AvidPay Direct Improves Cash Flow For NYC-Based Business Owner
Jeff Gross, co-founder of organic cleaning products manufacturer Organically Maid, has enjoyed a new way to dramatically cut the time it takes to get paid by one of his customers.
After his customer approves a payment for Organically Made, Jeff receives his funds in just three business days via AvidPay Direct, an enhanced direct deposit offering provided by AvidXchange. The three-day turnaround is twice as fast as a year ago when his customer paid him by paper check.
“When I receive a ‘heads-up’ email from AvidXchange that my payment has been approved with detailed remittance data, it’s a great feeling to know my funds will be directly deposited into my account in a few days – much faster than before. I don’t have to worry about being paid using AvidPay Direct. I know it will happen quickly. AvidPay Direct is a set it and forget it system. I don’t have to do anything to receive payments in my bank account.”
Time savings span entire invoice-to-payment process
The time Jeff saves by accepting payments by way of AvidPay Direct extends even further, spanning the entire end-to-end invoice-to-payment process. It takes only 15 days for his customer, who has automated their accounts payable processes with AvidXchange, to receive and approve his invoices and then send payments to Jeff.
Before Jeff’s customer started automating processes using AvidXchange, it would take 30 days for his customer to receive, approve and send his paper check payments.
“I have a pretty small business and cash flow is very important,” he said. “Getting paid in an exceptionally timely fashion truly helps out. I receive my payments much faster using AvidPay Direct than I used to when paid by paper checks.”
Jeff said the time-saving benefits of getting paid by way of AvidPay Direct are complemented by seamless and secure payment deliveries that aren’t nearly as vulnerable as paper checks.
Elaborating further, he said he’s “very satisfied” with the accuracy this automated payment method and the time he now has to pursue business growth. “There’s nothing to be dissatisfied with. Automating payments makes my business run more efficiently and frees me to focus on valuable ways to grow my business.”
He said he’s going to tell his business contacts to use this payment delivery method: “I have no hesitations in recommending AvidPay Direct to other businesses. This payment method delivers valuable efficiencies and all-important faster payments to businesses.”
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