Contemporary businesses face the complex task of managing myriad payment and transaction eco-systems, increasing volumes, ever changing regulations and customers who demand flexible payment options. A payment monitoring system can be the best solution to facilitate this complex task and avoid these issues.
Are online system disruptions interrupting sales?
Monitoring the health metrics of a complex and multilayered payment system becomes easier with a customised payment monitoring software. You will have visual and real time access to the three layers of the system, namely the infrastructure, applications and the transaction layers. This is the most efficient way for you to be sure that all elements of your online business are functioning as they should be. To avoid losing sales, payment monitoring software will alert you to any issue that is occurring to components within the payment architecture, allowing you to solve problems before your customers even notice.
Is your company compliant?
Your business is continually dealing with sensitive information during online transactions. A third party payment monitoring software can monitor regulatory compliance ensuring your business is meeting the required industry regulations at all times. The software can also provide online security for both your business and your customers.
Analyse payment provider performance – is it time for a change?
How much do you pay every time you make a sale? Payment monitoring software will monitor and analyse key metrics around payment performance, including your providers’ risk profile. With this information you can decide whether you arereceiving the best value per transaction, or whether your business could do better. Receiving ongoing information about authorisation rates, cost per transaction, and chargeback ratio provides the data you need to boost your business performance.
Are you using real time information to make sound business decisions?
Having immediate access to data on business performance puts you in the best position to make decisions that will affect the future growth of the company. Payment monitoring software provides timely analysis of valuable measurements such as which areas are the least and most profitable, and month by month performance comparisons. These vital pieces of knowledge can be used as deciding factors around stock and staffing levels, or price points. Your business can be completely streamlined, maximising profits with confidence, thanks to ongoing and intrinsic transaction analysis.
Are you providing the best customer service?
Utilising payment monitoring software is an effective way of achieving an understanding of your customers preferences. Drilling down into years of customer history, the programme can predict potential issues and ensure you avoid the problems that may ruin the customer experience. Monitoring software such as IT Transact offers a flexible approach that can be adapted to all interconnected technologies and collect information from a seamless flow of transactions made through POS, online, ATMs, or mobile phone.
More and more businesses are taking advantage of payment monitoring software to bring them the data and the analysis they need to keep ahead of the competition and stay number one with their customers.
