Category: Featured

Payments are changing rapidly, and this good news for field services professionals. Let’s consider digital payments. Forrester reported in a recent study that 69% of US online adults used a digital payment method to make a purchase over the past three months, making it the most popular method among this demographic.  

But it wasn’t always that way. Checks and credit card payments have long dominated as the best payment methods. For field services providers, these methods come with significant disadvantages. Checks, even when given directly during service, take time to deposit and appear in your bank account. Meanwhile, many credit card processors have expensive fees, and payment card readers can be challenging to use in remote areas.  

The right payment solution can change the game. Upgrading your payment system can help you solve several common problems in receiving and managing payments. Let’s discuss how to quickly evaluate payment processing solutions for field services professionals.

What Options Do Field Services Professionals Need When It Comes to Payments Software?

Field service professionals already have to deal with limited payment options, especially in remote areas where digital payments may not seem applicable. Outdated and manual payment collection methods lead to lost time, human error, and late payments. Combined with transaction fees and invoicing discrepancies, field services professionals can face significant challenges to healthy cash flow.

5 Questions to Ask When Selecting the Best Mobile Payment Processor

Question #1: Is this payment solution more than a processor? 

Many payment processors accept payments via third-party software like Stripe, Square, or PayPal. However, this setup causes a significant issue for field service providers. This payment approach only adds the transaction to your system.  

Typically, these systems register a third-party payment as “unapplied” or orphaned. They do not connect the payment with the proper invoice, sales order, or customer records. As a result, you will need to manually reconcile these payments. 

A comprehensive payment solution goes beyond processing and should offer automatic reconciliation.

Question #2: How does this payment software handle payments in low-signal areas? 

Field service professionals often have to deal with signal instability in remote areas, making it challenging to process payments efficiently. The best payment processor, especially one marketing itself as a mobile solution, should have offline payment processing capabilities. This feature enables professionals to capture payment data in the field and automatically process the transaction once they connect to Wi-Fi or cellular data.

Question #3: How flexible are the payment options? 

Both customers and field service professionals benefit from payment flexibility. First, customers expect more than just credit card payment options. Digital payments, such as Google Pay or Apple Pay, as well as ACH transfers, are often preferable. For field service providers, having multiple payment options offers a seamless and speedy way to get paid at the time of service. Not only is it easier to receive payments on the go, but additional options can help you avoid credit card processing fees.

Question #4: Will this payment solution integrate with my ERP? 

Most likely, you already work with ERP software such as Sage, Oracle NetSuite, or QuickBooks. Best-in-class payment solutions should integrate seamlessly with your current ERP, which will allow your billing team to better leverage automatic reconciliation, mobile payments, and other key features.

Question #5: How convenient is the solution for my customers?  

Finally, making payments easier for your customers can help you get paid faster. Instead of sending a clunky, paper invoice, it’s possible to send “click-to-pay” options via SMS or email. This approach makes it simple for customers to pay at their convenience, reducing payment delays and friction in the payment process.

Seamlessly Collect Payments

Fortis understands what professionals need for a frictionless payment process. From HVAC to commercial cleaning professionals and beyond, field services providers can leverage Fortis’ award-winning API technology and tap into: 

• Automatic payment reconciliation 

• Mobile payment via multiple devices 

• Flexible traditional and digital payment options 

• Click-to-pay and text-to-pay features 

• Offline payment processing 

• Integrations with other accounting and ERP software 

• And more 

Discover the Fortis difference and book a call with our payment experts today.  

If you’re considering changing your NetSuite payment processor, you aren’t alone. 

According to a PYMNTS study, fifty-nine percent of small to mid-sized businesses (SMBs) said they would consider switching for lower transaction fees. Additionally, nearly fifty percent said that a more usable processor would seal the deal.  

No matter the reason for changing your NetSuite payment processor, it’s important to start the process well prepared. Here are five key things to consider before making the switch.

Step #1: Determine Why You Want to Change Processors

It’s integral to be clear on why you’re making the shift, as it takes time to implement the new processor, train staff on the changes, and optimize the process. 

For example, do you want to reduce transaction costs to create a healthier cash flow? Are you releasing a new product that would work better with a recurring pricing structure?  

Some common reasons to shift from your current payment processor include: 

• Poor customer experience  

• High transaction costs and hidden fees 

• Lengthy contracts  

• Poor integrations  

• Minimal features 

Once the reason for the change is established, it’s much easier to evaluate new programs against your business needs and set relevant key performance indicators (KPIs) to manage overall success.  

Additionally, being able to explain why you are changing processors to your internal team will help with adoption. When those on your team feel left in the dark about why a major change is happening, oftentimes, they may look at the change in a negative light rather than see the benefits.

Step #2: Map Your Business Needs and Goals

Once you have your why, it’s time to map your business needs and goals. 

There are a few essential areas where changing your payment processor will have the most impact: 

• Transaction Volume and Types: Different processors may offer better rates or features for specific transaction types (ACH, debit, types of credit cards accepted, Level 2 and 3 data for business transactions all attribute to the percentage of fees you will be charged). It’s important to determine your average transaction volume and the types of transactions you see most used by your customers. This can include subscription payments, loyalty points, or accepting alternative payment methods. 

• Industry Specifications: Industries like hospitality or healthcare require unique payment processing features and compliance measures. These requirements make it even more important to find a high-quality processor. Ideally, your selected solution will be an expert in that field and will already cater to your industry needs. Another consideration is customization—how much flexibility does your payment processor’s platform provide? 

• Scalability: Another key factor is how your payment processor fits your long-term goals. What features might you need in the future? How does increased transaction volume affect your overall fees? Will your payment partner be able to grow with you as you scale? 

• Usability in NetSuite: The payment platform must work well within your ERP software, NetSuite. Integrated NetSuite partners provide a better fit, as these solutions are built for NetSuite, making the integration and maintenance seamless.

Step #3: Focus on Costs and Fee Structures

Evaluating cost and fee structures is critical when considering new payment processors. 

You’ll want to ask the following questions to determine if a processor is a good fit: 

• What type of fees are charged (pre-transaction fees, interchange fees, etc.)? 

• Does the processor offer interchange optimization? 

• Are fees subscription-based? 

• Are there any hidden fees or additional charges in the contract? 

• How does the processor leverage chargeback fees? 

• Do they have automated Level 2 and 3 processing? 

It’s important to note that these terms may not be set in stone. Many payment processors are open to negotiation on fee structure. Some even offer customized packages based on transaction volume.

Step #4: Invest in Security and Compliance

Payment data is highly sensitive, and the fallout from a breach can be devastating. Security is a non-negotiable.  

Whatever payment processor you select should be 100% compliant with the Payment Card Industry Data Security Standard (PCI-DSS). Ideally, your solution should also use data encryption and tokenization to safeguard customer data, as well as, 3D Secure as an added level of security for transactions. 

Another important aspect is fraud prevention. A strong payment processor candidate should have extensive fraud prevention measures and tools.

Step #5: Make Sure You’re Integrated and Your Team is Aligned

Finally, you’ll want to take time to ensure that your payment processor can integrate with all software that exists in your ecosystem. This includes shopping carts, accounting software, and in this case, NetSuite. 

It is also critical to have your staff understand the new system during the implementation process. In regard to ISVs, it’s important to have training modules for customers if they will be able to adjust payment settings.  

A lack of knowledge is one of the biggest challenges for any kind of digital transformation, so providing educational resources can ensure success. Best-in-class payment processors often have training or documentation materials and offer training sessions for your team.

Discover a Better Way to Process Payments in NetSuite 

Changing payment processors is a strategic move. Rather than draining resources and time from your organization, it can accelerate growth and free up revenue. But it’s important to pick the right partner for your business. Consider the five steps above when choosing a new payment processor in NetSuite. 

Fortis had an unforgettable experience at SuiteWorld 2024, Oracle NetSuite’s annual gathering, from September 9-12. For the past ten years, the event has brought together a vibrant community of customers, partners, and developers to discuss the latest trends and advancements in NetSuite. This year, Fortis joined in on the fun.

Celebrating Big at SuiteWorld

Fortis, having recently acquired the MerchantE SuiteApp technology for payment processing, attended the event as a first-time exhibitor. At the booth, team Fortis spoke about new shopping cart integrations, EMV support, increased security via 3D Secure, and Paylink features. The atmosphere at the booth was electric, as we connected with current customers and met new NetSuite users and partners.

The celebration was marked by multiple events. From champagne toasts to a one-of-a-kind Rolex watch giveaway, the Fortis team had a lot to celebrate – the continuation of a 20-year legacy of payments in NetSuite! Our involvement helped make lasting memories and strengthened our connections within the NetSuite community.

Embedded Payments and Artificial Intelligence (AI) 

Amongst all the excitement, the team also participated in a panel session, How AI & Embedded Payments Will Change in the Next 3-Years featuring Fortis’ Greg Cohen (CEO), Kevin Shamoun (SVP, Product & Innovation), and Stephanie Preuss (VP of Product Delivery), alongside Joty Brar (Senior Product Strategy Manager) from Oracle.

In the session, the team explored the future of payments over the next three years, reviewing today’s payment systems and how embedded technologies are continuing to change the buying experience. They dove into AI’s role in payments, including its impact on compliance and fraud detection, frictionless payments, risk management and AI-driven process automation. Finally, the team wrapped up with a look into how AI will shape the payments industry in the next three years.

The Future of Payments in NetSuite 

From celebrations to educational sessions, Team Fortis had a wonderful time at SuiteWorld 2024. We’re grateful for the opportunity to connect with the NetSuite community and showcase our commitment to providing exceptional payment solutions. As we look ahead to SuiteWorld 2025, we’re eager to continue our journey of innovation and excellence within the NetSuite ecosystem. 

An uncertain economy highlights the importance of having a steady cash flow. Small and mid-sized businesses (SMBs) rely on it to stay afloat.  

While organizations historically leaned heavily on pure credit card or cash payments, the advent of contactless and embedded payments has changed everything. Today, SMBs can tap into state-of-the-art payment features to increase cash flow. 

In this blog, we discuss an eight step process to help SMBs drive revenue and growth with modern-day payments applications.

Step #1: Evaluate your current process 

Before you can optimize your payment process, it’s essential to do a thorough internal review. Doing so will enable you to better understand which touch points can be improved, automated, or eliminated.   

For instance, take a close look at your accounts payable and accounts receivable workflows. Evaluate your current payment system for issues. 

Step #2: Fine-tune Your ERP and Integrations 

Next, you’ll want to shift from identifying processes to planning the optimization phase. Consider switching from legacy ERP systems to cloud-based systems, increasing automation and efficiency.  

Another option may be to leverage a plugin. Plugins are added on to a software solution, improving or expanding its original capabilities. Usually, the plugin is third-party software that provides additional features, such as customization or automation.

Step #3: Select a Specialized Payment Provider 

While plugins may seem like an easy solution, not all payment systems and strategies are created equal—and modernizing your payment software is not enough. Working with a payment provider specializing in your industry may be essential. Tapping into their expertise enables your team to set up a streamlined payment strategy more effectively. It also makes it easier to get support and troubleshoot potential obstacles.

Step #4: Focus on Profit Centers 

Next, you’ll want to focus on major revenue drivers, such as developing new and profitable initiatives, re-engaging customers, or improving other areas of your business.  

Customer experience is one example. Technology makes it possible to create seamless, self-service payment options for customers that boost satisfaction. Best-in-class payment systems accomplish this through several features, such as recurring payments, personalization, increased payment acceptance, and one-click payment options.

Step #5: Tap into Recurring Payments 

One way to increase customer experiences can be through recurring payments. When applied correctly, these payments are powerful. In fact, one study discovered that organizations using this payment strategy can grow up to 3.4x faster than Fortune 500 companies. The same report found that recurring payment models boosted retention and annual revenue per client account. This feature can easily be used in many industries to stabilize predictable cash flow, reduce customer turnover, and make it easier to plan growth programs.

Step #6: Personalize the Payment Experience 

Personalization is another critical element to creating a strong customer experience. A study from McKinsey found that 76% of consumers get upset when brands don’t personalize interactions. This strategy can include allowing customers to save their payment information, offering local payment options for regional or international customers, and adding relevant upsells and add-ons to the check-out process. 

Step #7: Vary Your Payment Methods 

Another element to consider when looking to drive growth is increased payment acceptance. According to the 2023 Global Digital Shopping Index from PYMNTS, 48% of consumers say that having different payment options is an important feature. The fact is cash and credit cards are hardly the only payment methods anymore. Customers may also expect you to include integrations with PayPal, Google Pay, digital wallets, and bank transfers. Cash, for instance, is on the decline. Pew Research found that 41% of Americans don’t use cash for weekly purchases. Furthermore, your industry may benefit from alternative payment types like loyalty points or gift cards. A wide array of payment options can reduce cart abandonment and attract more customers.  

Step #8: One-Click Payment Options 

Finally, SMBs can get paid faster by making payment as easy as possible. One-click payment portals allow customers to complete a transaction quickly. Top payment systems let you send these one-click invoices through multiple channels, such as email or text messages.  

Empower Your Business with Modern Payments 

In today’s competitive landscape, SMBs can level the playing field with enterprise-level organizations through innovative payment solutions. By adopting features like recurring payments and one-click options, businesses can enhance customer satisfaction, accelerate cash flow, and fuel rapid growth. 

Almost every aspect of a company’s financial organization continues to evolve in 2024 with Accounts Receivable (AR) as a top focus area for getting positive cash flow results at a quick pace. The capacity to stay liquid and competitive depends on the ability to request and process customer payments quickly. Thus, it is imperative to stay ahead of the technical trends driving change in AR and leverage them for growth to improve customer satisfaction.  

In this blog, we discuss the three most valuable accounts receivable trends aiding customer experience, drawing inspiration from research firms like Gartner and Forrester.

Customer-Centric AR Strategies 

The first trend revolves around customer-centric AR strategies. Forrester emphasizes that a positive relationship and a great customer experience greatly improve the chances of payments being made on time. This, in turn, also increases the likelihood of purchases in the future.  

Businesses are now expected to prioritize customer experience by offering flexible, personalized payment options. Integrating with business management software, such as Sage Intacct with payment solutions, is not only smart but critical to meeting expectations. Focusing on customer satisfaction not only reinforces B2B relationships but also improves cash flow by reducing payment delays.

Integration of Payment Technologies 

Another prevalent trend for improving AR capabilities lies in payment integrations. Forrester expects a rise in the integration of various payment technologies within AR systems. As digital payment methods continue to differentiate, businesses are expected to leverage text-to-pay, cryptocurrencies, and other innovative payment solutions. This not only meets evolving customer preferences but also simplifies payment processes for both businesses and clients.

Regulatory Compliance and Risk Management 

Lastly, in the constantly changing regulatory arena, Gartner stresses the value of AR departments keeping up with compliance requirements. As new regulations surface, agile and scalable AR solutions are needed to safeguard compliance and mitigate financial risk. It’s time to accelerate data security by using a payment platform that ensures a constantly secure, online, cloud-based experience while providing multi-layered, end-to-end data protection and fraud prevention. By implementing industry-leading security solutions, a company can reduce their PCI compliance burden, boost customer confidence, and ultimately, create more business.

Transform Your Customer Experience with Fortis 

As the leader in embedded ERP payments, Fortis seamlessly integrates with Sage Intacct, enabling merchants and ISVs to enhance their payments experience. Our award-winning APIs and payment solutions provide unique, customizable payments, increased security through tokenization, and a faster and easier checkout process for customers.

Looking to get started? Learn more about how Fortis can accelerate your payment processing within Sage Intacct.