Running a car dealership is not an easy task. Let’s pull back the curtain on the car dealership world for a moment to better understand the challenges faced by car dealership company owners. Between paying suppliers, handling financial partners, and keeping up with recurring lease payments, the financial side of things can quickly become a headache. There is also the pressure of managing large inventory payments, keeping up with insurance premiums, and dealing with the day-to-day operational costs. This blog deals with the challenges faced by car dealership companies when making payments via traditional methods and how ACH can help.
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Make Your Payments Conveniently
With traditional methods, you don’t have the freedom to make payments at your convenience. If you are making payments in person, you have to see whether your payees are available at the time you wish to visit them. Similarly, if you are making payments via money orders, you may have to find the time to visit the post office or retailer to mail it to the recipient. This can disrupt your cash flow and can also affect your ability to efficiently manage your business operations.
One effective alternative to these traditional methods is ACH, one of the most commonly used B2B payment methods. With Zil Money, you can make ACH payments even while sitting at home, enjoying the most convenient and efficient experience. The platform stands out because it is an official member of NACHA, the governing body that regulates the ACH network. The cloud-based platform ensures that your transactions are not only secure but also reliable, giving you peace of mind when making payments.
Make Your Payments Quickly
When you have to make payments to your suppliers, and you prefer only paying by cash, there are a lot of challenges. One among them is time. Managing cash payments requires you to physically go to the bank, withdraw money, and then find a secure way to send it to your suppliers. Sometimes, you may have to go to your supplier personally and make the payment. Altogether, this can waste a lot of your valuable time and create a logistical nightmare. Delays in payment can negatively affect your relationship with suppliers and vendors. Plus, carrying a large amount of money in hand is risky.
The platform’s same-day ACH feature offers a solution to this by delivering your funds within the next business day. With this feature, you can eliminate the limitations of cash payments and reduce the time spent handling manual transactions. For car dealership companies, this is especially beneficial as it ensures that they never miss a payment deadline. In short, the platform allows you to free up time to focus on the growth of your business rather than worrying about payment logistics.
Make Your Payments Cost-Effectively
Making payments via traditional methods like money orders incurs significant transaction fees. Such charges are inclusive and can very fast run into quite a few when dealing with large amounts that your suppliers demand. Such added costs will have a huge impact on the profitability of your car dealership company and, consequently, make it challenging to control both cash flow and budgeting.
With ACH transfers via Zil Money, transaction fees are no longer an issue since they have lower fees compared to other payment methods. In short, ACH transfers will help you avoid high fees that might usually be incurred when using money orders. In addition, since this payment method allows you to remove the necessity of visiting financial institutions or payees, it can also help you save on your travel costs.
Make Recurring Payments Easily
For car dealership companies, managing recurring payments like lease agreements, supplier contracts, or financing options can quickly become overwhelming, especially when relying on traditional payment methods. There is a possibility that the owner may forget the deadline for a particular payment. Also, making the same payment every month by doing the entire process on your own is tiring.
Zil Money’s ACH allows you to set up recurring payments. The platform allows you to schedule regular payments to suppliers, vendors, or service providers and helps you to ensure that each payment is processed on time, every time. The cloud-based platform also eliminates the complexity of tracking multiple recurring payments and saves you time and money in the long run. By automating your recurring payments with the platform, you can focus on your growing dealership and enhance your customer experience.
Conclusion
A car dealership company can conveniently, quickly, and cost-effectively send their payments to suppliers with the ACH feature offered by Zil Money. The ability to automate recurring payments can also significantly benefit them. With the platform, you can avoid late fees and enhance relationships with suppliers and financial partners. In short, car dealership companies can improve their overall business performance by taking a subscription to the cloud-based platform.
