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10 Questions Most Companies Never Ask About Their Merchant Statements And What The Answers Could Be Costing You

Sponsored By CSRSI

Topics:: Accounting; Budgeting & Planning; Finance & Risk Management

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Abstract:: If you are like most hotel and hospitality merchants handling credit cards, you just check your monthly merchant statement to see if the net balance matches your bank deposit. Changes can improve 4 of the top 10 significant CFO pain points: ability to forecast results, working-capital management, balance-sheet weakness and data security (Source Duke/CFO magazine Global Business Outlook survey). Delving into details can catch internal and external fraud early. Detecting costly errors made by credit card companies and processors can offer important cash flow savings. Deep dives will discover that instituting new or enforcing current policies will help reduce unnecessary penalties like downgrades and chargebacks. Most merchants don't realize that they can negotiate their merchant services. Noncompliant processing software and hardware can cause risk and cost. Learn the questions you need to ask your team and your vendors. Knowledge can be power while it reduces your costs and liabilities.

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Released: August 23, 2010

Length: 5 pages

Format: PDF (176 kb)

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