We know it's not always easy running a small business. As a small Australian business with over 5000 clients, our clients continually tell us the following:
- that they are short on time
- that cash flow is always tight and that they are getting squeezed by payment terms by larger businesses
- that digital fraud is increasing, and
- that their traditional rewards are diminishing
Our purpose in launching Yak Pay is to provide a platform and service to our clients that helps them make B2B payments in a way that eases some of the pressures of running their business.
Greater Time Saving
- Using Yak Pay our clients can use their stored credit card to make hundreds of payments in seconds. This saves countless hours for the card holder as they would otherwise have to make each payment individually via different website, telephone conversation or face-to-face transactions.
- Our clients can access the platform 24/7 and make payments when they want and on whatever device they like. They can schedule payments and set recurring options to save even more time.
- Yak Pay works well with all accounting systems and is able to accept batch files for payee set-up and multiple payments.
- Yak Pay is deeply integrated with Xero enabling even quicker set-up, payment processing and reconciling.
Improved Cash Flow
- By making credit card payments even easier, our clients can optimise their non secure credit offered by their banking partner(s).
- At 1% + GST (Visa preferred rate), the platform is a very competitive option utilising non secure credit as a working capital solution.
- Using Yak Pay and their non secure credit limits, our clients can negotiate early payment discounts with their larger suppliers, an important tool which improves their negotiating power of the small business.
- Having the ability to schedule payment dates, reminders and alerts, our clients can best manage their payments to the day without accidentally missing or overlooking due payments or key terms.
- Yak Pay helps our clients earn the reward points on offer to them from their card scheme or bank.
There is still a lot more to do, and as part of our commitment to continuous improvement we're locking it in. We know that Yak Pay is offering our clients an opportunity to better run their business by saving them time, improving cash flow, reducing risk and then earning some well deserved rewards.