The countdown to New Year has begun. What will your resolutions be?
We don’t mean January 1st, and the usual lose weight, take up a new hobby variations that we cite every year… we mean April 6th, the start of the new financial year, and a key time for many businesses to review their practices and put new processes in place.
A must-do task for any successful business should be to review providers and see how competitors compare, not only in terms of cost effectivity, but also in terms of performance and offering. Those providers are manifold: on top of the standard basics of electricity, gas and broadband providers, depending on the nature of your business you’ll need to consider the source of ingredients, food and drink, suppliers of clothes and accessories, which wholesalers you support and what staffing agencies you work with during busy periods.
But while it seems common sense to see how much you can save on your electricity overheads by switching provider, very few businesses realise that at the fundamental core of their business is the means to process card transactions, and that the costs and services associated with that service have a huge impact on a company’s bottom line.
And when people do recognise that, chances are that they’ll take exactly the same attitude that so many of us do when it comes to renewing our car insurance – they know they ought to shop around for comparable quotes and make an informed decision, but more often than not, other tasks take priority and before they know it, they’ve put it off for another year, and another, and another…
That’s one of the reasons that our customer service team offers to do all the legwork on our clients’ behalf. Our experienced team understands the payment processing industry inside out, and will spend time evaluating the pros and cons of various solutions with clients, providing frank and honest advice. We’re big believers in transparency, and any payment solutions provider that evades questions or is unwilling to discuss details should be given a wide berth in our book.
Once we’ve spoken to clients about the various solutions on offer, the best fit for their business, and how it differs in relation to efficiency, performance and cost to their existing solution, if they choose to switch to Annecto, we’ll review their contracts and take over the hassle of cancelling them with their previous provider, allowing customers to focus their efforts on other ways to enhance their business, grow their customer base and increase their profits.
So, with April looming fast, take a proactive approach to your next trading year and tackle the core issues to streamline processes and improve operations. The few hours spent poring over small print and seeking further insight and clarification on solutions and their benefits could be some of the best you ever invest in your business if they lead to a major overhaul of your infrastructure.