Hyphen Wallet: The Supplier Experience
Making timely and secure payments for completed work is critical to any business relationship, but nowhere more so than in residential construction. Contractors and Suppliers need to receive timely payments from Builders so they have funds available to pay their crews and order materials for the next job. With paper payments, Suppliers and Contractors worry about checks being delivered on time and/or often need to send employees on runs to pick up checks, which is not a good use of their time. For far too long, Builders have accepted tedious check runs and ordering physical checks, envelopes and stamps as part of doing business. When you analyze the time spent, costs, security issues and potential Supplier dissatisfaction, it doesn’t make sense to stick to old ways of doing business. Especially not when an innovative payment management system like Hyphen Wallet can eliminate all these problems.
Increased Security
In addition to being inefficient and costly, the risk of checks getting lost in transit, misplaced or even worse — stolen and cashed by someone else is completely avoidable. Reports of mail theft are increasing, with criminal rings stealing, “washing,” and rewriting personal checks. Thieves use chemicals to remove handwritten ink off checks, significantly increase the amount, then sell them through underground online networks. Hyphen Wallet provides a cost-effective digital alternative to manage payments faster and far more securely. In a world riddled with phishing, fraud, hacking and theft, sending quick and secure payments has never been easier, thanks to Hyphen Wallet.
Seamless Integration and Instant Payments
Hyphen Wallet integrates seamlessly with current Hyphen Builder and Supplier ERPs. The easy-to-use portal enables Builders, Suppliers and Contractors to track, reconcile and report payments. When work is flagged as complete and the Builder funds and approves payments in their Hyphen software solution, Suppliers instantly receive funds by the payment method of their choice:
- Real-time payment
- Virtual card
- Wire transfer
- Standard and same-day ACH
- Check
Real-Time Visibility
With a simple click, Suppliers can select how and when they want payments to be delivered — instantly, in a few days or somewhere in between. Hyphen Wallet provides real-time visibility on issued and approved payments, both in the back-office and at job sites. Suppliers no longer have to guess when they’ll get paid, pester Builders about issuing checks nor send employees to pick up checks.
Hyphen Wallet
Hyphen Wallet increases efficiencies by reducing costly and timely processes by paying Suppliers and Trades securely via the portal. By giving Suppliers a choice of how and when they get paid, you’ll help boost their cash flow visibility and satisfaction while minimizing their back-office support. On your end, you’ll streamline AP processes, save money, reduce fraud and retain valued Suppliers, Contractors and Trades. In this uncertain time when supply chain issues still impact 90% of surveyed American Home Builders, it’s a win-win to incorporate a software solution that does provide complete control over an important aspect of your business.
Join the payment revolution today and benefit from secure, faster business transactions tomorrow. Contact us to learn more about Hyphen Wallet or schedule a demo. If you’re a Supplier looking for payment management software that will ultimately help you manage and grow your business more efficiently, sign up today!
