Lessn: The Ultimate Guide for Payments Efficiency & Rewards Optimisation
Meet Lessn—the smarter way to handle business payments and maximise rewards without the typical hassles. Designed with businesses in mind, Lessn simplifies bill payments, automates reconciliations, and helps you earn rewards, even from vendors who don’t usually accept credit cards like Amex. This essential tool helps manage cash flow, free up your time, and maximise financial returns.
How Lessn Works:
✅ Bill Submission: Upload or schedule bills directly through the Lessn platform, ensuring easy management.
✅ Payment Processing: Users can pay using credit cards (Amex, Visa, Mastercard) or choose bank transfers, gaining flexibility.
✅ Rewards Collection: Even when vendors don’t accept credit cards, Lessn ensures users earn rewards like points or cashback.
✅ Automated Reconciliation: Integrates seamlessly with Xero and MYOB, automating reconciliation for accurate bookkeeping and reduced manual workload.
2. Key Benefits of Using Lessn
2.1 Maximise Credit Card Rewards:
Earn points or cashback on every payment, including transactions with vendors who don’t traditionally accept credit cards.
Case Study: A Sydney-based IT services firm earned over AUD 7,500 in Amex points annually by using Lessn for vendor payments, offsetting travel costs for client visits.
2.2 Enhanced Cash Flow Control:
Manage payments with features like split and partial payments, ideal for large invoices or seasonal cash flow needs.
Scenario: A hospitality company uses split payments to manage supplier costs during off-peak months, maintaining steady cash flow.
2.3 Time-Saving Automation:
Automate payments and reconciliation, reducing time spent on manual data entry.
Example: A professional services firm saved 10 hours per month through Lessn’s automated reconciliation feature.
3. Key Features of Lessn
🔄 Flexible Payment Options:
Pay any bill using credit cards or bank transfers, offering control over how payments are managed.
Use Case: A digital marketing agency pays for software subscriptions with Amex, earning cashback that offsets the subscription costs.
⚙️ Automated Reconciliation:
Seamlessly integrates with accounting software like Xero and MYOB to automate reconciliation, reducing human error.
Common Challenges Solved:
- Simplifying multi-currency transactions with automated currency conversion.
- Categorising complex invoices to streamline accounting processes.
🚀 Advanced Security Measures:
Lessn employs top-tier encryption, ensuring secure payment processing.
Industry Insight: In 2024, the average cost of a data breach for Australian businesses rose to AUD 5 million. Lessn’s robust security architecture helps mitigate this risk.
Take control of your payments. Get Started with Lessn today!
4. Who Can Benefit from Lessn?
🎯 Small to Mid-Sized Businesses (SMBs):
Ideal for companies with frequent B2B transactions that seek to streamline payments and earn rewards.
Example: Tom, a construction business owner, uses Lessn to manage payments for materials, converting those transactions into points redeemable for business travel.
🎯 Finance Departments in Larger Organisations:
Gain control over large-scale payments and benefit from automated reconciliation.
ROI Analysis: Finance teams can save up to AUD 10,000 annually in administrative costs and reduce reconciliation errors by 45%.
🎯 Accounting Professionals:
Simplify client payments and reconciliation, offering improved service delivery.
Testimonial: “Lessn transformed our client’s reconciliation process, saving us 80% of the time typically spent on manual entries.”
5. 2024 Trends in Payments & Rewards Automation
5.1 Automation as a Priority:
As businesses prioritise efficiency, automating payments and reconciliation has become crucial. A recent survey reveals that 72% of Australian businesses plan to increase their investment in automation tools by 2025.
5.2 Credit Card Rewards Optimisation:
The use of credit card rewards for managing business cash flow is becoming increasingly popular. Lessn users have reported a 15% increase in annual reward earnings by directing payments through their preferred credit cards.
5.3 Focus on Cash Flow Management:
The economic uncertainty post-pandemic has highlighted the importance of liquidity management.
Lessn Advantage: Features like split payments help businesses navigate seasonal revenue fluctuations, ensuring liquidity remains stable.
Getting Started with Lessn
Step-by-Step Setup Guide:
- Creating an Account: Visit the Lessn website, complete verification, and enable two-factor authentication.
- Integrating with Xero or MYOB: Connect directly through the Integrations tab and configure automated reconciliation settings.
Best Practices:
📌 Schedule payments to align with credit card cycles for optimal cash flow.
📌 Regularly monitor rewards accumulation to maximise benefits.
📌 Use split payments to manage cash flow during high-expense periods.
Get started with Lessn today. Create your account.
Troubleshooting FAQs:
8. Success Metrics & ROI Calculation
KPIs to Track:
- Time Saved: Monitor reductions in manual entry.
- Rewards Earned: Track monthly points or cashback.
- Reconciliation Accuracy: Measure error reduction.
9. What’s Next for Lessn?
Future Developments & Roadmap:
🚀 Enhanced analytics for cash flow management.
🚀 New payment options for even greater flexibility.
🚀 User interface upgrades based on feedback to enhance user experience.
10. Why Choose Lessn Now?
Streamline your business finances with Lessn’s automation tools, designed to simplify and accelerate your payment processes. By automating routine payments, you free up time and reduce manual entry errors, leading to more efficient bookkeeping and improved accuracy. With Lessn, every transaction becomes an opportunity to earn valuable rewards, even when paying vendors that don’t typically accept credit cards. This helps you turn day-to-day expenses into a strategic advantage, enhancing cash flow while maximising your credit card rewards.
Sources & Further Reading:
- Lessn Official Website: Detailed overview of Lessn’s core features, integrations, and benefits for businesses.
- Xero Integration with Lessn: Learn how to connect Lessn with Xero for seamless automated reconciliation and simplified bookkeeping.
- Payment Processing and Rewards Features: Insights into Lessn’s payment options and how to maximise rewards using credit cards and other payment methods.