How you can tackle the most common cause of business failure

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It’s no longer enough to sell your wares through just one channel. The modern consumer is proactive, searching for what they want, when and where they need it. To reach them, you need to be selling where they are – online, in store and on-the-go. And you need a simple way to keep on top of all of this.

Juggling payments, receivables and out-goings, is one of the biggest obstacles faced by business. It requires time and effort which is sometimes unavailable or that could often be better used in other areas. And if business finances aren’t handled properly, it can spell the end – poor cash flow management is one of the most common causes of business failure.

The benefits of having one financial services provider was felt by Adventure World, the premier Theme Park in Western Australia. Adventure World were experiencing challenges on busy days because its payment terminals couldn’t process orders quick enough. After Bankwest’s terminals were installed throughout the park – equipped with Pay Pass – queues moved quicker, staff efficiencies increased and the speed of service had a positive influence on customer satisfaction.

Bankwest’s Business Merchant Solutions provides a way to accept payment through a variety of channels. With Business Merchant Solutions you can choose to take payment at the counter with Eftpos and Paypass, on-the-go with Eftpos Mobile, and online or over the phone using BPoint. Settlement is fast, secure, and straight into your Bankwest Business Transaction Account, where you can access it online and have the ability to interpret the cash flow trends of your business.

Having a quick and simple way to pull payments from many sources, and view them all in one place, can help you get on top of your business’ finances. It also allows you to spend more time running your business, not managing your banking.

Suitable for a range of businesses, from cafes through to hotels and supermarkets, Bankwest’s Business Merchant Solutions are priced depending on what you need. Find out more about how Bankwest Business Merchant Solutions can help your business here.

Important things you should know: Fees and charges apply. Terms and conditions apply and are available on request. Any advice given is of a general nature only and is not based on any consideration of your objectives, financial situation or needs. You should consider the Product Disclosure Statement (PDS) and whether the product is right for you. A PDS is available from bankwest.com.au or by calling 13 7000. Bankwest, a division of Commonwealth Bank of Australia ABN 48 123 123 124 AFSL/Australian credit licence 234945.

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