For far too long, payment processing has come with a high price. Steep fees, hidden charges, security concerns and slow payment receipt have been common complaints among businesses of all sizes. Payment processing infrastructure has been a real problem.
But that’s all in the past.
With CRMDialer, you can implement a payment processing CRM for collecting customer payments and get paid faster, with lower costs, zero hidden fees and excellent security measures that minimize risk. Before we talk more about the features you should look for in a payment processing CRM, let’s take a quick look at five ways it can actually help you increase your business’s profits.
1. Minimize Manual Entry
Payment processing often reduces the need for manual entry. Having integrated payment processing allows all the transaction data to flow into your accounting system, replacing the need for manual entry. That, in turn, saves time and labor costs. No more having to pour over spreadsheets or log into separate systems. You’ll have all the information you need instantly at your fingertips. And let’s face it, saving time means saving money. And that is one of the biggest ways having a payment processing CRM boosts profits.
2. Reduce Human Error
In the old days, you had to do things manually or log into a separate program to process payments. In the interim, getting all the data logged into your CRM or accounting software leaves the door wide open for simple human error. Duplicate entries, incorrect information and applying payments to the wrong account — these mistakes can cost a business big in consumer confidence. With a built-in payment processing system, the data flows seamlessly into your customer files.
3. Increased Cash Flow
Here’s where it gets really exciting. Having a payment processing system built right into your CRM gives you an up-to-the-minute picture of your finances. And when you choose a platform that lets you accept ACH transfers and credit card payments along with automatic payments, you can also enjoy a steadier, more predictable cash flow. Plus, with no setup or licensing fees, you’ll have fewer expenses. And that equals greater profits.
4. Schedule Recurring Payments
Many customers love the ability to set and forget payments. By accepting automatic payments, you can cater to those who want to take advantage of the convenience that many customers look for in a vendor. And for you, the benefits range from greater predictability in your cash flow to greater customer retention and greater amounts of free time spent doing tasks other than preparing invoices for the same customer.
5. Accept Credit Card & Bank Transfers Securely
What to Look For In A Payment Processing CRM
- Security: CRMDialer supports transaction tokenization and holds the distinction of being a Certified PCI Level 1 Service Provider.
- Fast, Easy Setup: With SaaS software, you’ll be up and running in minutes, with minimal training time necessary.
- Multiple Payment Types: Being able to accept major credit cards, e-checks and ACH transfers provides the ultimate convenience for your customers. Additionally, having the ability to set up recurring payments saves time creating invoices and helps give you more predictable income.
- Clear Pricing: Like we mentioned earlier, some payment processing services have hidden fees. Even those that don’t often charge a licensing fee or setup fee. Look for one that clearly describes what they charge for each type of payment you’ll be able to accept.