The Benefits of Simplifying Your Business

July 28, 2021
NextPay Editorial Team

The Benefits of Business Simplification

simplifying business processes for small businesses

Did you know that simplifying your business processes is just as important as getting more clients? As per the Wharton School, business simplification is an imperative for companies of all sizes, especially critical for growing small and midsize enterprises. With a lean team and conservative budget, you want to maximize your resources as you reach for greater heights.

What is business simplification? First, we must understand that simplification and improvement are two separate things. Improving processes, operations, or experiences is not simplification. Simplifying your business means cutting off anything that adds extra effort or steps to achieve a result. This means removing unnecessary tasks such as lining up in the banks or manual bookkeeping, more on this later. 

By simplifying, you not only benefit your customers but it also benefits your business and employees. Mary Haskins, vice president of leadership experience at SAP, says that you will experience better customer experience, higher profitability, reduced costs and an increase in employee engagement and retention 

Keeping it Simple

Small businesses should keep things simple

Keeping things simple in the workplace might seem like a challenge, but it can be easy when you have the right tools and people to help. On the business banking end, NextPay’s  streamlined banking solution centralizes and simplifies the management of your growing company’s finances. Through our platform, you can manage your company’s finances all in one place. You can forget about the multiple spreadsheets, lining up in the banks, writing checks, and sending payment requests manually. 

Managing your employees’ salaries and payment to your suppliers can be much more convenient as well. By using NextPay, new employees won’t have to open another bank account when they’re hired. For suppliers, they won’t have to worry about check payments or the bank that you’re using when getting paid. Another cool feature is that your recipients get payment notifications via SMS and email so they don’t have to sit and wonder if the transfer has been made. 

There are other features as well, like sending trackable digital invoices where your customers can pay directly with credit cards, eWallets, or bank transfer as well as downloadable financial reports to make accounting and bookkeeping easier for your team. 

Business Banking Made Easy

Small business banking should be simple and easy

The best part about using NextPay is that you can do all of these financial transactions without leaving your desk. You can  also forget high maintaining balances, strict requirements, or the lengthy waiting times for your transactions to reflect. 

On top of that, we operate on a pay-per-use model, which means you only pay when you make transactions. This can help you if you’re only starting out and operating on a strict financial budget.

Growing a business can be quite a challenge, especially for small businesses. From learning how to increase sales to simplifying your business processes, it takes a lot for a business to become successful. But as long as you have the right tools and people behind you, the journey can become smoother and faster.

"They are a great example of how business tools should serve to simplify your life, not complicate it. With NextPay, from depositing the money into the account, all the way to scheduling and recording my disbursements, my experience with them has been incredibly smooth." - Nas Arcayan of Mothership

We know that you want to  take your business to the next level, that’s why we want to help you keep things simple. Sign up at NextPay to get started. You don’t even have to submit a lot of ridiculous requirements nor do we charge you setup fees. You simply need to create your account, tell us more about your business, and verify your business. Join NextPay today to take your business to the next level. 

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