Streamlining payment standards in the hospitality industry.
Located on the beautiful Victoria harbour waterfront, Boom & Batten offers a locally-based casual and fine dining experience inspired by the pacific northwest. Behind the scenes of the restaurant, cafe and bar, Erin is the office manager in charge of the business’s accounts payable and maintaining strong supplier relationships.
The hospitality industry is hectic and competitive. Daily operations leave no room for unnecessary admin work or time to wait for a cheque to arrive in the mail. Yet, most restaurants still rely on slow, outdated payment methods like cheques to process large bills on the back-end. Erin knows the inconvenience of having to write and mail cheques to pay suppliers all too well. MazumaGo saves her countless trips to the mailbox and it keeps her suppliers happy.
PAYMENTS WITHOUT LIMITS
“I kept getting stuck with daily and weekly e-Transfer limits.”
Before Erin was introduced to MazumaGo, she tried to switch from sending cheques to e-Transfers through the bank. The problem was that their suppliers’ monthly bills usually exceed the daily e-Transfer limit of $3,000. As a result, Erin was forced to split payments up into multiple transfers or delay transactions to another day – an inconvenient solution for her and her suppliers.
Switching to credit cards was not an option for Boom & Batten, knowing that the high percentage fees of card processing are one of the most significant expenses in the restaurant industry. With MazumaGo, Erin doesn’t need to worry about transfer limits or percentage fees anymore: “Not being restricted by daily or weekly amounts is the main benefit to us.”
No transfer limits
KEEP SUPPLIERS HAPPY
“We love that we can pay right away and our suppliers love us for it.”
The request for faster payments came from Boom & Batten’s suppliers. They want to be paid as soon as possible. Erin knows how important it is to pay bills on time and maintain strong supplier relationships, especially in an industry that is notorious for stretching out payments.
With MazumaGo, Erin can send payments to suppliers’ email addresses as soon as she receives the invoice from them. For suppliers, it is super easy to accept the payment and deposit the money right into their bank account. Thanks to real-time payment tracking and automated status updates, both Erin and her suppliers know exactly what’s going on with their money.
Onboard suppliers via email
Real-time payment tracking
“It frees up so much time on the back-end.”
MazumaGo doesn’t only make Erin’s life easier. Boom & Batten’s bookkeeper used to spend hours every month writing and printing cheques for payables. Erin was the one that had to sign the cheques and physically bring them to the mailbox. Now, Erin can send out payments in one simple step online through the MazumaGo dashboard - in a fraction of the time.
What’s more, the reconciliation is simple and straightforward for both Erin and the restaurant's bookkeeper. Erin simply adds the supplier's name in the customizable bank statement descriptor, which makes it super simple for the bookkeeper to match payments and reconcile them with the bank.