Making payments on aa regular basis through different means is a things that we all have to do. This is true for both the people making the transactions personally and for the businesses paying up to thousands of employees on a regular basis.
Especially if you’re a business, the act of making all the payments manually through paychecks or electronic transfers can become a headache. That is why there are lots of automatic payment platforms and well reputed apps like doxo that let the businesses and individuals fully automate their payments and forget about the pain of doing this tedious process manually.
Here are the pros and cons of automating your payments.
Convenience of making automatic payments is the most sought after quality that people look for in a payment automation platform. You can automate everything from paying your employees every month, to buying some groceries weekly and paying for them automatically. The convenience of make payments is always is a desired benefit that both the businesses and individuals appreciate.
Pro: No Late Fees Or Angry Employees
By using a payment automation platform and filling all the details the first time. You can fully automate the payments, meaning that you would never be late again in paying for the subscriptions and for any other bill that has a date on it. No delayed payments means no late fees, and you can save a lot this way.
If you’re a business, then most of the platforms like doxo can work in collaboration with your payroll system and help you in paying your employees timely. No delayed payments means no angry employees. Additionally, the HR can save a lot of time that’d otherwise be spent on making the payments manually.
Pro: No Stress Of Making Payments
Automating your bills to be paid every month means that you won’t have to remember any important dates and deadlines. This takes a lit of stress away both for the individuals and the businesses. This is how you can use the latest automatic payment technology to its fullest.
Con: You Don’t Get To Choose
If you automate a payment and do not alter the settings timely, the money will go out of you account no matter if you want it to or not. You might also face an overdraft if you are hit with lots of bills in a short period of time. This can be more of a problem for the individual users rather than for the businesses.
Con: You Might Get Lazy
This problem also affects the individuals more. When you have your bills completely automated, it is easy to getting used to not checking them twice to see if they are accurate. If this continue to happen, you might lose a lot of money in the long run.
Another danger is that you might end up using the wrong platform with insufficient security measures. That is why you should always choose the well reputed platforms like doxo for enhanced security measures and improved features.