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Payments Help Desk

The Elevation Blog

5 Reasons Why It’s Crazy for Businesses to Write Checks

Posted by Robert Unger on Jul 20, 2017 11:21:20 AM

Remember the Saturday morning “Jetsons” cartoon when George Jetson took his dog Astro out for a walk on the space treadmill?  Yikes!  He got sucked up into a never-ending, out-of-control spin cycle, screaming “Jane, stop this crazy thing!” 

Similarly, many businesses are stuck on the check-writing treadmill, and the spin cycle is cranking out an unfathomable 20 million commercial checks each day.  

Jane, stop this crazy check thing!  Here’s 5 reasons why it’s crazy for businesses to write checks.

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Topics: ACH, Automated Clearing House, Receivables, Business, Fraud, Debit Payments, ACH Debit, Payer, Payee, Checks, Managing Cash, B2B

Unlike Algebra, Businesses Need to Know About ACH Payments: Free Webinar Recording

Posted by Robert Unger on Jul 13, 2017 9:34:14 AM

If you’ve experienced the “joy” of having teenagers matriculating through middle and high school, you’ve no doubt heard the question, “Why do I have to take Algebra?”  

I know with each darling little one of mine, I tried to articulate the importance of problem solving, mastering methodology, applying logic to formulas, etc.  But, I gotta admit, I’ve never encountered a need to solve a quadratic equation post algebra class, and I still went to college, got jobs, married and am enjoying an Algebra-free life. Of course I couldn’t tell my kids that.  Better that they suffered through it like I did!  

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Topics: ACH, Automated Clearing House, Receivables, Business, Webinar, B2B

5 Ways to Drive Customers to Pay You via ACH

Posted by Robert Unger on Jun 13, 2017 9:31:52 PM

You want more ACH payments from your customers because ACH: 

  • Costs less;
  • Requires less labor to process than checks and you can’t increase hires (or have to decrease head count);
  • Improves cash flow and DSO (days sales outstanding);
  • Provides customer convenience with an option for credit (i.e. “push”) and/or debit (i.e. “pull) payments;
  • Reduces fraud exposure;
  • Carries a boatload of remittance details for easier cash application, particularly for B2B payments.
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Topics: ACH, Faster Payments, Webinar, ACH Payments, B2B

B2B ACH Credits to Surpass Checks by 2020 - New Survey

Posted by Robert Unger on Jun 13, 2017 7:04:17 PM

NACHA and the Credit Research Foundation recently conducted a study of payments trends, preferences, and perceptions of electronic payments by credit and receivables professionals. NACHA's Rob Unger sat down with Matt Skudera, VP of Education and Research for the Foundation, to get his views on some of the most interesting finds from the survey.  You'll be surprised! Learn more by listening to the recording of the Webinar covering the same topic.

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Topics: ACH, Receivables, cash flow, Credit Research Foundation, Checks, B2B, Electronic Payments

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