The Internet and digital solutions have changed how consumers shop today. You’ll be amazed to know the number of transactions taking place every day. In the United States alone, more than 108 million card transactions are reported daily. Imagine, what would be the number of all types of tender transactions and across the world!
Digital or electronic receipts are proof of purchase sent through email, text message, or app notification instead of a paper receipt. E-receipts have gained momentum with the rising demand for cloud-based accounting applications. Also, people crumple paper receipts and lose them. Electronic receipts are convenient, easily accessible, and businesses can ensure efficient and organized workflow.
The benefits of e-receipts are many and can’t be overlooked. Let’s check them out.
Businesses have to spend thousands of dollars to print paper receipts. The average cost of printing a paper receipt is five to ten cents. This might seem bare minimum, but the cost becomes a huge fat number by the end of the year. You have to manage the cost of paper and ink for printing receipts, along with the cost of a printer.
With e-receipts, you don’t have to deal with these aspects as no paper is involved. Businesses can save a lot of money. At the time of billing, customers simply have to give their email address and/or mobile number, and the billing software will automatically send the invoice. Businesses can save much time, whereas customers can enjoy a faster transaction process.
When you avoid using paper, you’re helping make the planet greener. And with the alarming effects of the global warming crisis, it is essential to shift to sustainable solutions to protect our Mother Earth. Paper receipts on average use 10 million trees, 1 million, and 250 million gallons of water and oil each year.
Eliminating paper use can leave no footprint on our planet and save vast amounts of natural resources. Moreover, when you promote your brand around sustainability, it builds trust among customers and boosts loyalty.
It’s a common human tendency to keep the paper receipt either in the shopping bags when we shop. Eventually, they find their place in the bins or end up fading. With e-receipts, you don’t have to worry about storing them carefully as it is stored in the cloud and always with you.
E-receipts don’t take up a lot of physical storage space as they are stored in the cloud. Plus, you can access them whenever you want from your email or text message, unless and until you have moved the receipts into the trash.
It is pretty time-consuming to sort, scan, and report paper receipts. It is reported that administrative expenses to manage all of these tasks add up to around $5 per receipt. As e-receipts are stored in the cloud, it is easy to organize and it ensures efficient bookkeeping, saving your accounts team much time and headaches.
This also becomes quite beneficial when preparing tax returns by making the process of organizing receipts less complicated. Further, you can keep fraudulent returns at bay as they adversely affect business operations and brand image.
Promote Other Products
With e-receipts, you have ample space to promote other products and encourage customers to buy again. OptCulture’s E-receipt solution can help you to cross-sell and upsell effectively. You can even integrate social media links to increase their following and let customers be abreast of the latest news about the brand.
The utility, reliability and durability of e-receipts are increasing like never before. Brands should leverage e-receipts as a marketing tool to engage with customers and improve brand loyalty, and not just an invoice. An effective platform is a must, and OptCulture’s solutions can fulfil your business needs and drive results.