Look around and check if you have…Untended Payment Tasks!
You did it! You assigned everything to someone or built a home for it’s care and feeding! You’re done! It’s all riding on a beautiful carousel – Yes? Time to look around and check.
🔥 Merchants commonly negotiate their contracts strongly, watch their fee ratios carefully, and benchmark their expenses to exert control over their costs.
💧 Merchants do not always exert that same layered effort to reconciling payments banked to sales initiated. Accounting handles that…
Is there expense leakage in your payments ecosystem due to payment delays, mis-postings, FX buffer fees not usually detailed in the Fee Schedule, and time expended by Accounting staff to ‘get pretty close’?
Can those finance professionals easily recognize and action variations when they arise or are they considered a write-off or timing issues?
How about that last mile? And Reconciliation is not the only hand off. Let’s take a minute or two to look at all the transition points between Payments and other departments to see if your hard earned expertise could add value that those teams could benefit from. Want to enhance those transitions? We’re here to help!