees, and in this case, they will need several people to handle and write out those checks. Imagine the people who are waiting for days for those checks to come in the mail.
Put an end to this madness by using an online invoicing tool, such as Sighted, as invoicing can be handled by one person, and your employees will receive their money much faster.
Why Still Use Checks?
There can be several reasons for this:
♦ They are Familiar:
The process of creating and sending checks is familiar to many, especially if they are seniors who have been working with paper checks for years.
♦ The Extra Time
Some companies like the delay that comes with paper checks. From sending to cashing, that check will be received probably 7-10 days later, which allows them to gain another turn of cash flow.
♦ Your Budget
Many companies think that they do not have a budget or they are not big enough to use online invoicing tools.
However, invoicing tools don`t have to be expensive. Some tools are free, and if you need more options, you can upgrade later at a small cost.
Benefits of Not Using Checks?
When you don`t use paper checks, you, or your employees that handle payment processes, will have more time to handle other tasks. So, that means that they will be more efficient, and for your company, it will mean more money not going down the drain.
I think that this is the step that will be the turning point. Do you want your employees to handle tasks that are more important than invoicing?
Of course, you do. On average, people spend about 10 – 15 minutes creating each check and imagine the amount of time it takes if you have 100 – 200 employees?
With using an online invoicing tool, you will have everything in one place, and you will spend less time on repetitive tasks.
Final Thoughts with Sighted
Old habits die hard. Today, time is everything, and time literally means money.
While dealing with checks, you are spending money on things that are not necessary. On average, paper check cost 3 – 5 dollars each, plus, the time for a person to write each one out.
It`s your decision to stay in the past or to move your company into the future and use an online invoicing tool.