All businesses need an integrated credit card processing system for the smooth running of business processes. The lack of integrated card systems will cause you to go back and manually enter every transaction you’ve made into your ERP. With the integrated card processing system, all of this data is automatically entered into the ERP. The alignment of the card processing system and the entry automatic entry of data has various benefits. Here are all the major advantages of an integrated credit card processing system:
Reduced Human Error
Entering data manually increases the chances of human error. It doesn’t just introduce inaccuracy in the data but also increases manual labor. Moreover, these errors in entries need to be found and corrected. Correcting errors in entries can lead to further waste of time, money, and effort.
Manually entering data can lead to delays. Integrating a card processing system can help you have real-time reporting. You don’t need to wait for the transactions to be manually entered to see where you stand. Real-time reporting is especially useful when looking at cash flows. It also has several other benefits.
Lowered Labor Costs
Manually entering data requires labor. An integrated card processing system helps reduce these labor costs by automatically entering the transaction data into the ERP system. No labor is required to either enter or check entries when using an integrated system.
Stronger Payment Security
Most of the integrated card processing tools have strong payment security. They use a tokenization system that helps to keep the credit card information of your customer safe. A tokenization system replaces the customer’s credit card information with a token that can only be decrypted by the bank. This helps to keep the credit card information of your customers and therefore is a much more secure option.
Streamline Operations and Save Time
Employees don’t have to reconcile the transactions anymore as everything is being done in real-time. It’s way faster than manually entering the data and saves a lot of time. Following are some of the ways you can save your time:
- No manual entry of data
- No checking of entries
- No time spent searching for the wrong entry
- No time required for manual reconciliation
Integrated card systems have simplified the entire process and have reduced both labor costs and human error. This has made it way easier for businesses to manage their transactions and has made the process more efficient.
If you’re looking for payment processing solutions and integrating systems, contact Galalee Software Solutions. We’re a custom business application development company that creates solutions for payment processing and provides software consultation.