In this sarcastic soliloquy, we will un-pack how silly it is for your MSP not to use such a beneficial method of collecting payments, such as ACH, from your IT clients.
So, enjoy part 2 of our 4 part series about how your IT company can get paid on time, every time, when using ACH.
Reason 1: You thrive on unpredictability.
Let the other MSP companies get paid on time, every time. That sort of reliability isn’t for you. Why would you want the convenience of having funds electronically transferred from your customer’s bank account to yours on the date they are due? You thrive on the anticipation of waiting by your mailbox for checks to arrive.
Reason 2: You like paying credit card fees.
Sure, you could take ACH payments and pay a flat rate of around $0.35 per transaction, but what about those poor credit card companies who depend on receiving your 3-5% (or more)? And paper checks are free, right? Well, unless you count the cost of manual processing…
Reason 3: You prefer slow, manual processes.
Let other MSPs enjoy the convenience of “set it and forget it” payments. You like handling paper checks, and manually processing credit card payments. Putting in the extra man-hours is a joy and your accounting team is super human, so you never have to worry about them making a mistake.
Reason 4: You couldn’t care less about security.
You thrive on the risk of potential identity theft and fraud as you manually take down credit card information by phone or handle paper checks (which have your customer’s personal information, account and routing numbers printed right on them). Why would you want funds transferred securely through a process governed by NACHA (National Automated Clearing House Association) and monitored by Federal Reserve?
Stay tuned for part three in our educational series on ACH, where we’ll explore some of the drawbacks to ACH and how to counteract them.
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