Do you ever feel like people try to put your business in a box?
In the payment processing industry, there’s a lot of “one solution fits all” options that salespeople like to push. They don’t take the time to get to know how your business works and what tools you use.
The reality is no two businesses are the same. You and your competitor might be using a different website, accounting software, or point-of-sale system from you, but a lot of payment processing companies would offer you the same solution.
In many ways, it’s difficult to give a straightforward solution for each business, because there are multiple ways your payment processing services integrate with another part of your business.
To find the right solution, you should make sure your payment processing integrates with your tools.
Having an excellent point-of-sale system is a requirement for conducting business in the retail or restaurant industry. But a lot of larger payment processing companies will offer you a subpar system that has limited functions for running your business.
You might already have a system, but the company that provides your point-of-sale system has higher rates than you would like.
To find the right payment solution for your business it needs to integrate smoothly with your point-of-sale system. There are going to be times when one or the other goes down, and working with a company that provides fair rates and quality hardware and software is key.
People often associate payments through a website as something only an E-Commerce site would use. However, many businesses such as Doctors or Lawyers offices can benefit from an online bill page option.
Many businesses find it reduces their accounts receivables and late payments if your business makes it easy for clients to pay their bills online.
Not all payment processing company offer good processing rates for online bill pay and add a bunch of fees. Finding a processing company to give you a fair rate can be a challenge. So check out different options.
Many payment processors do not integrate directly with any accounting software, which creates a huge burden on your accounting team to manually reconcile transactions between your bank.
Working with a processing solution that integrates with your accounting software can significantly reduce the manual tasks of bookkeeping.
Be sure to research how a particular payment solution integrates with your accounting package. You don’t want to use a provider that ruins your accounting workflow.
In the same vein as accounting software, having your payment processing sync up with your CRM is a fantastic way to remove repetitive tasks.
If you mainly use your CRM to track billable hours, syncing your payment processing software to update a project as paid streamlines your billing tasks and removes the risk of error.
Whenever a payment is made, the right integration will auto update the ticket in your CRM and notify your accounting department.
All of these things seem like little details, but all of them can add up into how your business takes payments.
Your payment processing solutions need to play nice with the other business tools you use. Otherwise, you’re going to have more problems with your operations.
At the end of the day to find the right payment processor you’ll need to consider all the tools you’re currently using for your business.
If you’re looking for a payment processing company that integrates directly with your CRM, accounting software, website, or point-of-sale system, contact us!
