Do you want to understand more about how to process client payments more efficiently, serve a variety of payment methods, eliminate processing fees, automate manual procedures, maintain safety, and raise profits? Then you’ve arrived at the right. Here, we are discussing Top Reasons to Use NetSuite Embedded Payments.
Oracle’s NetSuite system is used by over 40,000 enterprises worldwide to carry out their daily processes and expand. For many, the NetSuite ERP is equal to operating a company. NetSuite is a package that integrates everything from enterprise resource planning (ERP) to financial administration, e-commerce website maintenance, inventory and supply chain management, procurement and completion, and much more.
Despite all of the above, most NetSuite users are not trying to take advantage of their software’s best features. You may be wasting out on significant savings if you conduct customer transactions via third-party applications. Beyond time and money savings, a more deeply integrated, robust, embedded payment solution comes with a slew of other benefits.
Versapay can help you improve your NetSuite solution by providing a custom payment processing solution. It integrates your Erp software into a record system for all of your monetary operations. Versapay’s solution is constructed on NetSuite, so your team won’t have to learn a new system. You may substantially increase sales by centralizing, streamlining, and simplifying your payment acceptance.
Using a payment solution that is integrated
Integrated payments solution developed by Versapay is a payment processing application. It fits nicely with Netsuite ERP. A few NetSuite-specific technologies are available that can help you obtain complete visibility into your invoicing and payment processes without ever exiting your ERP. Rather than processing through a third-party or external application, the interface allows customers to transact with your ERP directly. It simply delivers a more safe, controlled, and reliable payment experience.
The following are the six most huge advantages of integrating your payments experience with NetSuite:
- You can save up to 40% on processing fees.
A per-transaction cost reduction is the objective of an integrated payment solution. Sending additional client data with each transaction might save costs by as much as 40% in some scenarios. Every transaction costs an average of 2% in credit card processing fees. You may provide more customer data with each transaction when you choose a payment processing system that connects directly to your ERP. It will ensure that your service charges are reduced. It resulted in significant cost cuts, enhanced customer data acquisition, and a much faster return on investment.
- Halve the number of manual processes.
In conventional accounting collections, manual entry can slow down the process and cost you time and money. However, an embedded payment solution prevents you from having to transfer data from one system to another. It contributes to continuous improvement by automating manual operations. It entails trimming manual processes by up to 50%. A payment system that automates the reconciliation process ensures that your accounts receivable processes are streamlined, and your collections effort is minimized, permitting you to maximize efficiency.
- Increase sales incrementally
Customers today expect a more convenient and flexible billing and payment process. Customers have strong preferences regarding how they want a transaction to be conducted. You’ll want to provide your consumers with a variety of payment options so they may pay how they choose. It facilitates capturing more revenue from increased digital buying activity. If you use an integrated payment solution, you’ll be able to accept a variety of payment ways. You can handle everything in one application, such as credit, debit, ACH, virtual cards, checks, bank payments, Apple Pay, and PayPal.
- Accept payments right away.
Your consumers will benefit from Versapay’s simple payment processing solution. It’s a NetSuite-integrated solution that appears, feels, and operates like NetSuite. There would be no setup fees, implementation costs, or difficulties. Only you’ll have to worry about which user purchases you first.
Lack of IT resources and infrastructure, as well as a plethora of third-party payment solutions, necessitated well-versed settings. It compels you to interact with them on their terms, and you won’t be able to get started right away. By linking with your existing ERP, an integrated payment system can fix the error. Lastly, you’ll be able to quickly and easily begin receiving payments from your consumers.
- Preventing payment fraud
Many security flaws are still easily avoidable despite the prevalence of payment fraud. You must be cautious throughout digital payments from the time the transaction is begun until the cash is eventually collected. An integrated payment solution, however, will allow you to execute orders securely and send sensitive client data from external systems directly into your ERP. Furthermore, an integrated payment solution provider that connects with popular shopping carts and employs its proprietary gateway. As a result, transactions will become faster and more secure. Then, competitive merchant services will be available to safeguard you and your consumers. Fraudsters will be unable to obtain sensitive information as a result of this.
- Keep risk and chargebacks to a minimum.
The most powerful integrated payment solutions include advanced fraud management approaches. It helps minimize many of the risks connected with implementing online payments. It has a payment system with a comprehensive risk management engine and a solid reputation for fraud prevention. It detects and prevents eCommerce and credit card fraud for online and cardless purchases. It will provide you peace of mind and allow you to focus on being paid and expanding your business, in addition to delivering chargeback protection.
NetSuite provides Effortless payments integration
Rising expectations are impacting the entire transaction process in the business for how buyers and sellers should interact. It inspires B2B enterprises to look for a better payment experience (for both supplier and customer). This payment is smooth and integrated into their ERP systems. It can deliver a better client experience while also improving back-office efficiency. It is an integrated payment solution’s competitive edge. It assists in the elimination of manual processing, the reduction of expenses, the avoidance of fraud, and the rise of sales.