If you manage finances for a small business, you are likely no stranger to manual processes like paper checks. You also probably know there has got to be a better way to send and receive payments. The good news is that there really is a way—you can start paying your vendors online with a digital bill pay tool like Melio. Even better? It’s free and only takes a few minutes to set up.
Let’s talk about apps, baby
Try to remember the last time you cut a personal check. It could have been to your landlord, to a plumber, or to a friend who paid for dinner one too many times when you left your wallet at home. Regardless of who the check was written out to, there’s one thing we’re fairly certain of—it was probably a pretty long time ago.
Ever since mobile payment apps came into our lives over a decade ago, we’ve all grown accustomed to making instant, safe, and reliable payments right from our phones. We use these apps to pay friends and family as well as various professionals in just a few seconds.
To pay a business bill, on the other hand, you’re still likely going into your back office and cutting a check. You’re not alone in this. While the use of business checks is in constant decline, it’s still among the most common business-to-business (B2B) payment methods. In the second quarter of 2021, 930 million commercial checks were collected through the Federal Reserve System, with a daily average value of $36.1 billion.
Wouldn’t it be better if you could just handle all your business payments online?
You probably have a million reasons why you haven’t already made the shift to online payments. So, let’s take a few minutes to go over the possible objections you may have and rule them out one by one.
Objection #1: “My vendor will never go for this”
News flash: They don’t even need to know. When you use a bill payment system like Melio, nothing changes for your vendor—they don’t have to sign up or do anything else to receive their money.
Objection #2: “My vendor only accepts checks”
That’s not a problem. You can still use Melio to pay whichever way you choose (ACH, credit card, or debit), and we’ll send your vendor a check, same as if you were the one mailing it.
Objection #3: “I’m not sure it’s safe”
Our partners—major banks and credit card companies—think it is. Managing your accounts payable (AP) online is safer than traditional methods. Digital payments don’t get lost or stolen on the way, and you always have a clear record of them right in your inbox. You can also follow up on their status just by logging in to your account.
Melio implements strict security protocols and encryptions so that the funds arrive safely to your vendors while mitigating any associated risks.
Objection #4: “I’m not very tech-savvy”
You don’t have to be. Sending a payment online is almost as easy as texting. If you know how to operate the most basic functions of a computer or mobile phone, you should be good to go.
If you do run into technical difficulties, you can always check out our help center.
Objection #5: “I don’t have the resources to spend on training”
The great thing about software-as-a-service (SaaS) products like Melio is that they are super simple to use and require no special training. Familiarizing yourself and your team with the interface shouldn’t take more than a few minutes.
Objection #6: “I’m overwhelmed as it is”
We get that business owners like you are extremely busy people, and that’s why we engineered Melio to save not only money but time.
In fact, Melio users often report that by paying their vendors online, they save hours every week and cut down time spent on payments by 50%. Those are priceless hours you can spend with your loved ones, growing your business, or just taking some well-needed me time.
Objection #7: “It’s probably expensive”
Using Melio to send and receive standard payments is absolutely free. There are no sign-up or subscription fees, and we only charge for paying with a credit card, sending international payments, and some express payment options. Oh, and our fees are also tax-deductible.
Objection #8: “I don’t see the benefits”
Is saving time and money, avoiding late fees by scheduling payments in advance, and maintaining good relationships with vendors enough for you, or should we go on?
Start paying vendors online
Now that you know just how simple it can be to make smart and efficient B2B payments online, let’s get started.
Just sign up to Melio—it only takes a few minutes—add your invoice and payment details and schedule your first payment. We'll do the rest.
*This blog post is intended for informational purposes only and is not intended as financial advice.
**Melio does not provide legal, tax or accounting advice, and you should consult with a professional advisor before making any financial decisions.