Here are some of the major benefits pertaining to using centralised Salesforce payment options as a business organisation:
Receiving Faster Payments
As mentioned earlier, integrating payment gateways with Salesforce acts as a funnel that directs payments from multiple sources on to a centralised platform. The database stored in Salesforce plays an important role for you in receiving and managing your payments.
Your sales team has already tended to the leads recorded in your CRM database. All their major details have already been fed into the system. This makes the process of receiving payments through Salesforce easier and faster. Unlike using independent gateways, Salesforce payment gateway would help you in matching the receipt with the customer almost immediately, facilitating quick transfer of funds and maintaining an efficient record of the same. Also, as you already have majority of the customer details, they will not have to provide every single detail for every transaction undertaken with you. This would result in hassle-free and convenient payment from the customers’ side as well.
Obtaining useful Customer Insight
Salesforce essentially functions on the principle of giving customers the utmost priority. All the services provided by the platform are tailored to suit the specific needs of the customers. This implies that you already have enough information about the customers you are catering to. If you tend to integrate payment gateways with Salesforce, you can obtain a 360 degree view of your customers.
Using this integration, you can track an individual customer’s purchase history and the amount they spent buying your products on a periodic basis. You can ascertain details such as the declined payments, refunds, accounts standing and scheduled orders pertaining to each of your customers. This is how the platform of Salesforce would automatically keep a track of all the payment-related activities of your customers, helping you ascertain how loyal a customer is. Using this information, you can reward certain customers by providing them with exclusive offers and discounts, creating a win-win situation for both the parties.
Increased Control On Payments
Once you have integrated payment gateways with the platform of Salesforce, you have more control on the manner in which you receive payments and configure your payment options.
Using the centralised platform of Salesforce payment options would give you the power to modify the payment options according to the changing needs of your customers. If you are offering services for which subscription payments are made on a periodic basis, you can opt for setting up a recurring payments model or schedule your payments according to your preferences. Also, this integration would allow you in reconciling errors without going on to an external system.
The platform of Salesforce would allow you to make necessary configurations before or after receiving payments through Salesforce payment gateway. You can also choose to set up a unique proprietary billing system or create a virtual terminal interface on the website of the payment provider you are integrating with. This would in turn provide you with considerable flexibility in managing your payment through Salesforce.
When it comes to making or receiving payments, ensuring security becomes the topmost priority. If you choose to integrate your payments with Salesforce, you would also increase the security of the payments being made by your customers.
As you are setting up an integrated payment gateway that removes an intermediary between you and your customers, it considerably decreases the exposure of sensitive information shared by your customers. Also, the platform of Salesforce itself is developed giving importance of complete security of information. Salesforce developers, administrators and operators are trained to maintain 100% security of all the information provided by the customers.
However, it is advisable to integrate with a payment gateway that undertakes tokenisation of information. If a company is tokenising information, it is replacing critical information (such as credit card details) with tokens. This considerably prevents any unauthorised access to the information as it solely resides with the processor.
Increased Automation and Accuracy
There are many business organisations that still resort to traditional manual methods of keeping a track of payments. On integrating payment gateways with Salesforce, you automate majority of these processes, ultimately increasing the accuracy with which the payments are processes and recorded.
Salesforce monitors all the data you possess and prevents any scope for duplication of information. As soon as a payment is made, the system would automatically link it to the concerned lead, contact or Account, recording the transaction in the database in real time. This reduces the scope for human error to a great extent, facilitating seamless transfer of funds.