Running a business can be challenging, especially in rapidly developing markets like the Philippines. Things that used to make sense a few years ago may no longer be giving your business the same advantages in the present day.
Fortunately, not all business improvements require a massive overhaul of your systems. As we’ll explore below, there are multiple low-cost, easy-to-implement options available to streamline your operations and, in the process, create new avenues for customer loyalty and profitability. Check out these low-cost tools and see if you can integrate them into your new processes:
1. Payment Links
Whether you’re just starting your first online venture or need, link payment apps like Maya Payment Links are a simple, cost-effective way to facilitate payments online. Payment links can be shared on any platform that allows live links such as social media, live chat, and email to give customers a selection of secure payments. Maya Payment Links lets your online customers pay with any digital payment they want, from credit and debit cards to e-wallets like Maya or GCash. They can also pay via QR code for a more convenient experience.
The main appeal of link payments for small and medium-sized enterprises (SMEs), is that they eliminate the need for expensive e-commerce infrastructure while still providing a seamless way to receive payments online. For larger businesses, link payments can still prove to be a valuable payment channel for special situations where customers have problems navigating other payment options.
2. E-Commerce Platforms
These days, you no longer need to have an expensive bespoke website built just to engage in e-commerce. Off-the-shelf e-commerce solutions like Shopify and WooCommerce are well within reach of most SMEs, allowing them to reach global audiences at a minimal cost. If you’re targeting Philippine-based customers, the Maya Plugin for Shopify and Maya Plugin for WooCommerce will let you accept Philippine digital payments with no additional hassle.
For most SMEs, picking a known platform and integrating Maya payments is much more affordable than building an e-commerce site from scratch. Maintenance tends to be a lot easier too, thanks to the consistent stream of fixes and patches constantly being created by these platforms’ sizable developer communities.
3. All-in-one Payment Terminals
If you have a physical storefront, an all-in-one payment terminal will simplify accepting all cash alternatives, including card, QR, and e-wallet payments. The Maya Terminal, along with the ultraportable Terminal Lite, is an exceptional solution that can accept all those payments and offer modern convenience to tech-savvy customers.
Aside from catering to modern consumers who prefer cashless transactions, Maya Terminal can be linked with your electronic cash register (ECR) to give you a clearer view of all your sales. Your ECR can then be linked with your inventory, procurement, finance, and marketing systems to update important data instantaneously, saving your business time and money.
4. Cash Disbursement Tools
Whether it’s payroll, supplier payments, or refunds, cash disbursements can involve a lot of tedious processes. Thankfully, you can vastly simplify these transfers by using Maya Disbursements. Maya Disbursements lets you disburse bulk payments accurately with just a few taps, saving you potentially hundreds of hours a year on payment facilitation. Best of all, the transfers are free.s.
5. Cloud-Based Accounting Software
Managing your finances manually can be time-consuming and even potentially risky. Fortunately, affordable cloud-based accounting tools can help simplify your bookkeeping and financial reporting, giving you an accurate picture of your finances and shielding you from legal and tax issues. Several cloud-based accounting tools offer affordable plans for SMEs and many of them can link to your ECR and, from there, your Maya Terminal or other payment systems.
6. Customer Relationship Management (CRM) Systems
Once your business scales up, you’ll want to upgrade your manual customer tracking systems and invest in a CRM system that tracks both online and offline customer interactions. You can supplement the data on these systems with your Maya payments data to gain new insights into what customers want. Doing this will help improve customer retention and help you create marketing campaigns that draw in more qualified leads, reducing the cost of doing business.
7. Social Media Management and Payment Tools
Managing your business’s social media presence effectively is now key to greater brand awareness and sales. Social media management tools like HootSuite and Buffer can help you schedule posts, analyze performance, and engage with your audience—all in one platform. You can also use Maya Payment Links to offer a seamless social media storefront experience to your new social media followers.
Do More with Less with Maya Payment Links
Maya is your partner in building a cost-efficient, future-ready SME. With tools like Maya Payment Links, you’ll have all you need to bring a new dimension of efficiency and relevance to your business. Sign up for Maya Business to enjoy Maya Payment Links and other Maya payment solutions.
Signing up for Maya Business qualifies you for a Maya Business Deposit account for holding payments through Maya Payment Links, Maya Terminals, and other Maya solutions. At a 2.5% per annum interest rate, funds in a Maya Business Deposit can grow by PHP 25,000 yearly on each PHP 1 million deposit. A Maya Business Deposit account also enables free InstaPay and PESONet transfers to partners and suppliers, saving your business cash on everyday payments and especially on bulk disbursements.
Once you become a Maya Business user, you’ll also qualify for a Maya Flexi Loan offer valued at up to PHP 2 million within 3 months. Use your Maya Flexi Loan to develop your business and create new payment channels suited to your business model. Keep using Maya as your primary processor for all wallet and card payments for bigger and better Maya Flexi Loan offers.
Send in your Maya Business application to activate Maya Payment Links and gain the growth benefits that only Maya payment solutions can deliver.
