Are You Easy to do Business With?
Every business leader wants their company to be “easy to do business with.” These words may sound simple, yet if you’re like many other business owners, between email, meetings and putting out fires, there rarely is enough time in the day to get to everything. And if you’re not taking the time to look for ways to improve ease of doing business, it can negatively impact profitability and growth without you even noticing.
No matter what industry you’re in, being “easy to work with” (i.e. reliable, accountable, punctual, etc.) can differentiate you. Ease becomes especially important when dealing with financial matters. As your business grows, your supplier network expands and so does your dependence on an effective supply chain.
What if you didn’t have to worry about making vendor payments on time? What if identifying the best way to pay was no longer a manual process? You can transform your supplier experience and achieve “easy” status in the minds of your suppliers by making payments easy with a commercial card solution.
Your secret weapon to gain this competitive advantage may be a purchasing card. With a purchasing card, you can verify and approve payments quickly, simplifying payment management and reconciliation. For example, let’s say your company is currently working with 100 vendors and we identify 40 that can be paid with your purchasing card. Once that is set up, you can manage the payment of those 40 vendors through a purchasing card application. You can regularly pull down invoices from your accounting software and then authorize them to go out at the appropriate date and time, meanwhile your vendors will be notified when payments have been received. Purchasing cards make payments easier for your suppliers, your employees and you.
In addition to paying vendors, as your operations grow, you can eliminate cumbersome management of employee expenses with a travel & entertainment card. A travel & entertainment card empowers your employees to entertain clients and run errands for the company within an established set of parameters. Your employees are able to easily purchase what they are authorized to buy without paper shuffle and cash, making both of your jobs easier.
And what if “ease of doing business” didn’t end there? You can strengthen your cash flow when using either a purchasing or travel and entertainment card program. The thirty-plus day float feature gives you a larger window to manage operating expenses and also offers a cash back rebate.
When you use cards to improve your ease of doing business, you want the personalized service you’re use to with Enterprise. That’s why you won’t get a 800 number or have to deal with transfers when you need support. You can call your relationship manager directly for support.
Our job is to make it easier for you to do business. How are you working to dial up your cash flow and ease of doing business? Learn more about how other business leaders “Turn It Up” in our latest Think Tank on Extended Payment Terms.