Is your business struggling to increase profits? Have you tried cutting costs yet the generated revenue is still the same with the profits stagnating?
Innovating and improving your business efficiently could be your answer. While large corporates have the luxury of investing technology, research and development, to find more innovative ways to run their business, the small and micro enterprises don’t have that leeway. To help you figure it out, Safaricom has created a solution for SMEs which lack the resources to improve efficiency.
The innovative M-Pesa solutions by Safaricom are helping small and medium enterprises not only run businesses efficiently but to have more transparency in their finances using the Safaricom for business service. Businesses with the MPESA till number can now do more thanks to the new MPESA for business app.
Here are 9 amazing things Mpesa till number can help you improve your business.
- 1 Micro-lenders lose a million deposit accounts in a year
- 2 Pandemic spurs Africa's mobile telcos to ramp up banking bid
- 3 The dying wallet amid contactless payment
- 4 MPESA services restored, Safaricom says
Managing multiple suppliers can be very time consuming especially if each supplier has their own preferred method of payment. However, with the Safaricom for business app, business owners can now pay multiple suppliers on one platform. This helps align your finances and books making it so much easier to follow up on your payments.
Most SME’s do not have fully operational payroll departments; this task is often left to the business owner. The MPESA for business app has a central point which not only combines the HR function but also the payroll function which makes it easy for the owner to manage the payroll to ensure that the entire staff is sorted.
Generate reports and have visibility of cash flow
As a business owner, it is important to have access to all the information of your cash flow as well as generate reports for your business. This not only gives you an easy view of the business but also allows you to check your statement anytime anywhere. Definitely an amazing asset when you have to pitch to potential clients.
Move funds across businesses without stress
Business to Business relationships can move your company to the next level. Safaricom Business allows you to swiftly and efficiently move money across businesses and achieve your goals.
Pay utility bills directly from the till account
So amazing is this service that you as an owner can be able to pay electricity, water, rent or any other utility bills from the convenience of your phone. This not only makes your work easier; it ensures you don’t miss the deadlines for payment.
Withdraw from the till from an M-Pesa agent
With customers paying directly to your till, Safaricom Business makes it easier for you to withdraw your earnings by visiting any Mpesa agent. This not only gives you more liquidity but also allows you to get money to reinvest into your business without having to line up in a banking hall.
Generate more revenue by being an airtime vendor
As times get harder, you can increase your revenue by selling airtime off your till number and earn commissions off of it. How’s that for a secondary source of revenue!
Minimize cash handling during the corona period
It goes without saying that when customers pay via till number you minimize the number of times you come into contact with cash and the possibilities of getting the virus.