Payments Help Desk

The Elevation Blog

Managing Payments Reduces the Cost to Serve Customers and Improves Profitability on Every Transaction

Posted by Robert Unger on Feb 22, 2018 8:55:49 AM

Authored by Robert Unger 

Do you hear that low hissing sound?  Profits are slowly leaking from companies that overlook how profitability is impacted by the way a customer pays, what information they provide, in addition to when they pay.  

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A Surprising Find Among Treasurers and Finance Professionals

Posted by George Throckmorton, Managing Director - Elevation on Oct 4, 2017 9:50:31 AM

 As the Managing Director for ACH Network Development at NACHA (and Elevation), my team and I often have the opportunity to get out into the field to talk and collaborate with businesses of all sizes.  The dialogue often includes topics such as supply chain management, minimizing days outstanding, credit risk, financial reporting and reconciliation, among others.  The typical metrics used to measure success include efficiency, cost reduction, and minimizing losses. 

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Topics: Payments Consulting, Company, Payments Cost

Elevation Guides Non-Proft Startup, Change the World Fund, Through the Payments Industry

Posted by Robert Unger on Oct 4, 2017 9:45:42 AM


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Two Strategies for Reducing B2B Credit Card Acceptance Costs

Posted by Guest Author: Anand Goel, Optimized Payments Consulting on Sep 14, 2017 2:56:26 PM

By Robert Unger

According to Mercator Advisory Group analysis, U.S. commercial card payments grew at a compound annual rate of 9 percent from 2013 to 2015.1 In 2015, commercial card volume reached $428 billion.  This figure only represents about 1 percent of the B2B payments market (including check, ACH, wire transfer and cards) that totals $23 trillion (USD). 

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Topics: Payments Consulting, Receivables, Payments, payment costs, cash flow, Webinar, Electronic Payments, credit card cost, credit card cost analysis, credit card, commercial card, commercial card costs, interchange, reducing interchange

Understanding and Tracking Card Payment Acceptance Costs

Posted by Robert Unger on Aug 23, 2017 6:55:57 PM

By Robert Unger

Credit and debit card payments are surging.  The “2016 Federal Reserve Payments Study,” which has been tracking longitudinal trends in consumer and business payments, cites that: 

Payments made with general-purpose credit cards and with non-prepaid debit cards each grew faster than other payment types from 2012 to 2015, in terms of both percentage growth and growth by number.

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Topics: Payments Consulting, Receivables, Payments, payment costs, cash flow, Webinar, Electronic Payments, credit card cost, credit card cost analysis, credit card

Faster Cash Flow and Lower Payment Costs with Same Day ACH

Posted by Robert Unger on Aug 3, 2017 11:54:56 AM

“Cash is king” and Same Day ACH supports the crown!

Cash flow is the lifeblood of companies, and faster closure of accounts receivables ensures smoother operations, particularly with respect to purchases, payroll, investments, debit reduction and any other functions requiring payment.  Cash flow forecasting is one of the key metrics for most treasury departments and one of the most challenging to get right consistently. 

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Topics: ACH, Automated Clearing House, Receivables, ACH Transfer, ACH Network, Payments, Faster Payments, payables, payment costs, Same Day ACH, Treasury, cash flow

Elevation: A Calm in the Storm

Posted by Janet Estep, CEO - NACHA on Aug 1, 2017 1:14:00 PM

Amid the ongoing storm of industry activity, having all of the information at your fingertips to answer any questions you have about the payments system is nearly impossible.  Organizations need a trusted party to assess their situation, answer questions within the context of their unique organization, and provide the best guidance regarding next steps and approach.  That is where Elevation steps in – a trusted party, focused entirely on providing reliable, expert consultative services to organizations that need help understanding how payments can best work for them. 

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Topics: Payments Consulting, Company

Yes, Virginia, There Is International ACH

Posted by Robert Unger on Jul 27, 2017 8:30:24 AM

By Robert Unger

With apologies to the famous newsman Francis Pharcellus Church and his column on Santa Claus, which appeared in New York’s “Sun” newspaper Sept. 21, 1897).

DEAR EDITOR: I am 38 years old.  Some of my accounts payable and receivable friends say there is no such thing as International ACH, and that I have to make and receive international payments by check, wire or correspondent banking.  A colleague says, ‘If you see it in The Payments Help Desk blog it’s so.’  Please tell me the truth; does International ACH exist?

Virginia (the sender and receiver of international payments in my company) 

VIRGINIA, your accounts payable friends are wrong – there is International ACH!  But you’re not alone in thinking otherwise; lots of folks aren’t aware that International ACH is a payment option, and that it’s really easy to send an International ACH payment.

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Topics: ACH, Automated Clearing House, Receivables, ACH Transfer, ACH Network, Payments, International Transfers, Cross Border Payments, International Payments

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

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