What are your New Year's resolutions? Everybody has at least something they want to change with the calendar. Maybe it's working out more or eliminating a vice like smoking or fast food. Either way, we all take the new year as an opportunity to change something for the better. So do businesses.
From the smallest mom-and-pops to behemoths like Disney and Apple, every company knows it can make positive changes. There is no better time to make those changes than the beginning of a new year. This is when executives plan out their strategies, implement any new policies or operational procedures and design their budgets. It is here where the idea to invest in new solutions to improve business is discussed and decided upon.
For example, a B2B vendor may want to finally offer e-commerce as a sales option in 2013. This would require the procurement of specific tools such as an e-commerce shopping cart or payment solutions for secure checkout. As this blog has mentioned in the past, an increasingly high number of procurement specialists prefer B2C-based e-commerce options for business purchases and this may be the year for vendors to comply with those requests.
Reducing costs is another popular resolution in the business environment. Some vendors may be spending too much on payment processing fees, thus limiting their earnings potential. To increase profits, it would be wise to implement the ability to process p card payments with level 3 data, as this can drastically reduce processing fees.
Ultimately, saving money to increase net profits should be the goal of every vendor in 2013. By working with a B2B payments provider, companies can acquire the right solutions that improve processes and offer a strong return on investment.
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