7 tools to free up more time for your business

Time is money—especially when you run your own business! Anything that saves you time and gives you peace of mind can make a difference. Here are 7 ways to help you save time.

Updated August 3, 2021

1. Online management of accounts receivable

Do you receive multiple payments from clients? You can save time and be efficient by using direct withdrawal to collect the money due from your clients’ accounts. Say goodbye to getting cheques in the mail and all the related hassles. With direct withdrawals, you get your payments sooner and your clients don’t have to worry about missing a deadline—it’s win-win!

2. Online payment of bills and accounts payable

This can help you better manage your accounts payable and reduce cheque issuance costs. And with a detailed transaction history, you can rest assured that your bills have been paid. By scheduling these operations ahead of time, you can avoid late payments and penalties and simplify your day-to-day operations.

3. Interac e-Transfer®

Interac e-Transfer is a quick, easy and convenient way to accept payments from your clients or pay your suppliers. The funds are available within minutes of the payment, and you can use this feature at any time. This reduces the risk of late or defaulted payments that are associated with cheques. Interac e-Transfer is secure and confidential.

4. Payroll management

Payroll management is a time-consuming task—you have to take into account so many regulatory requirements and other factors. You can improve your productivity and gain peace of mind by outsourcing this task so you can focus on more profitable ones!

5. Government remittances

Running your own business comes with a number of tax requirements. Some great tools are available to manage these requirements efficiently. The advantages include data security and confidentiality, peace of mind knowing your payments will be made on time, quicker reimbursements and ease of use.

6. Management of cash and financial transactions

Cash and financial transaction management tools that are available from your computer or mobile device are your friends: they help you see the big picture. You can use them to:

  • Verify your accounts and transactions
  • Pay your suppliers
  • Make government remittances and claims
  • Sign up for online statements
  • Or view key information about your business operations.

Plus, they’re available in a flexible, secure environment.

7. Payment solutions

These days, hardly anyone uses cash—it’s been replaced by Interac direct payments, credit card payments, mobile solutions and more. The wide variety of payment options available makes things easier for both you and your clients. Plus, these payment solutions give your business a modern touch, help you reach your growth targets and lower your operating costs!

Other features that can help you manage your day-to-day operations:

  • Mobile deposit and Remote Deposit Capture
  • Online account and credit card statements
  • Search function for transactions posted to your account
  • Management report
  • Delegation of access rights to other users
  • Stop payment
  • International transfers
  • E-signature

® The Interac logo and Interac e-Transfer are registered trademarks of Interac Corp. Used under licence.

If you’re interested in this type of support for your business, or just have questions, contact a Desjardins Business advisor.

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