PHILADELPHIA, PA, August 26, 2013 /24-7PressRelease/
-- Entrepreneur Robert J. Finlay
, CEO of R.J. Finlay & Co., a construction and real estate company, is seeing a spike in cash flow technology. Until recently, small and large businesses alike depended on cash and check payments; then credit cards; now online payments. With these innovations, Finlay says small businesses are at an advantage.
According to a recent article on The Guardian, apps and wireless are taking cash flow management to new extremes. Small businesses, it seems, are able to branch out to more customers with multiple payment options, an often business-changing format.
"Every business has to start somewhere," Robert J. Finlay says. "To stabilize a venture, entrepreneurs have to streamline every aspect of their business, whether it's in real estate or antiques. Having flexible payment options opens doors to new customers and reflects the on-the-go attitude modern consumers have. Coupled with virtual storefronts, startups have a lot more opportunity to succeed."
There are downsides to traditional credit cards; for one, banks take low commission percentages that add up over time. Also, businesses with commercial swipers have to pay for the equipment, phone lines, and maintain them. A fitness entrepreneur cited in the article says he utilizes iPhone and iPad credit card readers. Using only wireless Internet or mobile phone connections, these readers allow businesses to take credit cards from more than just a commercial location. Tow truck drivers, food trucks, ma-and-pa antique stores, coffee shops, and virtually every other business model can use these.
Instant payment is a useful thing for small businesses. Swiping credit cards, businesses receive the payment automatically without having to wait for payment. Most importantly, according to the article, businesses with out-of-store events no longer have to haul around expensive credit card readers; instead, employees are trained on how to use company iPads and iPhones.
"It's great that small businesses are using iOS technology to keep up with consumer demand," Robert J. Finlay explains. "Technology has a lot of other applications as well, including online payments, finance management programs, apps, and other things."
For the past decade, online payments have become a reliable way to purchase goods and services online. With virtual powerhouses like Amazon, eBay, and several other online retailers, small business owners can pair up with major marketplaces to ensure safe and reliable payments.
Several startup entrepreneurs are taking advantage of rag-tag storefronts like Etsy, Zibbet, iCraft, and a number of others to market and sell goods directly to customers. Entire businesses are ran online, too, which creates a lot of opportunity for smalltime entrepreneurs who want to focus on products instead of managing storefronts and paying rent and utilities.
"As people become more comfortable with this technology, businesses are realizing that cash is a way of the past," Robert J. Finlay explains.
Though there are always risks with E-transaction, the article says, technology is becoming safer and easier to use every day. Robert J. Finlay is looking forward to see how else small businesses can harness the Internet to increase profit and efficiency.
Robert J. Finlay
, a philanthropist and business leader, is the CEO of R.J. Finlay & Co. The company is a full service real estate, building materials, and construction firm. Throughout his career, Finlay realized the importance of taking advantage of new-age technology to ensure success.