Integrated Credit Cards—Maximizing the Benefits
Sometimes the best ideas are the ones right in front of you. And when it comes to efficiency, the simplest and easiest-to-deploy ideas win out. One of those ideas is maximizing the benefits of your ERP system’s integrated credit card platform.
Anytime you have the opportunity to automate and simplify a process, reduce errors and create more opportunity, well...that’s a good thing. An integrated credit card system does just that.
Here are four reasons you should be using your ERP’s integrated credit card system:
1. Using Credit Cards for Front Counter Orders Can Improve Your Financial Supply Chain
By minimizing cash and charge transactions, you simplify the front counter order process. Not only do you capture credit card signatures for all credit card transactions, you can also transfer and print the signature directly on the customers’ orders, and permanently store the signed order for easy retrieval.
And for your ‘regular customers’ you can reduce the manual steps associated with invoicing and collection by setting those customers up as ‘Auto Pay’ accounts. As they place new orders, TIMS automatically bills the credit card held on file as well as credits their A/R balance accordingly.
2. No More Tedious Manual Month-End Credit Card Process for Recurring Rent & Leases
Having cylinder rent and lease customers is a good thing...but having that manual month-end process to handle their billing and payments...is not.
If you’re still handling those accounts manually, maybe it’s time you think about eliminating—or at least reducing—that entire process of mailing invoices, receiving the payments and posting payments to the customer’s account.
Using your credit card’s Auto Pay option for the cyclical billing of cylinder rent and leases makes much more sense. You’ll experience significant gains in efficiency and accuracy that will have you wondering why you waited so long to begin using it.
3. Reducing Manual Errors and Speeding Up the Collection of Receivables
Utilize your Pay Customer Balance program to increase business automation by paying A/R balances for monthly statement and monthly bill customers. Just automatically charge their credit card on file and reduce the chance of manual errors and increase automation in the front office operations.
4. Using Integrated eCommerce & Credit Cards Yields Big Benefits
When used in conjunction with your built-in credit card system, eCommerce gives you an efficient way to extend product offerings and accept payments on accounts without human intervention. And, your customers can also authorize payment on their accounts through the web portal.
The bonus result is that your staff can accomplish more high value work instead of spending time taking orders and accepting phone payments.