Chen’s Journey to Growth with PAYMENT

29.11.2023

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Not long ago, I closed a deal with a client who insisted on paying by checks. I’m not a huge fan of this method, but in a slowing economy, I can’t afford to turn away business. Although the process was supposed to take 3 months, I agreed to accept 10 checks, each worth ₪1,500. Indeed, the checks were processed smoothly each month for the first 4 months.

The fifth check bounced, and now I find myself with six checks to collect from a client who has already completed their service with me. Beyond the financial loss I’ve incurred, this entire situation has drained me completely. I’m here to focus on sales and business growth, not on chasing overdue payments.

At this point, I made a decision – no more payments by check, only by credit card or through PAYMENТ. For most clients who prefer not to use a credit card and risk maxing out their limit, PAYMENТ has become the preferred solution. The system I developed with PAYMENТ has allowed me, as a business, to stop dealing with collections and risk management, and to focus purely on growth.

When you have positive cash flow (thanks to PAYMENT’s immediate fund transfers) and zero collection risks, the path to boosting sales and profit becomes significantly shorter. Last year, we ended with a profit of ₪400,000, this year, we reached a profit of ₪650,000! I don’t know many businesses that can make such a claim. I give myself a lot of credit, but a substantial part of this achievement goes to PAYMENT and their innovative solution.

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