Accounting software
A game-changer for growing merchants is access to accounting software , which bc data singapore automates your bookkeeping and paperwork for payroll, payments, and more. It takes the pressure off of trying to be an accounting expert, so you can focus on other areas of your business.
The main advantages of accounting software are:
Access via the web
Automate daily administrative tasks to save time and ensure data quality
Save money in the long run with better financial transactions
Direct integration with your marketplace or e-commerce platforms
If you're not already using an accounting system, check out some of the best cloud-based accounting software for online merchants:
Consumers use peer-to-peer (P2P) payment systems on a daily basis. These are digital wallets like Venmo and Paypal that allow you to easily send and receive money from family and friends.
From Q1 2017 to Q1 2018, Venmo has increased its total payments volume from $6.8 billion to $21 billion.
In e-commerce, it is always about staying on top of the wants and needs of consumers. That is why these P2P payment systems are making their way to checkout pages.
PayPal and Venmo make online shopping even more convenient. It can reduce card abandonment and increase sales.
Unlike credit cards, users don't have to pull out a card to pay. It's as simple as logging into your PayPal account to complete your purchase.
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Expense management
Businesses rely on credit cards to manage their expenses. They are also a great way to accumulate rewards points to use on marketing ads, inventory, or other areas of your business.
The problem is that conventional credit cards are often not enough for online merchants. There are fees, low credit limits, and you don't get rewards for the kind of routine purchases you make. There's nothing worse than maxing out your credit card when you need to make purchases to keep your business running smoothly.
