Advantages of a better Integrated Payment Solutions
Business applications like accounting, CRM (customer relationship management) and others can integrate payment processing in a smart business very efficiently. It not only saves a lot of your time but also enables you to reduce the errors in your working and have a better view of your business. You will find it quite convenient if you visit Lightspeed pos login. On the other hand, if you manually enter and reconcile payments with accounting, CRM or other solutions, you will waste your precious time with redundant data entry as well as increase the chances of human error. And what is pity is the fact that you will have to spend even more time at the end of the day reconciling these errors so that the information may match itself in both the systems. Integrating payment processing with your business solutions will give you the following benefits:
- It will save your time and reduce errors by eliminating the time which may get wasted on redundant data entries, credit card verification and reconciliation and so on. You may re-allocate this saved time to more important tasks which may enhance your business to a great deal.
- Payment processing information integrated with accounting, CRM or any other business solution not only gets recorded in that solution automatically but also provides you with better visibility and capability to create more up-to-date and accurate reports.
- Integrated payment solution reduces days’ sales outstanding (DSO) by monitoring payments efficiently. It also speeds up the process to post receivables and, hence, improves cash flow.
An integrated payments solution from a vendor certified by PA-DSS (Payment Application Data Security Standard) ensures well secured exchanges of payment data where exchanges are also PCL compliant with PCL security standards which mandate that businesses safely encrypt and store PIN numbers, CVV2 numbers and magnetic stripe data. In spite of all these benefits along with many others, integrated payments processing is still a confusing topic for a number of reasons. Various vendors offer various software solutions and brands, but the one that integrates everything ideally will obviously be the best. Lightspeed pos support may be visited for proper consultation. Based upon this fact, I have recommended a few suggestions which will help you choose the best integrated payment option:
- Always focus where your highest transaction volumes are coming from and automate and integrate the process here in order to get the biggest payback.
- Always keep in mind what business applications you need most to integrate with payments.
- Check whether the solution pre-authorizes, automatically accepts or declines payments or not.
- Carefully consider if it securely encrypts and stores the oft-repeated customers.
- Also observe whether the solution prints receipts, sends email notifications to customers and posts back to CRM, accounting or an order fulfilment system.
- Carefully see if the solution, you are going to choose, PA-DSS certified.
- In the end also verify whether you have the liberty to choose your own merchant service provider or you will have to choose theirs. This is because credit card processing rates are different and really add up if you process a lot of transactions. Be sure to get a fair rate.
In short, we may say that integrated payments solutions help you reduce costs and improve efficiency and enable you efficiently achieve your high goals.