As the payments landscape for complex B2B organizations continues to accelerate into the digital world, the ability to seamlessly integrate payments into existing enterprise workflows remains top of mind and has become more complicated driven by:
Adding payments technology to your ERP system is not only a way to unify your operations and other backend systems, but also a way to expand your business’s value to your customers. With a payment technology partner, you can increase payment method options, enable cross-border processing, and minimize your PCI-audit scope with a just one integration and without increasing payment processing costs.
CONNECT EVERY PAYMENT CHANNEL WITH ECOMMERCE AND ERP INTEGRATION
While the standards for B2B payments have been paper invoices, checks, and even cash, due to the evolution of technology and recent global events more and more companies are seeking out electronic or digital payment options. Now, with a single integration into an existing ERP, companies can offer their customers the ability to pay with credit cards, bank transfers, and more.
Companies can offer B2B customers the ability to schedule payments in advance, split payments, or set recurring payments. Again, with the right options made available to customers, companies can increase their payments acceptance rates and overall improve their customer satisfaction.
TOKENIZE PAYMENT DATA
Customers value data protection and are far more likely to continue doing business with companies who value it as much as they do. Consider the risk involved with emailing invoices, keeping paper records, mailing checks, and trusting delivery people to handle payments. All these activities, and more, present an incredible amount of danger to the data and payments information of companies doing business with each other. Now, companies that integrate payments technology into their ERP can also benefit from the added cyber security features that are included. More specifically, when the payments technology incorporates tokenization of any sensitive data within the ERP, companies can offer their customers the reassurance that their PII and card data remains protected from exposure.
RECONCOLIATION AND REPORTING
The manual nature of B2B sales and order processing has been updated by today’s ERP integrations, which can allow the businesses on both sides of a sale to clearly see the status of an order and the payment for it. Power your organization with the data you need, when you need it by simplifying settlement reconciliation via one report and system. With a single integration, companies can maintain real-time visibility into outstanding orders, past due payments, and even shipment details in one place. This is a benefit to both the vendor and the purchaser, as both companies seek to optimize their operations and reduce human error.
EMBRACE A FUTURE OF AUTOMATED AND STREAMLINED B2B PAYMENTS
Worldpay B2B Payments enables companies to securely accept and integrate electronic payments into their existing enterprise systems and daily workflows. From ERP integrations all the way through reconciliation and reporting, our solutions streamline your end-to-end operation while providing security and scale. Say goodbye to systems that don’t speak to each other and labor-intensive processes, and embrace a future of automated and streamlined B2B payments and order processing, all within the ERP you are using today.
To learn more, visit WorldPay from FIS in the Partner Pavilion at Ascend 2022. And be sure to attend Enterprise Data Security with Digital and Global Payments on Monday, June 13 at 11:15 a.m.