The Innovation Game

The Innovation Game

Payment Solutions to Challenges Faced by Trade and Wholesalers

How can innovative payment solutions reduce risk and costs?

When we say that businesses are struggling with inflated costs, we aren’t telling you anything that you don’t already know.

It is likely that you are facing many of those costs yourself.

The picture of high costs is applicable to all sectors. But businesses belonging to the trade and wholesale sector are also facing reduced footfall as clients recognise that consumers will be tightening their belts in response to economic downturn.

There are fewer opportunities to pass on your increased costs.

Instead, you should – if you haven’t already done so – undertake a forensic analysis of your spending.

  • Are your resources being directed to the most effective areas?
  • Are you as efficient as possible?
  • Are there any specific opportunities to get ahead of your competitors?

Addressing those questions, many companies race to their office consumables, energy tariffs and waste management, finding significant savings in their biggest areas of spend.

With this document we are recommending that you take that enthusiasm and address your banking and payments.

It is an area of spend that is often overlooked, but – due to the rapid advances in the world of fintech – it is also one that can reap impressive rewards.

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The way that your business takes payments should not be set in stone. To make sure you’re taking advantage of the latest technologies and not getting caught out by newly introduced legislation and unforeseen charges, talk to ERA’s payments team today.

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"The picture of high costs is applicable to all sectors. But businesses belonging to the trade and wholesale sector are also facing reduced footfall as clients recognise that consumers will be tightening their belts in response to economic downturn."

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