6 reasons why you would need an integrated credit card solution
 

6 reasons why you would need an integrated credit card solution

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A webinar from CitiXsys Technologies on 6 reasons why you would need an integrated credit card solution

A webinar from CitiXsys Technologies on 6 reasons why you would need an integrated credit card solution

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  • Hellow and good morning. I am Manish from CitiXsys Technologies and I will be discussing different reasons as to why would a business need an integrated credit card solution.Credit Cards have existed for a very long time now and today over 85% of people in developed economies have and actively use credit cards. As the markets and industries matured over time, the usage of credit cards became more and more popular in B2B scenarios. When I say B2B, I do not necessarily mean transactions between 2 business houses over the Internet ALONE. What I am referring to are the payment and collection between a customer and a vendor where the vendor has the credit card details of the customer and swipes the credit card for payment collection. Along with the businesses also matured the solution offering by the IT solution providers. Integrated systems greatly improved the processes efficiencies of organizations. And as a further refinement of the accounts receivable functions, collecting payments through credit cards started becoming more and more popular and an accepted norm of paying and collecting funds. In today’s session we will discuss the 6 main reasons why an organization need credit card solution integrated to the core accounting or and ERP system.
  • A very simple agenda to an interesting topic of discussion. We enumerate the 6 reasons for having an integrated credit card solution and conclude the presentation with who we are and what we do.
  • The first and the foremost – improve cash flow. Electronic transaction processing can help speed up the credit card payment process. Instead of waiting for checks to clear, or 30, 60, or even 90 days for invoices to be paid, funds resulting from credit card transactions are deposited directly into your bank account, within 48 hours. Electronic payments will enable faster payment cycles, which lead to improved cash flow and decreased billing overhead – a significant benefit and welcomed relief for any business.
  • The second reason – Improve productivityWith credit card processing, the transaction flow is conducted automatically reducing dramatically the input mistakes. Automated acceptance and settlement allow funds from the credit card transaction deposited directly into your bank account. By making the payment process more efficient and less time consuming, you do not have to worry about being a payment collection agent. Instead, you can focus on the other aspects of your business and leave payment processing in the hands of your bank or transaction processor.
  • The third main reason – Reduce CostsAccepting credit cards helps streamline operational costs and cuts down on overhead by eliminating the need to send bills and manage account receivables. For starters, it is often less expensive to process credit cards than to accept checks. Furthermore, it helps control shrinkage – since the process is automated there is no cash on hand to walk off with.
  • Reason number 4– Convenient settlement of multiple invoices in a single transaction. An integrated credit card solution allows for settlement of multiple invoices in one transaction. Such integration not only extends a convenience to your customer, but it also takes away the logistical challenge posed by managing and reconciling multiple payments – typically through checks. Having such a feature further enhances your business credibility in front of your customer and indirectly encourages your customer to do business with youAnd of course – you go that much more green…
  • Reason number 5 – Flexible system of authorizationDepending on your nature of the business and the type of customer you interact with, an integrated credit card processing solution offers features and configuration options for a flexible system of authorization. Credit Card Authorization can be performed at multiple points in the process including:Authorize at orderAuthorize at deliveryAuthorize at order and delivery Order quantities and deliverable quantities may vary from the initial order amounts. The flexibility to re-authorize ensures that credit limits are still approvable in the case of increased order quantities, and conversely, reserved authorization amounts can be reduced when order amounts are reduced, thus allowing the customer to have the maximum open credit limit on their credit card.
  • Reason number 6With cross border commerce being more of a norm than an exception, organizations today operate in multiple geographies as separate subsidiaries. However the popularity of payment processors is still quite regional. An integrated credit card solution which is expected to have integrations with multiple regional payment processors offers the organization to operate in different geographies with different payment processors. So these were the 6 main reasons why would an organization need an integrated credit card solution. To quickly recap the 6 reasons,IMPROVE CASH FLOWIMPROVE PRODUCTIVITYREDUCE COSTSQUICK AND CONVENIENT SETTLEMENT OF MULTIPLE INVOICESFLEXIBLE SYSTEM OF AUTHORIZATIONOPTIONS FOR SELECTING PAYMENT PROCESSORSThat said, I would like to briefly talk about who we are and what do we do….
  • CitiXsys is a global firm focused on the development, delivery and support of wholesale and retail solutions specifically for SAP products. Our years of experience together with a suite of stable mature solutions make CitiXsys your partner of choice to help you win in today's turbulent markets.CitiXsys is a Gold partner to SAP – which is the highest level that a partner can attain in SAP. Our products and solutions are specifically targeted to mid-market organizations and these solutions are certified on SAP Business One.
  • You can always contact your local CitiXsys office for more information and find out how you can partner with a winner.Thank you for your time and attention and have a wonderful day.I believe we will open the lines for questions….take it away …..

6 reasons why you would need an integrated credit card solution 6 reasons why you would need an integrated credit card solution Presentation Transcript

  • 6 reasons why you would need an integrated Credit Card Solution
  • About Us
    The 6 Reasons
    About Us
    Agenda
  • No waiting for the checks to clear
    No waiting for 30,60 or 90 days for the invoices to be cleared
    Realize payments within 48 hours
    Decrease Billing over head
    Improve Cash Flow
    Reason 1 – Improve Cash flow
  • Reduce Input mistakes by automating transaction flow
    Get money deposited directly into your bank account by automated acceptance and settlement of funds
    No longer have to worry about being a payment collection agent
    Improve productivity by focusing on core business – leave payment processing to the bank or transaction processor
    Reason 2 – Improve Productivity
  • Streamline Operational Costs
    Cut Down On Overheads
    It is less expensive to process credit cards than to accept checks
    Control Shrinkage
    no cash on hand to walk off with..!!
    Reason 3 – Reduce Costs
  • Settle multiple invoices in one transaction
    Eliminate the logistical challenge of managing and reconciling multiple payments
    Enhances your business credibility in front of your customer
    Encourage your customer to do business with you
    Reason 4 – Convenient Settlement Of Multiple Invoices
  • Reason 5 – Flexible System Of Authorization
    Features and configuration options for a flexible system of authorization
    Authorize at order
    Authorize at delivery
    Authorize at order and delivery
    Ensure that credit limits are still approvable in the case of increased order quantities
    Reserved authorization amounts can be reduced when order amounts are reduced
    Allow the customer to have the maximum open credit limit on their credit card
  • Should have integration with multiple payment processors globally
    Some of the payment processors are:
    eWay (Australia)
    Paypal
    Commedia (UK)
    Authorize.net
    Ogone (UK)
    Skipjack
    Moneris (USA & Canada)
    DIBS
    FirstData
    ChronoPay
    Reason 6 – Option for multiple payment processors
  • About Us – CitiXsys Technologies
    • Business Drivers
    • Products for SAP® Business One in Retail, Warehousing, Distribution
    • Largest SAP® Business One Services Partner in the world
    • Installation, Implementation, Integration and Customization Services
    • Strategic Partner for SAP Ecosystem Opportunities
    • Operating Locations in US, Canada, UK, Australia and India
    • Global Employee Count: 225+
    • 700 seat R & D and Support Center in India
  • Contact Information
    CitiXsys Americas Inc.
    (USA)
    CitiXsys Canada Ltd.
    (Canada)
    CitiXsys Australia Pty Ltd.
    (Asia Pacific)
    New York
    Rockefeller Center7th floor, 1230 Avenue of the Americas New York NY 10020 USAT: 1 212 745 1365 F: 1 646 349 3441 E: newyork@citixsys.com
    New Hampshire
    264 South River Road, #474Bedford NH 03110USA T: 1 603 232 8252 F: 1 646 390 1988E: newhampshire@citixsys.com
    Chicago22nd Floor, The Merc, West Loop30 South Wacker DriveChicago, IL 60606USAT: 1 630 359 5956F: 1 630 697 1315E: chicago@citixsys.com
    Toronto
    8th Floor, 2425 Matheson Blvd. East Mississauga, ON L4W 5K4 Canada T:1 905 361 2886 F:1 905 361 6401 E: toronto@citixsys.com
    Sydney
    Tower 2, Level 20, 201 Sussex Street Sydney NSW 2000 Australia T: 61 2 9006 1616 F: 61 2 9006 1515E:sydney@citixsys.com
    Melbourne
    Level 27, 525 Collins StreetRialto South Tower
    Melbourne 3000AustraliaT: 61 3 9935 2916 F: 61 3 9935 2750E: melbourne@citixsys.com
    PerthLevel 29, Forrest Centre221 St. George Tce
    Perth WA 6000Australia T: 61 8 9288 0662F: 61 8 9481 3177E: perth@citixsys.com
    CitiXsys UK Ltd.
    (UK & EMEA)
    London
    Lakeside House, 1 Furzeground Way Stockley Park, Uxbridge UB11 1BD United Kingdom T: 44 0 208 622 3006 F: 44 0 845 280 8848 E: london@citixsys.com
    CitiXsys TechnologiesLtd.
    (India & South Asia)
    New Delhi
    A-24/5, MCIE, Mathura Road New Delhi 110044 India T: 91 11 42696666 F: 91 11 42696600E: newdelhi@citixsys.com
  • Questions…???
    www.citixsys.com
    www.ivend.com
  • Thank you!