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10 ways FergusPay will transform your cash flow

Katherine

Content Producer

Credit card payments are a smart Tradie’s most effective cash flow tool. They’re the most effective way to get paid faster and keep your customers happy.

The best part  - they’re as easy as pie to set up thanks to FergusPay. You get all the cash flow benefits of credit card payments with no up-front costs and no red tape to sort through.

Get paid in less than 24 hours

A healthy cash flow begins and ends with getting paid on time, or even better, the same day the job is done. With FergusPay, our customers get 60% of their invoices paid on the same day as they send their invoice.

Strong Supplier relationships

With a healthy cash flow cycle, you’ll be in a position to pay suppliers quick smart. That’s going to go a long way when you need to call in a favour or negotiate discounts.

Avoid costly overdraft fees and high interest rates

Dipping in and out of overdraft when you run into cash flow issues can be costly for any small business. Credit card payments help you get paid faster and mean you’re less likely to have to resort to an overdraft at the end of the month when it comes time to pay all your bills.

No setup fees, no red tape

Setting up a credit card processing service for your business can be costly, time-consuming and filled with red tape. There’s credit checks to go through, paperwork to fill out. Then there’s ongoing monthly service fees. With FergusPay, we’ve taken care of all the necessary paperwork. There’s also no up-front costs or contracts to sign. It’s ready to go whenever you are.

More credibility for your business

Credit card payments can help to legitimise your business and make you appear more professional - important for any small business especially if you’re just starting out.

Win new customers

Advertising that you take credit card payments could be the difference between getting asked to quote for a job or not. Why? Potential customers may not only prefer to pay by credit card, they may need to. After all, if you need a job done desperately but don’t have the money ready and waiting to go, you’re going to choose a Tradie who takes credit card over one that doesn’t.

Keep existing customers happy

Did you know 69.3% of all consumer purchases in New Zealand and Australia are paid by credit card? Most people now prefer to pay by plastic because they can earn loyalty points and get cash-back. It’s also much easier to pay by card compared with bank transfer. With FergusPay, your customer can open your invoice and pay by credit card in no time at all.

Avoid chasing late payments

The best part of having an easy, simple way for your customers to pay you - you’re less likely to be chasing overdue invoices. Save yourself the added admin and sleepless nights by making it much easier for your customers to pay you as soon as they receive your invoice.

Funds appear in your account overnight

With FergusPay, you won’t have to wait long for your payments to appear in your account. In fact, your money will be available to you within 24 hours.

Streamlined payment reconciliation

Invoices paid via FergusPay will automatically reconcile in your preferred accounting software package, making it a touch-free solution for managing your payments.

For more on FergusPay, hear form Plumber Andrew Smith about how credit card payments are helping his new business thrive.

If you’re not already with Fergus but would like to take advantage of FergusPay, sign up for a free trial now.

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