Integrated Payments Processing: 3 Key Things to Consider

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To run a successful business, we want to get paid. And by all means, we want to get paid faster. But if you are still reconciling payments manually in your current CRM, you are putting yourself into risks of human error, not to mention the time wasted for unnecessary data entry. Good thing there’s a solution, and this involves integrating the business applications used for payments processing.

Whilst the advantages of having an integrated payments solutions are clear, payments processing is often a mystifying topic for most business owners. In essence, you’d might want an integrated payments processing solution that incorporates everything — your accounting and CRM software, and all business applications you currently use, plus other future considerations like accepting mobile payments. Importantly, you’d also want your integrated payment solution to fit your budget.

Thus we share three key things to take into account when considering an integrated payments processing solution for your business:

Transaction Volume

Do you know where are your highest transaction volumes coming from? For most businesses, credit cards contribute to the largest volume of transaction. And this is probably where you are spending most of your time verifying, entering, and reconciling credit card data from your CRM to accounting platform. Automating and integrating the process where you have the largest transaction volume will improve your business’ financial visibility and control, not to mention saving tons of your precious time in doing things manually.

Current Business Applications

Most companies want to deliver sales using a secure process of taking orders, generating invoices and accepting, verifying and tracking payments within their CRM platform. To integrate your payment solutions, it only makes sense to take into account the current business solutions you are presently using.

Level of Integration

If you are not sure about the level of integration your required payment processing solution, you may need to discuss this with your IT partner as payment solution offering may vary. For example, does the process pre-authorise, automatically accept or decline payments? There may be quite a number of factors that needs to be considered as far as the level of automation is concerned and your business may need more functionality as part of the integrated solution.

When looking out for an integrated payments processing solution for your business, it is important to note for an IT solution that attends to these three key considerations. Integrated payments processing can help you improve your sales cycle by reducing costs and boost business efficiency so it’s worth a buck thinking about these three key things before coming up with a solution to will help you reach your goals.

To find out more about how your organisation can accept payments through your CRM and boost your sales cycle, register for Zoho Practitioner Webinars: Accepting Payments in Zoho CRM coming up on Wednesday, Mar 23, 2016 1:00 PM – 2:00 PM AEDT.

Whether you’re an existing Zoho CRM user or new to the platform, this free webinar will highlight how the right integrated solution can improve the way your business process and receives payments. Register now so you don’t miss out!

By | 2019-07-29T16:03:35+10:00 March 2nd, 2017|Blog, Business Solutions|0 Comments

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