How to pay all your vendors in one place
There are so many perks that come along with being a small business owner. Take for instance being your own boss, setting your own hours, doing what you love, and pouring your passion into something you wholeheartedly believe in.
But it doesn’t always come easy, to say the least. Limited resources, lack of capital, competing with larger, more established companies, and burnout are some of the mountains small business owners need to regularly climb. Add multiple bills and invoices that constantly come at you from different directions and you’re in for a bumpy ride.
Outdated ways of paying bills
Keeping track of bills and payments can indeed be a hassle, especially if you have multiple billers to pay each month. Let’s say you need to pay your phone, water, and internet bills. You sit down at your computer and open your web browser. You go to Verizon, open another tab and go to California Water Service, and then another tab for your AT&T bill. You would need to add your payment and billing details and make a payment on each respective site.
You’d then need to repeat all those steps the following month, and also juggle not forgetting the due dates so you don’t get dinged with any late fees or penalties. It goes without saying that this is a really inefficient and complex way to pay your bills.
Another way to manage your bill payBill payBill pay refers to the process of paying bills, such as rent, utilities, or credit card payments, through an online or mobile payment service. is automatically debiting the amounts due from your checking account. While you won’t miss due dates, it’ll still be challenging to have an accurate overview of money flowing in and out of your business. This makes it harder to calculate your cash flow and see the bigger picture at any given time.
A platform custom-built for small businesses
Fortunately, there’s a third option, and it’s called Melio. Melio is a payment solution built with small businesses front of mind. Melio makes it easier to efficiently pay, track, and manage all of your bills in one place.
Paying all of your business bills in one place helps you:
- Keep track of payments in one central location rather than having to log into multiple websites, manage different logins, or juggle several due dates.
- Stay organized and avoid late fees or missed payments.
- Schedule automatic recurring payments for bills that are due at the same time each month, like rent or utility bills.
- Have a more accurate overview of your cash flow as you can easily track all money flowing in and flowing out anytime you want.
Turning to online bill payment platforms
Paying business bills can be a tedious and time-consuming task, especially if you have multiple billers to keep track of. It can be easy to miss a payment or forget when a bill is due, leading to late fees, added stress, and administrative headaches. That’s why more and more people are turning to online payment platforms like Melio to simplify their payment processes and buy them back time to reinvest in their businesses. Learn more about our top billers today.