Integrated payment processing solutions are tools that enable businesses to embed payment processing directly into their ERP/Accounting systems, CRM solutions, and other business applications. For over a decade, we have successfully developed high tech solutions that enable businesses to move away from big, bulky physical terminals to fully integrated software applications.
Every business needs to get paid. Depending on payment methods and volume, businesses can spend calculable time and measurable resources on each transaction in order to process payments. Today most businesses prefer to pay and get paid electronically, thus a simple payment plug-in that can transfer payment information through a business accounting system, can improve business efficiency in a variety of ways.
1- Reduce Processing Time.
2- Reduce Processing Costs.
3- Reduce Processing Risks.
How can an integrated payment processing solution reduce time?
Each time a payment is received through a physical or virtual terminal, a manual process starts. Most businesses have a dedicated person who must manually enter payment details into an accounting/billing system. Integrating payment processing activities directly into an accounting system not only reduces data entry time, but also eliminates the risk of human errors. Subsequently, merchants do not need to spend additional time at the end of each day to verify information or to reconcile batches.
If 2-3 minutes of your employee’s time is spent on entering and reconciling payment data, even a modest amount of 20-30 daily transactions can quickly add up to 45-90 minutes per day. Considering an average pay rate of $25 to $45/hour for accounting staff, your business could be wasting $600 to $1000 per month in just processing costs. By simply reassigning your processing staff to other areas within your operation, integrated payment processing can help you boost productivity and efficiency.
Other ways integration can save you time:
Automated recurring payments
Issuing credits and voids
Emailing receipts and invoices
Posting payments to various accounting modules
How can an integrated payment processing solution reduce costs?
Integrated software solutions provide another major advantage, and that is the ability to turn your PC into a powerful payment processing machine. Merchants do not need to purchase any additional hardware (unless they have a storefront) or to install expensive software. As a full-service processor and software solution provider, we offer a comprehensive all-in-one payment solution and processing services package to cut the costs of purchasing and maintaining any third party software.
With our integrated solution, businesses can systematically manage recurring billing using just a few clicks. Your business can save valuable time and money, by no longer having to mail out printed invoices, or collect and process received checks. In addition, by automatically pre-filing customer data with each and every transaction, an integrated payment solution can help you avoid high processing fees as a result of incomplete card information being submitted to the banks.
How can an integrated payment processing solution reduce risks?
Cyber security has become a growing national concern for very good reason. Customer data is the livelihood of any given business, and no business owner would want to risk his/her business reputation in the event of a data breach. At Century Business Solutions, we understand your customers’ information is a huge legal and financial liability, and we are fully prepared to help reduce or eliminate this liability from your business.
With an integrated payment processing solution, you can rest assured that customer data is never stored on your local systems. Therefore, in event of a data breach within your business, hackers cannot find or steal any sensitive card information on your network. What further separates our solutions from other providers is our ability to fully tokenize data before storing it in our virtual vaults. Through the use of the latest data encryption and tokenization technology, we digitally replace sensitive card information with tokens. These tokens prove worthless to any hacker in the unlikely event of our data system being compromised.
Our solutions are PCI compliant. The added layer of security via data encryption and tokenization technology, further reduces your PCI scope and ensures the safety of your data at all times.
Explore some of our solutions below, and use the sidebar on the right of the page to request a complimentary analysis; we’ll prepare your business a free quote and comparison geared to your specific business plan.