Blog

December 18th, 2014

SocialMedia_Dec15_AWhen working with social media in your business there are a number of metrics commonly used to determine whether the content you create and share is effective. One of the best metrics to employ is the number of shares each piece of content receives. More shares usually means higher visibility and therefore a greater impact. However, many businesses struggle to get their content shared. Here's four reasons why.

1. The vast majority of people are hesitant to share content

According to a study conducted by Carnegie Mellon University and Facebook over a 17 day period, approximately 15.3 billion comments and posts were written but were then deleted and not posted on Facebook alone.

While the reasons will have been varied, the numbers highlight that the vast majority of users are sensitive to what they post on Facebook, and most most likely other networks as well. What does this mean for businesses? Well, you need to ensure that the content you are posting offers value to not only your audience, but their audience as well.

Think about when you have shared content on any network. You probably didn't do so 100% for yourself, but instead shared the content or created a post so your audience would interact with it, or possibly get something out of it. Think of this as the "hmm, that's interesting, other people will like it too, so I'll post it" mentality. By sharing content others enjoy or respond to you get the benefit of increased recognition.

If you can create content that gets people to think this way, there is an increased chance that they will share it.

2. Facebook users want to be seen in a positive light

According to a study carried out by INC. 80% of respondents share content because it shows that they are being a good friend to those they care about. People use social media to foster good relationships and connect with those they care about. And if somebody regards your posts as potentially able to tarnish their image on social media, they won't share it.

Businesses looking to capitalize on this need to try to create content and campaigns that help users better relate to one another. Combine this with the above example of creating interesting-to-share content and you will be more likely to see an increase in shares.

3. Content doesn't fit our salient identities

Because social media has become an extension of society, many experts apply common social science principles to it. The most commonly applied theory is of the five identities (relational, personal, social, superficial, and collective) that determine how people behave in a certain situation.

If you are posting content that doesn't fit with an an individual's current identity then it's not going to be shared. So, how can businesses capitalize on these changing identifies? One effective way is to get to know your main target audience; how they act and react to certain social cues, and then create content to fit with this behavior.

For example, if your target group for posts is parents, then using language and content that triggers parental instincts could increase shares as parents associate better with it.

You might want to widen your focus too and try developing content that capitalizes on different identities, tracking what works best.

4. Content doesn't mesh with a user's values and goals

The same INC. study found that after being a good friend, 63% of users surveyed noted that they were more likely to share content that reflected their goals, values, and dreams.

How can a business capitalize on this? The best way is to get to know your audience. Look at their posting and sharing habits and the type of content they share on a regular basis. This may change over time, but you will see patterns evolve for different groups. If you can develop and post content that reflects these main goals and values then you are more likely to see your content being shared. Try different approaches and keep in mind who you are developing content for.

If you are looking to learn more about social media, contact us today to see how our systems can help you integrate it with your business success.

Published with permission from TechAdvisory.org. Source.

Topic Social Media
December 11th, 2014

BusinessValue_Dec11_AThe holiday season can be stressful and expensive for everyone, employees and business owners alike. While it is great to start a new year, it can be tough to justify or find the funds for new expenses, even if there is a real need. Instead, you may want to look for cost saving tools that can help improve business operations for less. To help, here are five free or affordable tools that can make your business life easier.

  1. Canva If you are a business owner, chances are that you aren't the world's best graphic designer, unless you run a graphics company of course! In order to design graphics, icons, flyers, and even posters you need specific graphics software. This can be expensive and the software is not going to be easy to use for design novices. You may even need an in-house graphic designer. This is where Canva comes in.

Canva is an online app that allows users to quickly and easily create professional looking graphics using drag and drop functionality and a wealth of free, or affordable, stock images. In other words, you can create designs in a short amount of time.

The service itself is free, but some images do need to be purchased.

  1. FreshBooks Most business owners are not certified accountants either, and even if you understand the basics of accounting and tracking of finances, the money side of your business is often a full time or at least a specialized job. If not handled correctly, this could spell disaster for your business. One solution is cloud-based FreshBooks.

FreshBooks is accounting software that allows you to invoice clients, track payments, accept payments, track expenses, and access financial reports at the click of a button. Beyond this, you can connect FreshBooks with your payroll services to ensure that your employees are paid on time.

The platform offers a free plan that allows you to track and manage one client, while paid subscriptions start at USD 19.95 a month.

  1. Hootsuite Many businesses have a presence on more than one social media network. While this is a great way to reach out to the highest number of customers, it can be a chore to manage and maintain a presence on all of these networks all of the time. Hootsuite is specifically aimed at this task.

Hootsuite is a tool that allows you to manage your social media accounts from one platform. Using Hootsuite you can schedule posts, set up streams, establish keyword tracking, and track engagement. It really is a one-stop-shop for all of your social media platforms.

Hootsuite offers a free subscription which allows you to manage three social media profiles, while a business subscription starts at USD 8.99 and allows you to track up to 50 profiles and gives you access to more advanced analytics and features.

  1. Podio Managing projects and ensuring that all employees are aware of what they should be doing, and what others are doing, can be one of the toughest tasks for any business owner. Sure, spreadsheets and communication work to a point, but there is always room for error and of course improvement, which is what Podio provides.

Podio is a project management app that allows you to easily manage projects, tasks, deadlines, and even files. Using an intuitive dashboard that all users have access to, employees and managers can easily see who is doing what, as well as what needs to be done and what has already been done.

Podio is free with limited features for five users and costs USD 9 per user, per month for the full subscription plan.

  1. CoSchedule If you have a blog, either on WordPress or hosted by WordPress, sharing the articles you post on your social media profiles is a great way to increase content reach and interaction. However, it can be time consuming to actually create posts on each different platform, unless you use CoSchedule.

With CoSchedule you can write your social media posts for a blog article and schedule them to be posted once the article goes live. Think of it as automating the sharing of your blog articles. This will save you time, while making it easier to manage your content, largely because the calendar included in CoSchedule is easy to work with and gives you a good view of your content.

CoSchedule is USD 10 per month, per blog.

If you are looking for more affordable ways to improve your business operations, contact us today to see what boost we can offer you at a price you can afford in 2015.

Published with permission from TechAdvisory.org. Source.

November 19th, 2014

SocialMedia_Nov17_AMany business owners looking to launch, or expand their social media presence, quickly find out that only interacting with one platform is not the best strategy. Instead, they branch out, join all the major platforms and quickly find that each is vastly different and can be a challenge to master. For those using Twitter, here are 10 best practices that can help you get the most out of it.

  1. Keep posts on the shorter side - This may seem ridiculous, after all there are only 140 characters allowed per tweet, but keeping tweets short allows users to add their own comments and ideas when they retweet. Try keeping your tweets below 100 characters.
  2. Twitter is not about promotion - Studies have proven that tweets that promote a company or product don't usually do as well as messages that are more conversational in nature. If you want to ensure maximum interaction, aim for a mixture of tweets that consists of about 80% conversational and 20% promotional.
  3. Know what time to tweet - Each market is different, so take the time to research tweeting habits. If you see that the majority of your target audience is active during after-work hours, then it would make sense to tweet when they are more likely to be online. Remember, many Twitter users are connecting via their mobile devices, so you are probably better off tweeting during lunch hours, as well as pre- and post-work.
  4. Know what days to tweet - Much like knowing what time to tweet, it is a good idea to also know which days are best to tweet in order to maximize engagement. For example, if you are trying to interact more with other businesses (B2B) then it is best to tweet on days when the companies are open and an owner or manager is more likely to be looking at business systems and social accounts. Customers, however, are usually more receptive to messages on days when they aren't working e.g., Saturday and Sunday.
  5. Use hashtags - Hashtags in Twitter allow for categorization and make tweets searchable. For example, if you use the hashtag #fresh in a tweet and then search for 'fresh' on Twitter, you should see similar posts using the same hashtag.
  6. Use hashtags sparingly - There is a common trend in social media to use hashtags for nearly every word. This makes posts difficult to read and usually leads to people not sharing or retweeting your content. Instead, try to work one to three hashtag, at most, into your tweets naturally.
  7. Realize Twitter moves fast - The average trend on Twitter lasts about one hour, to one day. So, if you see a trend developing or beginning, act quick to join the conversation. Posting after the trend has faded will usually lead to tweets being ignored.
  8. Don't act on every trend - Trends come and go so quickly on Twitter that it can be tempting to try to jump on each one, or as many as possible, in order to get your message out to as many people as possible. However, not every style and subject will be relevant to your business. By shoehorning content to fit trends you could come across as insincere and lose interest from followers.
  9. Watch who you follow - Following people is one of the quickest ways to grow your own follower base - usually because users will follow those who follow them. But, when it come to business, you want to be sure to follow users who are relevant. For example, follow your customers, strategic partners, and even competitors. Following Twitter users who aren't relevant to your business is not going to get your messages read by the right people.
  10. Keep an eye on Twitter - In order to effectively spot trends and see what your target market is saying, it is worthwhile to use a program like Tweetdeck, which allows you to see all tweets, track hashtags, topics, and more.
If you would like to learn more about using Twitter in your business, contact us today to see how our services and solutions can boost your social media presence.
Published with permission from TechAdvisory.org. Source.

Topic Social Media
November 12th, 2014

BusinessValue_Nov10_ACommunication is a vital part of business. While customers certainly appreciate digital systems like email and chat, there are times when simply talking to someone is preferable. Because of this, and the fact that many businesses will always have customers who prefer to talk, most businesses do need a phone system. The question is: How do you find the right one for your business?

1. Know the types of systems out there

Phone systems, as with many other types of technology, have evolved and changed drastically from the traditional phones that we are all familiar with. As a result, it pays to be aware of the four main types of phone systems available for small to medium businesses:
  • Key systems - These systems are commonly found in many older small businesses as they were designed for up to 40 users. Typically, a Key system offers businesses basic features like hold, line switching, line management, etc.
  • PBX - Private Branch Exchange, is private phone networking technology that enables businesses to manage up to hundreds of phone lines and numbers. PBX is usually employed by larger businesses who need multiple phone lines and the ability to network offices together.
  • Hosted PBX - These are PBX systems that are managed and hosted by a provider. The system itself is usually housed offsite, which means less up-front investment for the company.
  • Centrex - These are specific business features and packages developed for your business by a major telecommunications provider which are usually added onto your monthly phone bill.
Generally speaking, these four types of phone systems are available in two ways:
  1. Analog - Traditional landline phone systems offered by phone companies, commonly referred to as PSTN (Public Switched Telephone Network). Analog is familiar to many business owners as it uses existing lines strung by telephone companies.
  2. Digital - Newer phone systems that use network connections to transmit voice communication. The most common of these systems is VoIP (Voice over Internet Protocol).
While there are four main systems, the increasingly popular adoption of digital systems like VoIP has led to Key and PBX systems essentially merging together into one platform. Some providers however do offer scaled down versions of PBX over network connections that they refer to as Key systems.

2. Consider these four questions

As you are looking for a new system? If so, it might be a good idea to ask yourself the following questions:
  1. How many lines and phones will I need? This will likely be one of the first questions a vendor will ask when you start looking for a new system. Take some time to think how many phone lines you will need. For example, will you need one for every employee? Or will a line for every major office or department be enough? You will quickly find that some teams won't need lines at all, while others will need one for every person.
  2. How much do I want to manage this system? If you want to have complete control over every line, the supporting systems, and the hardware itself, then going for a hosted solution may not be the best of ideas. On the other hand, if you are looking for a solution that is simple to manage for you, then hosted or managed solutions might be the answer.
  3. How fast will my business grow? If you are expanding quickly, then you will need a system that can develop with you. Many landline systems require technicians to install new lines which can take time, so businesses that are growing quickly may benefit more from digital systems.
  4. What other equipment will I be using? This is important to know before you talk to vendors because some systems may not work well with existing technology, or other systems you may be using. If you make a list, vendors can then help you quickly find a system that is compatible with your other equipment.

3. Ask your users what features they need

Before looking for a new phone system, you should ask the people who will be using the system what features they need in order to do their jobs to the best of their ability. Some teams may need wireless devices in order to better talk to customers, while others might find video conferencing worthwhile; others still may need a more unified communications platform, including text and instant messages.

The key here is to develop a list of features that your business will need before looking for a new phone system. This will make it easier to find one that fits your needs.

4. Work with your IT partner

We can work with you to help you find the best solution for your business; be it managed, digital, or analogue. If you are looking for a new phone system, contact us today to learn more about our solutions and how we can help.
Published with permission from TechAdvisory.org. Source.

November 6th, 2014

BusinessValue_Nov03_AIT is in a near constant state of evolution, largely because of the sheer number of technology-based systems and products released on a weekly basis. This fast-paced development has led to the creation of three major IT areas. It is essential that companies invest in these three areas if they want their business to succeed.

1. Commodity-oriented IT

IT is made up of systems that support day-to-day operations, so it is essential that you invest in this area because it is what supports your core business practices. Without proper investment, your employees may not be able to carry out their tasks adequately. Commodity IT is essential but it does not bring increased value to your company. Sure, implementing a new email system could save money but it does not directly lead to increased profits.

One of the best ways businesses can get the most out of commodity IT is to first identify which systems the business relies on. From here, you can look to see if improvements can be made that will reduce overall expenses and increase productivity. Regardless of what you do with commodity IT, all changes and improvements should be operations-oriented; making jobs easier.

2. Business value focused IT

Business value IT involves any system that supports key operations and processes that drive overall business value. Essentially, these systems are not only essential, but they allow businesses and customers to do what they need to do. A good example of business value IT for companies with online stores is the technology that supports the store. Without it, customers would not be able to make purchases from the company.

With this form of IT you want to invest in systems that increase the value you offer customers and employees, while increasing your bottom line.

3. New opportunity IT

New technology and systems can help give your business a competitive advantage when properly integrated, while increasing overall business value. A good example of this is leveraging a new social media platform to help gain customer insights, or implementing technology that allows your business to capture and analyze data quickly and easily.

Companies able to incorporate new technology will often find that they have somewhat of a first mover advantage, and if leveraged correctly you could see increased profits and customer retention.

Get a good IT strategy

The vast majority of companies choose to focus a large percentage of their IT budgets on commodity IT. What this results in is a focus on simply maintaining existing IT systems, without actually investing in new systems. Ideally, you want to minimize your technology upkeep expenses, and invest more in discovering new technology and systems.

How do you do this? That's where a company like us comes in. As your IT partner, we can help ensure that your systems are managed effectively, costs are minimized, and we can even go so far as to help you find and implement new systems. Contact us today to see how our solutions can help maximize your IT investments.

Published with permission from TechAdvisory.org. Source.

October 23rd, 2014

WindowsPhone_Oct20_ASmall to medium business owners who purchase a Windows Phone have access to a multitude of features. One of the more useful benefits is the fact that many devices actually support expandable storage through the use of MicroSD cards. Did you know that it your device has a MicroSD card you can install apps onto it? Here's how.

Before you start moving apps to your MicroSD card, you should be aware that this feature works best on devices running Windows Phone 8.1. So, if you are not running this version on your device, the following tips may not work. Also, not every Windows Phone device has an expandable memory slot, so it is best to first check the technical specifications for your device.

Installing new apps to a MicroSD card

This option is best for when your device's main hard drive is full and you want to install apps while keeping existing ones. You can set it so that any future apps will be automatically installed onto your device's MicroSD card instead of the hard drive, by:
  1. Opening the Settings app.
  2. Scrolling down and tapping on Storage Sense.
  3. Tapping on the box labeled Store new apps on my.
  4. Selecting SD card.
Note that because the MicroSD card is removable from your device, you will need to have the card that has the apps installed on it plugged into your device in order for these to work.

Moving installed apps to a MicroSD card

If you have apps installed that you would like to move to the SD card, such as apps that you don't use as often, you can do so by:
  1. Opening the Settings app.
  2. Scrolling down and tapping on Storage Sense.
  3. Tapping on Phone which should be located at the top of the screen.
  4. Selecting Apps + Games followed by the app you would like to move.
  5. Tapping on Move or Move to SD card followed by Yes.
While this is useful, not every app can be moved over to your SD card as this is actually up to whether the developer has selected for their app to be movable or not.

If you are looking to learn more about using your Windows Phone and to find out what you can achieve with it, make the call to us today.

Published with permission from TechAdvisory.org. Source.

October 22nd, 2014

SocialMedia_Oct20_ASocial media has come to play an important part of an overall marketing strategy for many small to medium businesses. An essential component to any social media plan, regardless of the platforms you use, is the creation of content to post onto these networks. When it comes to content, many businesses tend to rely on 2-3 different types, which can get a little boring. To help, here are five types of content you should be sharing on social media.

1. Selfies

The 2013 "word of the year", according to the Oxford English Dictionary, has become so popular it's no mean feat to avoid it these days. Truth be told, the selfie is popular for a reason: It is a quick way to get people to engage with your content.

The key here is to know when to take a selfie for your social media sites. What you want are selfies that make your company look more human, for example a group lunch meeting or after-work game night that shows people having fun. When done in the right way, selfie posts can increase interaction. Just be sure to limit the number you post, as too many could lead to you being perceived as being too focused on your company and not your customers.

2. Inside looks

When we find a product or service we like, we are often curious to learn more about it. This includes learning more about the company that makes the products or services and how it operates.

If you have a growing fan base, why not create content that provides customers with an inside look at some aspect of your business. Take pictures of your office, videos about how your products are made, or perhaps write content about how certain services are created and delivered. Basically, try to come up with content that gives people an inside view of the company.

The reason this type of content works is because it often gives customers a deeper understanding about a business, and creates a closer connection to the products and services. If you can increase overall attachment, you can increase the chances that customers will interact with content, stay loyal to your brand, and even share information about your company or recommend you.

3. Quotes

Famous quotes can be a great way to get a message across in a strong way. If for example you are hosting a Thanksgiving party, or Halloween party, adding a themed quote to your post could be a great way to encourage social media users to interact with it.

Also, if you can find quotes that are relevant to your industry, you could post these whilst asking for opinions or to further a point you're trying to make.

4. Fill in the blanks

While this may sound a little simple, posts that ask your audience to fill in a blank can be a great way to drive engagement while giving your customers a chance to tell their own story. For example, if you are a bakery who produces well-known donuts, asking a question like: "The first time I had this donut was _." could be a good way to inspire customers to interact with you.

5. Videos

One of the more drastic changes many social media sites like Facebook have implemented in the past couple of years is a feature that automatically plays a video when someone pauses on it while scrolling. While not fully welcomed by all users, this move has actually led to the number of video views increasing by as much as two times.

While creating a video because everyone else is, is a bad idea, if you have content that you know can be turned into a useful video e.g., a how-to video, then this could be a great way to reach your target market in an interesting way.

If you are looking to learn more about how you can leverage social media in your business, contact us today.

Published with permission from TechAdvisory.org. Source.

Topic Social Media
October 15th, 2014

BusinessValue_Oct13_AMobile technology like phones and tablets has become essential for businesses of all sizes. If you have a smartphone or tablet, you are not only more mobile, but can also be more productive. While these devices are being integrated in higher numbers, it really is the apps that enable users to do more. The question many business owners ask however is what apps should they invest in if they want to be able to attend to business on their device. Here are five types of apps you should have on your device.

1. File creation, management, and collaboration

Many small to medium businesses are implementing cloud-based document systems. These systems enable easy file creation, storage, and collaboration between users in the office, coincidentally they also have mobile apps.

If you have cloud-based document systems like Google Apps or Office 365 in your office, it would be beneficial to install the mobile apps for the system that you use. The reason for this is because the mobile apps have the same functionality as their Web-based versions. From your device you can access files, create new ones, share them, and even edit files which means you can be productive on the go.

2. Lists

A good lists app can go a long way in helping to keep you organized. From creating a daily to-do-list to creating a list of long-term tasks or goals, you can create lists when you think of them and easily sync them with other devices and even colleagues.

Lists apps also help because we often come up with things we need to do while away from the office. Because our mobile device is always with us, we can simply add it to an existing list, or create a new one. No having to track down paper that may be lost, or trying to remember things.

While there are many list apps out there, one of the most useful is any.do which allows users to create both work and personal lists and share them with other users. Wunderlist is also great, as it allows users to create lists with sublists and even assign tasks to other people.

3. Notes

Like a list app, a good note app is essential. If you come up with an idea outside of the office, you can jot it down and have the note sync with other devices for action when you are back in the office. Apps of this type are also useful in meetings outside of the office because many of them allow users to record conversations and even add notes quickly. So, if an important idea comes up or is talked about it is recorded and not missed.

Some of the best Notes apps include Google Keep which syncs with your Google account and allows you to quickly create notes. If your office uses Microsoft Office, or Office 365, the best choice would be OneNote which can sync with your Microsoft account, bringing notes to any system. For those who want a powerful notes suite, the best option is Evernote, which works on almost every system and Web browser.

4. CRM

Customer Relationship Management (CRM) tools have become one of the most essential ways for business owners and managers to manage their relationships with their customers. Companies that have integrated a CRM solution have found that overall satisfaction and customer retention has improved.

Because these solutions allow you to quickly view customer data (e.g., contact information, sales history, etc.) it makes sense for mobile apps to be created for anyone working out in the field. In fact, most CRM solutions now have mobile apps that allow you to access customer databases from any mobile device. If you have a CRM solution, especially a cloud-based one, it is worthwhile checking with your provider if there is a mobile app too.

5. Communication

When out of the office, you need a way of keeping in touch with those back at base, or other employees who may also be out of the office. While email is usually enough to cover most communication needs, there are times when you need something more immediate. That's where apps like Google Hangouts, iOS Messages, Microsoft Lync, and even Facebook Messages can help. These chat-oriented apps enable communication wherever you have a data, or Internet, connection.

Beyond this, there are a wide number of VoIP solutions that offer mobile apps. When you install these on your device, you can turn your mobile into your office phone which will function exactly like your desk-based phone. This makes it easier to keep in touch with the office, so be sure to ask your VoIP provider if there is a mobile app you can install on your device.

If you have a favorite business app, let us know. And, if you are looking for a way to increase the value your business can provide customers, contact us to learn how a mobile solution can help.

Published with permission from TechAdvisory.org. Source.

October 10th, 2014

BusinessValue_Oct08_AFor every business there are multiple keys to success. One of the most important is your staff. If you manage your employees in the right way, and offer them the information and systems they need to do their jobs, you could see business running smoothly and profits on the rise. This is often easier said than done though, as it can be a real challenge to effectively manage employees. That's where Enterprise Resource Planning, or more specifically Human Resource modules, can help.

What are Human Resource modules?

ERP, or Enterprise Resource Planning, is a suite of integrated business software applications (often called modules) that allow companies to track and manage data and even automate some business functions, including Human Resources.

Human Resource modules in particular are used to track different people-related functions, such as planning, payroll, administration, development, hiring, and more. Business services, like Standard Operating Procedures, job postings, news, forums, tracking of work hours, and benefits, etc., can all be unified into one module, which makes overall management and decision-making easier.

Benefits of using HR modules

Businesses that have integrated ERP and more specifically HR modules, have been able to benefit in a number of ways. Here are 5:

1. Automated processes that free up management

A large function of HR, as with many other business processes, is data entry and reporting. If you are trying to develop reports without an integrated ERP system, you probably need to pull data from numerous sources which takes time. This is time that can probably be better spent on more relevant tasks.

An ERP module data, once set up, will be more accessible. This simultaneously makes it easier to enter and pull data together into reports. And because large parts of daily tasks can be automated, you can ensure that what you need to complete is actually achieved.

2. Enhanced sharing of information and collaboration

Because HR is a central function of any business, data related to HR needs to eventually be shared with other teams or departments. Without ERP this likely means you will need to ask different people to share their data and then compile it into a useable format.

With ERP for HR, data is stored in a central location, or brought together to a central location, which means that data from different sources can be shared faster and easier. This also ensures that the right data is shared, thus enhancing overall outcomes and making it simpler for other teams to work together.

3. Management gains a clearer picture of HR

It can be tough to gain a short-term picture of your employee resources, especially when it comes to identifying potential resource shortfalls (e.g., double-booked holidays, employees who are constantly late, etc.) and where improvements can be made. For example, in most modules you can track overtime hours of employees, and receive alerts when overtime is past a certain threshold.

If you spot that one department is consistently banking extended overtime hours, you can move quickly to address this.

4. Data is kept up-to-date

As we've stated above, HR systems usually involve data from various locations. This means that there is always a chance of duplicate or incorrect information. A healthcare ERP module can help ensure that the data is not only correct, but also not duplicated, which can in turn speed up decision-making and enable better decisions to be made.

5. Reduced licensing expenses

Without ERP, your HR team could need five or more systems in order to keep track of everything. Each of these systems will need to be licensed, which can often be a serious investment on your behalf, not to mention the costs of setting up and maintaining these systems.

Because HR ERP modules offer an integrated solution, you pay for one license to cover all of your needs. This reduces overall expenses while also making it easier to budget and maintain.

If you are looking to integrate an ERP solution in your business, contact us today to learn more about how we can help.

Published with permission from TechAdvisory.org. Source.

October 9th, 2014

BusinessValue_Oct07_A.It seems like September was a big month for mobile payments. From Apple launching a new service to announcements from both Amazon and Ebay, there will soon be a number of new ways businesses can allow their customers to pay via mobile solutions, and an increasing number of businesses are considering switching over.

What exactly is mobile payment?

Most people would define mobile payment as either using your mobile device as a wallet, or using mobile devices to accept payment. Many services allow users to link credit cards to their mobile device and simply scan it over a pay terminal to have their account charged.

Companies on the other hand usually pay a set per-transaction fee in order to use the system; something along the lines of, or slightly cheaper than, most credit or debit-based payment terminals.

If you are considering switching over, here is a brief overview of the most common payment solutions.

PayPal

In late September Internet auction giant eBay announced that they will be spinning off their popular Internet payment system PayPal sometime in 2015. While many users will utilize PayPal to pay online, there is actually a mobile payment solution called PayPal Here, which is expected to grow immensely.

With Here, you get a payment solution app with a card reader that plugs into most smartphones (Android, iPhone, iPad, Android tablets) and allows you to accept multiple types of payment from anywhere you have an Internet connection. You can even track cash payments and record checks.

Vendors can use this app free of charge, however they are charged a 2.7% per swipe fee, based on the amount of the transaction.

Apple Pay

Apple Pay is Apple's recently announced mobile payment system that utilizes NFC (Near Field Communication) on the iPhone 6. Users with an iPhone 6 will be able to link their credit cards to their phone and then will hover their device near a terminal and press their thumb on the device's fingerprint reader to pay.

Your payment information (an account number linked to your card. Apple has noted that actual card numbers are not stored) is stored in the Passbook, and will be accepted at an initial 220,000 stores in the US when it launches sometime in October. There is a good chance that small to medium businesses will be able to integrate this solution into their business in the near future, so it would be a good idea to keep an eye on this.

What is interesting is that many banks have announced that they are considering accepting, or will accept Apple Pay as a method of payment. This means that businesses with an existing NFC payment terminal - which is often provided by a bank - should be able to accept payment (if the bank does of course).

Rumors have it that merchants will not be charged a transaction fee to use this service; details will be solidified when the system goes live.

Square

Square is arguably the most popular, or at least the most well known, mobile payment system. With a card reader that is compatible with most popular mobile devices (Android, iPad, iPhone) users can set up a whole Point of Sale system via the Square Stand and accept a wide variety of payments.

To use this solution, you need either the card reader (which is free) or the Square Stand (which costs around USD $99). For each transaction there is a fee that starts at 2.75% for credit and debit cards.

Amazon's Local Register

Introduced in mid August, this new card reader is aimed at both PayPal and Square solutions. As with these, there is a card reader that can be plugged into most devices (Android, iPad, iPhone) and an app that goes along with it. Businesses with the reader can then use the device to accept payment.

Where this solution differs is that the reader costs USD $10 to purchase. That being said, the USD $10 is refunded towards your first transaction fees upon signing up. The transaction fees are also quite a bit lower. For businesses that sign up before October 31, 2014, there is a flat rate of 1.75% per swipe until January 1, 2016. Any business that signs up after this date will pay a flat rate of 2.5% per transaction (based on the total transaction amount).

Google Wallet

Google Wallet is a hybrid mobile and online payment solution that allows users to add credit cards to their wallet and pay for things either online, or at stores with NFC payment terminals (also called contactless terminals).

While most users who have made a purchase on Google Play, or have used their Google Account to make a payment have used Wallet, this hasn't been the most popular of solutions when it comes to customers using it to pay in-store. The reason for this is because there are only a limited number of devices with the required NFC radio (two to be exact). This system is also currently limited to the US only. Customers around the world can use Google Wallet to pay online however.

There is a good chance that with the recent new announcements and upcoming mobile payment products, Google will be pushing this out to more devices in the near future.

There are other mobile payment system options available, so it is a good idea to contact us before you implement one. We can help you not only find a solution that works for your business, but ensure that it can be integrated into your existing systems.

Published with permission from TechAdvisory.org. Source.