No matter how your business accepts and manages payments, business owners will unanimously agree that ensuring the process to accept payments runs smoothly is vital. Some businesses will focus more on managing invoices, some will focus on the ‘self-checkout’ style of payments, and some will focus on both. Having a system and process in place within your business to manage your payments is essential. An automated system greatly reduces the possibility of human error, and provides huge savings in time and resources.
As you may already know, 3EN uses NetSuite as an internal database for all of its business needs. NetSuite provides a payment management solution called ‘SuitePayments’, which seamlessly integrates with NetSuite, to ensure your payment needs are streamlined, and easily managed. All data stored in NetSuite, is real time information, no need for updates to gather the last week or months’ worth of information. When you receive a payment, it should show almost instantly on the system, and with the help of real time reports and dashboards, you will be able to view the information almost instantly in an accurate, streamlined, and accessible way.
I am aware that many people are hesitant about storing data, and financials within the cloud, however along with the high security of NetSuite, SuitePayments also actively helps prevent fraud. This feature is ‘out of the box’, which means it requires little to no scripting or configuring. So essentially, at your fingertips you have a payment solution that has controls over verification, authentication and encryption at the very least.
SuitePayments is flexible in accepting and receiving payments. It supports and accepts many types of card payments and allows split, and partial payment transactions. As NetSuite is a Cloud based global solution, this payment management solution is ready to use worldwide, it allows for multicurrency’s to be handled in one system, from one data set and managed through a single, or multi business view.
All of these areas add up to one solution, that can not only manage all other areas of your business, but can also streamline your payment management in a safe, efficient and effective way. It can allow you to view your real time payment information at the click of a button, and assist in the management of invoices, sales, and other transactions. Enabling you to have a full 360° view of your business, data, payments, and invoices in real-time is an advantage that I’m sure you will agree cannot be taken lightly!
Brief overview of the features of SuitePayments
Flexible Payment Acceptance
Accept a variety of credit and debit card types and other electronic forms of payment for online payment processing needs.
Out-of-the-box capabilities to enforce controls around card-related verification, authentication, encryption and more.
Serve different geographical markets with multi-currency and multi-site capabilities.
Flexible Payment Processing
Support card payments for recurring and installment billing, as well as split and partial payment transactions.