Whether you are running a doctor’s office or a multinational supply chain business, you need an integrated credit card processing solution that’s easy for you and your customer to use.
Integrated credit card processing tools allow to you align the data essential to your business, i.e. orders, inventory level, shipping and invoicing within your ERP system, so your business will function more efficiently.
Using an integrated credit card processing system with an ERP system allows data to be automatically passed between previously discrete systems, eliminating the need for manual data entry. And with multiple systems in sync, your business will always have a single version of truth.
Consider the following benefits of integrating payment technology with your ERP to gain a business advantage.
Reduced Human Error
Manually entering data during the payment transaction process is time consuming and prone to human error. These errors include duplicated entries, incorrect data entry or data applied to the wring account. These errors lead to time lost in trying to locate and correct them.
With an integrated credit card payment processing solution, there’s a seamless flow of data to your ERP that eliminates entry errors and avoids data redundancy.
Increased Cash Flow
Small e-commerce businesses rely on the quick turnaround of cash to be able to stay in business. They must be able to pay employees, suppliers, taxes and stay on top of other operating costs.
Having a payment processing solution that integrates with an ERP, provides accurate and up-to-the-moment reports on exactly how much money is available, which vendors need to be paid, ultimately helping your business make better operating decisions.
Lowered Labor Costs
With payments automatically syncing as they are made, there is no need to hire a dedicated accounts receivable employee. Integration also reduces the cost incurred to train your staff to process payments or re-enter data from credit card transactions.
It also reduces the time spent training employees to process payments as your entire operation will become less complicated and easier to learn.
Stronger Payment Data Security
To ensure your customers payment details are always kept safe, we advise our clients to use a PCI-certified payment processor.
Most integrated credit card payment processing tools use tokenization to provide a high standard of payment security. Tokenization replaces a customer’s card information with a unique set of characters, known as a token. The token is saved instead of actual credit card details and can only be decrypted by the issuing bank, during authorization.
The tokens generated are integrated into your ERP system, allowing you process payments without storing credit card details.
This way, you can be confident that your customers’ data remains safe, improve consumer confidence and boost retention rates. Plus, you don’t have to bug your customer for their credit card number every time you need to run a payment.
Streamline Operations & Save Time
Employees are no longer manually reconciling transactions as all transaction data is updated in real-time. With credit card transaction history readily available, you’ll get better reporting and insight which can help to control costs, increase revenue, and maximize profit.
Having the data from electronic payments seamlessly flow into your accounting system without the need for manual entry is an optimization that businesses of every size can benefit from.
Discover how an integrated credit card processing tool can deliver these benefits to your business – contact an Admiral representative to learn more today.