Intuit Go Payment
Fixing Cash Flow Gaps
I know people are as opinionated about Intuit, as they can be about Microsoft, but for the most part my customer experience with Intuit has been positive. One of the best things I think they have going for them is the variety of complimentary services they offer. Now of course, their greatest asset is also their greatest weakness. I have spent much time navigating a megalithic phone system when trying to get tech support for the complimentary services I use.
That said, a friend recently pointed me to Intuit’s Go Payment that has the potential to be fantastic. It’s a service, coupled with a small piece of hardware, that helps small businesses take payments on the go, with a mobile device.
This sort of technology solves a very specific small business problem called the “Cash-Flow Gap”. Small business don’t have the clout they need to negotiate with vendors for 30, 60 or 90 day payment terms. Often small businesses have to pay for the services and goods they purchase up front, or at least put down deposit. Meanwhile, these same small business must wait until their clients get around to paying them….. sometimes as long as 90 days later.
Intuit Go Payments
So what happens then? The money FLOWS OUT, but no money is FLOWING IN. Hence you have what is called the Cash Flow Gap. A frickin awesome way to increase your Cash Flow and your business’ financial efficiency is to shrink the Cash Flow Gap to the smallest amount of time possible. Get the lead out and get that money in the door! So yeah, this little Intuit tool that helps you get paid on the spot, as soon as your services are complete or goods are sold, has the potential to squash the Cash-Flow Gap.
Go ahead…..shake your money maker.