Regpack's Next-Gen 'Self-Service' Payments Software Aims To Help Businesses Beat Inflation

Revenue is the lifeblood of any company. As consumer prices and global energy costs edge even higher, businesses continue to fight an uphill battle to keep their operations afloat.

What previously seemed like transitory inflation is shaping up to be a longer-term issue, and it’s impacting communities, businesses, and individuals worldwide. According to the Bureau of Labor Statistics, the latest Consumer Price Index increased 8.6%, the largest 12-month increase since the period ending December 1981. In these uncertain times, prices could continue to rise—especially with ongoing political conflicts, public health crises, supply chain issues, and a growing global population. 

Businesses are no strangers to market fluctuations; however, the challenges inflation brings in 2022 are uniquely acute and unpredictable. Whether the current period of inflation ends up being transitory or not, the fact remains that businesses must make genuine efforts to shift their business practices now if they want to survive a tumultuous year. Thankfully, the tech acceleration of the last two years is already working to combat today's economic issues. Now is the time to not only secure your business prospects for the coming months but also to inflation-proof your operations for future spikes through new technologies.

If you’re ready to stop just surviving and actually thrive in the marketplace, your game plan needs to include scalable growth and thoughtful reinvestment programs to deliver more substantial purchasing and pricing capabilities. The end goal should be to minimize reliance on volatile labor markets and maximize top-line revenue, all while maintaining high employee retention rates. Changing tedious and time-consuming manual business processes into automated ones can save businesses time and money. 

Self-Service Automation 

It’s hard to cut costs during times of inflation when prices are rising rapidly. So be proactive about your top line and boost your cash flow. Regpack, a software company that enables quick and simple automation of billing and other business processes, wants to elevate the concept of “self-service software” to a new level of satisfaction. The Regpack system functions like Lego blocks, enabling clients across industries to create flexible, customizable solutions to manage automated payments, client onboarding, and several other business processes. 

“Using the power of automation to shorten the payments process is smart at any juncture, particularly in an inflationary environment such as the one we’re in now,” said Asaf Darash, founder and CEO of Regpack. “Inflation is hitting small businesses hard, and our technology can help them navigate the headwinds by putting payments and many billing functions on autopilot.”

Reducing work through automation means less labor will be needed to run operations. This frees up workers to focus on strategic value-add activities, benefitting the business and increasing retention. In addition, total automation streamlines processes for the highest level of efficiency and transparency. This eliminates the risk of delayed payments, decreased productivity, and a negative relationship between parties. The automated billing process not only creates less work for everyone involved but also ensures invoices are paid and not delinquent since there is no burden to follow up. Payment just happens.

Beyond labor cost savings, automation can promote organizational stability. Properly investing in automation can protect cashflows, generate higher revenues, and decrease disruptions to the supply chain, workforce productivity, and demand. Companies can use their newfound productivity and cost savings to preemptively build cost management systems that allow them to strategically invest while gaining the resiliency to overcome high inflation.

There are no magic solutions when facing a challenging economy. The fiscal backdrop of 2022 looks set to remain volatile, but your business doesn’t have to buckle under the pressure. By controlling expenses and automating back-office tasks, companies will be in a better position to cope with rising inflation and other economic challenges. 

With today’s data resources and analytical power, there is no reason why you shouldn’t explore an attractive strategic response to inflation rather than trying to choose between tactical price increases, margin hits, or reductions in quality.

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