Integrated Payment Solutions Bring Crucial Business Services Into The Same Boat

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in Blog
on Monday, 04 January 2016 13:53

Merchants need a break every now and then, and integrated payment solutions are one way that software companies can offer the businesses they serve some much-needed relief. With integrated payments, duplicate data entry is eliminated, reconciling the books is easier than ever before and this reduction in effort leads to saving time and money.

Plus, PCI compliance becomes easier -- and so do so many other things -- when integrated merchant services are implemented by a merchant. Payment solutions don’t have to stand on their own anymore.

Still, so many software companies don’t offer this option to their clients, and many merchants don’t know to demand it. But a single point of integration is the future, so why not get on board now?

What Integrated Payments Means To Merchants And Software Companies

So how does a software company benefit from offering integrated payment services? And how does a merchant benefit? When a software company is satisfying a client and meeting its current and future needs, the company is locking in the merchant’s business for years to come.

A merchant benefits from complete software platform integration many ways, including these:

Easier onboarding at every level. Since software companies can onboard new clients easier, there are savings. And since onboarding each new customer is easier for the merchant, there are saving there too. Even bringing new employees on at the company -- a different kind of onboarding -- is easier since there’s only a single system to learn. Employees in different departments and work areas can actually help each other.

Risk management is smarter. A company that understands its numbers is better at financial forecasting, and having everything in one place just makes sense. Plus, integrated payment systems eliminate the possibility of introducing human error into the numbers at each level of transition, and that reduces the risk of making bad decisions based on bad information.

Compliance issues are reduced. Having a single system for payment processing as well as customer information management, accounting and other vital needs means PCI compliance requirements are reduced. And 1099-Ks are simplified as well.

Unification In The Payment Industry Is Part Of A Larger Trend

Payments as a service -- or PaaS as some are now calling it -- is part of today’s new world of payment processing. It no longer makes sense for merchants to go to multiple vendors for things like merchant accounts, CRM software, gateways, billing management products and other essential services. Today, merchants have a lot on their plates -- or in their boats, if you prefer -- and simplifying many of their hassles into a single system can allow the business to operate leaner and more effectively.

Learn more about integrated payment solutions and working smarter by contacting us at PayVisors, a business consulting company that helps companies at every level work smarter and better using innovative new payment solutions that integrate the world of necessary business software. It’s the wave of the future, and it’s here now.

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