The COVID-19 pandemic has left a lasting impact on small, medium, and large businesses globally. There’s no denying that general sales across many markets have suffered due to decreased spending, minimized discretionary income, and economic uncertainty. While companies of all sizes continue to battle the financial consequences of COVID-19, merchants must inform themselves on ways to maintain steady revenue and keep businesses afloat.
Don’t be afraid to reset and rebuild.
Before the global pandemic, your business may have functioned well using traditional payment processing or physical bookkeeping. Customers did not complain, and you did not mind inefficiencies so long as sales continued to come through. Unfortunately, a hands-off financial approach just won’t cut it if you want your business to survive the next year.
If business owners have learned anything this year, it is to not be afraid to reevaluate your company’s structure and consider rebuilding the way transactions are completed. Unfortunately, constant cash culture is on its way out. Customers are less likely to carry cash or checks in order to avoid contaminants from unfamiliar surfaces. Therefore, credit card processing continues to gain traction as a primary form of payment. Additionally, changes in technology have allowed companies to precisely track small and large mobile transactions. Merchants can still have full control of the money coming into their business if they opt for a digital point-of-sale system. Rebuilding your company’s payment structure can help consolidate costs, track payment activity, and facilitate quick revenue turnover during this unstable economic climate.
Make good use of company time and resources.
Have you heard the saying “time is money?” It’s a popular phrase for a reason. Now more than ever, business owners cannot waste time performing transaction troubleshooting or recovering revenue that’s being held by an archaic point-of-sale system. This time should be spent on projects that increase project turnover and long-term sales. Why not have one system where you can centralize transaction support, bookkeeping, and field activity? That way, employees can maximize time for tasks that generate revenue.
With a fully functional point-of-sale partner, your business can enjoy seamless transactions 24/7. Your payment processing system should feature an easy sign-in process and accessible customer service with a live agent. These features will cut out unnecessary time wasters. Gone are the days of spending precious time operating tedious transaction systems. Save employee time and business resources for crucial company activity.
Seize a smart opportunity.
Traditional point-of-sale systems were not designed to survive this changing world. Businesses of all sizes need a modern payment processing system that can withstand the impact of COVID-19 and other unforeseen challenges down the line. When you find smart technology that can contribute to your company’s success during the global pandemic, seize the opportunity.
ToolBox Payment, or ToolBox, is the point-of-sale solution that provides everything your business needs to simply collect payments. The system operates from a modern app that is FREE to download for smartphone or tablet users. ToolBox was created to help tradespeople and home service contractors facilitate quick and easy transactions. This point-of-sale system does not have any hidden fees (like statement fees, chargeback fees, or “small print” fees), includes live customer service access, and tracks timely billings.