By Greg Hammermaster, Sage North America
1. Improve cash flow
When you integrate all your points-of-payment directly to your bank for settlement – and to your accounting system for reconciliation – you maximize your cash flow. Sitting on checks and receipts minimizes your cash position, which impacts your business’ liquidity.
2. Optimize sales channels
Any payment method – whether a credit card terminal, e-commerce website, or a mobile phone equipped to take payments – that’s not integrating directly to your accounting system isn’t optimized for sales execution and back-office efficiencies, therefore increasing cost-of-sales.
3. Eliminate manual data entry
Manually entering data in both a point-of-sale solution and an accounting solution doubles the time it takes to complete the payments process. By integrating your payments environment, you can reduce time spent on accounts receivable processing so you can spend more time on revenue-generating opportunities.