Electronic payment processing is an important part of streamlining business operations. But, to get the most bang for the buck, organizations should integrate payment processing with internal systems.
Integration with accounting, enterprise resource planning (ERP), and other financial systems is necessary to realize the true benefits of electronic payment processing.
Integration with back office systems can be done directly to the processor or through integration with a payment gateway. Integration at the processor level can be beneficial in obtaining some unique services variable only at the processor level. Direct processor integration ties the company tightly to that processor so companies must be certain the processor is one that the company wants for the long-term.
Integration to a payment gateway extends the flexibility of processing. Merchant accounts can be obtained through various processors instead of a single processor which helps mitigate payment processing risk long-term.
Integration of payment processing with back-office software:
Integrating accounting and ERP solutions, on both the AR and AP sides, with payment processing for credit and debit cards, electronic checks, ACH, and alternative payments is the smart way to do business. Companies discover it provides exponential value with fast ROI and long-term savings.
How are you integrating your payment processing with your internal systems?