As we mentioned recently in this blog, you can't rely on all of your customers going online to buy items and make payments. A number of both consumers and business procurement specialists are skeptical of online shopping and they are wary of putting their information out there in a virtual environment. While it's true eCommerce may one day be the only option consumers will have and you could have to implement strategies to ensure they buy from your eCommerce site, the question now is, what do you do in the interim?
Today, processing all B2B payments online won't allow you to assist the wide range of your customers. Procurement specialists who either aren't as savvy with online tools or prefer traditional methods need to be accounted for, because if you don't you run the risk of losing their business. There are many tools that can still assist with traditional transactions and merchants must be able to offer a suite of options if they are to accommodate a diverse range of customers.
Many organizations prefer to mail checks to pay for goods and services. Yes, they are far less prevalent today than they were maybe 10 or 15 years ago, but they are still a very big part of B2B transactions. While checks represent an outdated line of thinking, that doesn't mean they can't be processed with innovative technology. Lockbox is an efficient, cost effective way to process checks quickly while maintaining a high level of security. One day we could all be paying via eCommerce, but until then, having options like this at your disposal will allow you to satisfy all your customers.