In short, integrated payment systems help ISVs help their customers streamline credit card processing (really, all types of payment processing), reduce friction, automate business administration and enhance the customer experience. While all those reasons are key to why integrated payment systems should be table stakes in any software solution, the rationale goes deeper.
Integrated payments help customers untangle a winding web of digital and manual processes, which is vital to a business’s success. However, there are also big picture themes that sit atop each of these individual processes and requirements. It’s these themes that can add significant value for an ISV’s customers — alongside the compatibility and unification issues of underlying systems that integrated payment processing can solve for.
Integrated payment systems are at the heart of efficient merchant services, serving as an integral bridge between payment acceptance and other important business systems. Integrated payments can automate, streamline, and reduce human error across invoicing, accounting, payroll, revenue cycle management, and customer relationship management.
Integrated payments as part of an overall management system can offer a seamless way to bring together and optimize back-end business operations and customer-facing tasks. Improved functionality of each individual system is a benefit, but it’s the unifying and strengthening of the whole where ISVs have an opportunity to add true value for their customers.
Help Customers Streamline Operations
One of the most time-consuming processes many small business merchants face is the manual data entry and reconciliation of transaction data. Automating these tasks via management software equipped with integrated payments can save time and money. More importantly, it can enable an ISV’s customers to see updated ledger information in real-time and garner insights from real-time reporting and transaction history.
One example is our phone intelligence software product, which provides front desk employees with detailed information about incoming callers - before the receptionist even picks up the phone. They can see their customers’ appointments, history, insurance details, outstanding balances, and more, all in one place - making their business more efficient because they no longer have to switch between multiple different applications.
This type of seamless data sharing between systems cuts down on human error and reduces the costs associated with those types of mistakes. Instead, businesses enjoy improved efficiencies, greater cost-savings, and automatic ledger updates as payments are made. The end result is improved cash flow, which any business can get behind.
Help Customers Keep Payments Secure
Security must be at the heart of any payments operation, especially when credit cards are involved. Maintaining the integrity and security of sensitive payment data at the point of sale, as well as in transit, keeps the business itself safe from fraudsters and from losses related to non-compliance and data breaches.
ISVs that partner with Global Payments Integrated to add an integrated payment solution to their software have the ability to streamline PCI compliance for their merchants and reduce their own PCI scope. What’s more, they enjoy other value-added security services like tokenization, P2PE, EMV-capabilities, and more. Not only do ISVs enjoy peace of mind, but they can pass that along to their customers who have complete transparency into payments and their business operations.
Customers value data privacy and maintaining that privacy and security is the cornerstone to good business and customer trust. In fact, it’s that customer trust that reduces customer churn and boosts customer experience.
Help Customers Keep Their Customers Happy
Integrated payment systems support an ISV’s customers to assist their customers. Payments that are integrated into practice management software or customer relationship management (CRM) software or any other type of management software can enhance a business’s ability to connect to and serve its customers. By tracking customer details and data (contact information, interactions, sales, etc.) along with payment information, businesses can be more precise, personalized and targeted in their marketing and other types of communications. Automatic, real-time updates keep this data fresh.
On the backend, integrated payment systems help businesses keep tabs on billing, inventory, sales, collections, and more. This provides both a bird’s eye and a granular view of what is happening within the business, enabling staff to identify issues, resolve bottlenecks, and improve customer service by identifying new opportunities.
Our Customer Engagement Suite of products helps ISVs offer value-added services to their customers. A full offering of customer-centric solutions, it is designed to power a seamless, consistent experience across all channels of communication. These API-driven tools give businesses the opportunity to make decisions about their customers, while giving the opportunity for customers to pay at every touch point of the journey. This results in reduced friction, increased consumer spend and loyal customers - driving higher adoption, margin, and client satisfaction for your payments strategy.
Identifying a Payments Partner that Adds Value
Global Payments Integrated is a true partnership in every sense of the word. We provide flexible, innovative, agile, and reliable integrated payment system options to help software developers monetize payments revenue, elevate the payment experience, remove friction, and drive adoption.
While our integrated payment systems excel at connecting software to payments, we’re also thinking bigger than that. We are strategically focused on helping ISVs grow their business and add value to their solution. We help software vendors enhance the payment processing offering by enabling commerce through customer engagement.
Global Payments Integrated is on the cutting edge of integrated payments, continually evolving and constantly improving technologies to delight ISVs and their customers.
For more information on incorporating our technologies into your software solution, contact our sales team.