Upgrading payment systems is trending in 2021. While this may sound boring, the truth is that improving and digitizing your own payment systems can bring surprisingly big benefits to your organization.
A modern payment system has a wide range of use cases and benefits due to its versatility and efficiency. For example, do you have a rebate program? We know many organizations experience frustration with the manual nature and slow speed of rebate processing. A payout platform, like MI Funds, can make that automatic and add many features that seemed out of reach before; such as promotions, tracking, updates, communications, and more.
Even more powerful results can be realized by transitioning your Sales claiming process onto a platform like MI Funds. In addition to the above, you can add rewards and redemption tools that further incentivize your teams and drive greater engagement and profits!
Although it’s easy to get overwhelmed by the possibilities, getting started on a platform like MI Funds is a quick, low effort process. So whether it’s simple reimbursements or the need to collect an array of claim information, a platform is a great way to go.
Sending money on MI Funds to clients, customers, and employees can improve convenience, reduce errors, speed up processing, and save money on handling and postage. It’s also more environmentally friendly than printing, while allowing for virtual and global payments.
Additionally, modern payment systems are more secure. Virtual communications are increasingly common due to the workforce shift, which also means that personal information is being submitted digitally with more people completing transactions online. What does this mean for you or your company? It is vital to have a system that is secure and protected.
Furthermore, if you’re working with different clients globally, a well-rounded payout platform can provide fast turnaround time across the globe with the ability to track a payment and search and review historical data.
Adaptability is another key characteristic that increases by having a payout platform. Many companies are hiring contractors because the economy and different industries are in transition. Payout platforms make hiring part-time employees easy, seamless, and smooth. Considering the world is still in flux, hiring contractors is on the rise and might be a trend that lasts for a long time.
Altogether, payout platforms provide a range of benefits and use cases. They can be used in various industries as an internal or client facing tool. Contact a Marketing Innovators specialist if you’re interested in learning more or have a use case that we can help you with. We’re here to provide a technology that your rockstar employees will enjoy using that makes their job easier.