Introduction: Today, we have a guest blog post from PayTrace. PayTrace is a leading provider of payment processing third party add-on software for a wide variety of ERP systems, including Microsoft Dynamics. In this article, they share how embedded payments help businesses get paid more efficiently.
Secure payments are crucial to a successful business. But credit card processing is just the beginning. Your business must also look for ways to become more efficient and profitable, using solutions that help you reduce processing costs, automate payments, and more. But who wants to add yet another system to the already long list of systems you currently use?That’s where embedded payments come in. While accepting payments from within your ERP eliminates the need for more processes and extra systems, it also provides other vital benefits for your business.
What advantages do you gain using your ERP to accept embedded payments?
Streamlined Payments
Now all your payment processing can be done in the one system you already use day in, day out. You can send invoices and get paid, all without leaving your ERP. You can manage and view all your processes, including payments, from one single platform.
Improved Accuracy
With payments seamlessly integrated to your ERP, you can easily review and track orders and be assured that your transaction processing is accurate, with customer payment data updated directly to your general ledger (GL). No risk of errors from importing records here!
Better Visibility
Because your payments are processed from within your ERP, you have real-time visibility into what orders have been paid and which ones haven’t. This enhanced visibility helps you better follow-up on late payments and gives you better insights into your cash flow.
Scalability
As your business grows, your systems need to scale with you. As most ERPs are designed to do exactly that, embedded payments provide assurance that your business can accommodate increased transaction volumes and handle more complex payment needs.
Increased Efficiency
Embedded payments also means more automation options using your ERP. When you automate more workflows, such as your accounts receivable processes, you’ll see an increase in efficiency, a decrease in manual steps and human errors, and a healthy savings of time, effort, and money.
Explore your embedded payment options now
Whether it’s streamlined processes, better visibility, automated processes, or any of the other useful benefits, businesses that add payment processing to their ERP reap far more rewards than those who don’t. And they do it all from within their ERP or other day-to-day software. Why not explore your options and see what payment platforms work with your own existing ERP?
Visit PayTrace today
Specializing in payment automation and credit card processing, PayTrace provides solutions for accounts receivable, interchange optimization, surcharging, and more. When you accept payments with PayTrace, you can:
- Accept payments anywhere: through your ERP, online, in person, or on the go.
- Automate your invoicing processes: reduce Days Sales Outstanding (DSO) from an average of 28 days to less than a week.
- Save on credit card processing costs: built-in features that help lower your credit card processing costs:
- Interchange optimization automatically helps qualify B2B/B2G transactions for reduced Level II and III card processing fees.
- Surcharging lets you recover credit card processing fees through an added industry-compliant surcharge.
- Get the support you need: enjoy free, US-based, 5-star support to ensure your success.
With 20 years of experience, PayTrace is a trusted solution for 40,000 businesses in a variety of industries, including healthcare, manufacturing, construction, e-commerce, professional services, and more.
