Category: Featured

The 5 Types of AR Automation that Generate Growth

Posted on by fortis2025

Accounts receivable (AR) automation has become a crucial tool for businesses aiming to improve cash flow and reduce time spent on manual tasks. We will explore some known and some overlooked strategies you can consider when your business is scaling up. 

An extensive study from PYMNTS found that 91% of mid-sized firms that have fully automated their AR process have experienced increased cash flow, savings, and growth. Investing in AR automation also enables businesses to say goodbye to chasing late payments, long payout times, and shallow data collection. 

With different types of automation tools available, companies can streamline invoicing, payment collection, and cash application to enhance overall financial efficiency. In this article, we’ll cover five types of AR automation and how they can benefit your business.

The 5 Main Types of AR Automation

  1. Invoicing Automation 

Manually sending, processing and following up on invoices takes a significant amount of time for accounting departments. According to Ardent Partner’s Account Payable Metrics that Matter in 2023 report, processing invoices can take almost 20 days—but with automation, it can take as little as 3.7 days.  

Automation eliminates these manual repetitive tasks, ensuring that accounting professionals only have to focus on unique cases and have more time for other responsibilities. For example, you can automatically send invoices based on customer preferences, such as an email or a one-click payment portal. Recurring payments further streamlines the process, ensuring that you always receive payments on time.

  1. Payment Processing Automation 

When your business needs to collect on a payment, providing antiquated payment options can drag out the collection process and cause dissatisfaction. Payment collection automation uses technology to simplify the payment process. The solutions-providers who are thinking about user interaction first and foremost often incorporate payment portals where customers can view and settle their invoices all in one place. These platforms allow businesses to offer various payment options, such as credit cards, ACH transfers, and digital wallets. All of these options make it easier for customers to pay on time.  

However, this use case for automation doesn’t end with the initial invoice. One of the most important features is automatic reminders for overdue invoices, which reduces the time AR teams spend on follow-up. As a result, they reduce or eliminate human error and improve accuracy.  

  1. Cash Application Automation 

Cash application, the process of matching incoming payments to outstanding invoices, also lends itself to automated tools. Cash application inaccuracies or simple human error can cost accountants mental anguish and will take unnecessary time from the more important functions of the finance team. These solutions match payment transactions to invoices and apply cash to the correct accounts.  

Human error, in particular, is a frequent and costly challenge businesses face. In one study, 78% of finance professionals believe employees make mistakes with manual processes. Automating cash applications significantly reduces manual touchpoints for processing, enabling the AR team to avoid expensive mistakes without slowing down payment processing.  

  1. Credit and Collections Automation 

Manually running credit for your customers is no longer an option when scaling. Credit and collections automation includes tools that assess customer creditworthiness and prioritize collection efforts. Automated credit assessment tools analyze data points to determine a customer’s ability to pay, while collections tools identify high-risk accounts and automate follow-up actions. These solutions allow AR teams to focus on accounts that need the most attention rather than depending on random spot checks.  

  1. Reporting and Analytics Automation  

Reporting is essential and tracking with Excel is not usually the ideal path forward for growth. Reporting and analytics tools use data from AR processes to provide insights into payment patterns, customer behavior, and cash flow trends. By automating these reports, finance teams can quickly identify issues, such as customers who habitually pay late or trends in overdue invoices, and make data-driven decisions to improve cash flow management. 

Each type of AR automation brings efficiency gains to specific aspects of accounts receivable, allowing businesses to reduce costs, improve cash flow, and provide a more seamless payment experience for customers.

Turn Payments into a Strategic Asset 

Why automate accounts receivable? Beyond the reported cost and efficiency benefits, AR automation enables accounting teams to transform payments from an expense into a strategic revenue driver. With time saved from automating manual data-entry tasks, finance professionals can spend more time delving into payment strategy and finding new opportunities to improve cash flow. 

The right payment partner can help. 

With an award-winning payment API set, Fortis offers a robust solution for automating AR processes for businesses of all sizes. Merchants can leverage a number of features from Fortis, including: 

  • No external integrations—see all of your data in one place 
  • Eliminating risks associated with manual data entry 
  • Complete AR Dashboard in NetSuite’s native dashboard 
  • Automated invoicing and follow-up for faster payment 

Discover how Fortis can transform your payment process with our AR automation features.

People-Powered AI: How Humans and Machines Can Collaborate in Payments

Posted on by fortis2025

The landscape of AI Payments has changed drastically over the years, and new challenges have emerged to drive innovation in finance.

According to the Payments Association, traditional AI has already made significant leeway in multiple sectors. Seventy percent of all financial services firms alone currently use machine learning to predict cash flow and detect fraud. We are seeing AI, especially in payments and business finance, drive down costs, boost compliance, and become a revenue driver.  

But what is next? 

As with any new and evolving technology, challenges and opportunities grow alongside it. To discover what AI in payments will look like in the near future, we first have to understand what the industry is working against today.

Key Challenges in the AI Industry 

Artificial intelligence, especially generative AI, has changed the way we work and utilize AI. Even considering the “Race to AI” between tech giants like Microsoft and Google, there are significant shifts in public opinion surrounding AI. 

While taking the tech to the next level is still a goal, many AI leaders are slowing down to focus on the ethical side of AI. And for good reason. 

Bad actors create confusion to enact fraud. The Identity Theft Resource Center reported a 118% surge in job scams in 2023, with many fraudsters using generative AI to sound authentic in fake job postings.

Another similar problem is cheating, although the education industry is still sorting through its relationship with AI. A survey from BestColleges found that 54% of students believe using AI is as good as cheating, and 58% report that their school has an AI policy. However, over half of students have been required to use AI as part of an assignment. Mixed signals from professors and school policies often create hurdles for students when it comes to discussing the ethical use of AI and create ambiguity around the concept of cheating.  

At the same time, the law clearly opposes the use of generative AI for commercial purposes. Multiple lawsuits, settled and in progress, have been filed related to copyright infringement and AI. In short, anything created with generative AI, from code to art, cannot be copyrighted.  

Looking at these events side-by-side, it’s clear that there are new risks related to using AI. Many of these can be sorted through regulation and clear policies. However, there is one threat that still hinges on the technology: Hallucinations. 

AI hallucinations are defined as mistakes. When an AI model generates a nonsensical or incorrect answer. This can result from insufficient training data, wrong assumptions made by the model, or biases in the training data. 

However, there is a solution to this problem, too.

The Future of AI in Payments 

One of the key reasons for developing artificial intelligence is people.  

AI is a tool meant to reduce repetitive workloads and improve productivity. What cannot be managed via policies can be by humans.  

Imagine this: Before AI and automation, back-office accounting staff had to tediously enter data into their ERP, manually reconcile invoices, and send out receipts one-by-one. Now, AI can essentially eliminate data entry, thus reducing processing and error correction time. It can automatically reconcile invoices and send accurate receipts upon payment.  

At the same time, you still need people to oversee the AI—to audit its work, handle complex or odd cases, and develop payment strategies. 

It’s clear that AI is creating opportunities for people to do more engaging work without slowing down growth.  

Going forward, AI in payments can be ethical, logical, and efficient.  

First, it’s possible to develop or use payment software that uses a proprietary AI system—one that is protected by copyright. Such a system would reduce potential risks and enable you to leverage its primary features.  

AI can already be used for fraud detection, automating invoice matching, and customer service. Its role is bound to increase in these areas, with people at the helm. No matter how intelligent the technology becomes, it will remain a decision assistant, not a decision-maker.  

Above all, the impact of AI on the future of payments is empowerment.

Differentiate Your Business with Future-Looking Tech 

Artificial intelligence is just one aspect of modern payment technology. Payment software can now accomplish more than ever—all businesses need is the right solution to overcome their challenges.  

As a leader in embedded ERP and ISV payments, Fortis leverages cutting-edge technology to help businesses maximize revenue and get paid faster. Our award-winning API enables businesses and ISVs to: 

  • Leverage a comprehensive, easy-to-use virtual terminal 
  • Onboard suppliers 
  • Manage inbound payments 
  • Automate tailored-made workflows 
  • And more 

Connect with a Fortis Guide and discover how our technology can take your business to the next level.  

How to Quickly Evaluate Field Services Payments Software 

Posted on by fortis2025

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.

Close in of sales assistant in retail shop with customer paying using contactless payment credit card NFC

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.  

5 Things You Should Consider Before Changing Your NetSuite Payment Processor

Posted on by fortis2025

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: 

  • 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? 
  • 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 at SuiteWorld 2024: An Event Recap 

Posted on by fortis2025

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. 

8 Simple Steps for SMBs to Drive Revenue and Growth

Posted on by fortis2025

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. 

Fortis Announces Platinum Sponsorship of SuiteWorld 2024

Posted on by fortis2025

Fortis, a leader in embedded ERP payments, joins as Platinum sponsor of NetSuite’s annual user conference.

Dallas, TX – September 6, 2024 – Fortis today announced that it is a Platinum level sponsor of SuiteWorld 2024, Oracle NetSuite’s largest celebration for customers and partners taking place September 9-12, 2024 at the Caesars Forum in Las Vegas and On Air. This year’s theme is “All Systems Grow,” and the conference will focus on how the right technology – fueled by the power of AI – can help organizations accelerate growth, gain better insights, make more informed decisions, and boost their bottom line.

The event will feature four energy-packed days with keynotes from NetSuite executives including Evan Goldberg, founder and executive vice president; Gary Wiessinger, senior vice president of application development; and Brian Chess, senior vice president of technology and AI. The keynotes will unveil new product announcements and showcase how organizations are growing with NetSuite. 

At SuiteWorld, attendees will have the opportunity to learn how Fortis is elevating and enhancing the features of its embedded payment processing solution for NetSuite SuitePayments.

SuiteWorld will also include:

  • Success stories from organizations that have used NetSuite to gain the insights, control, and agility needed to adapt to changing market conditions and run their businesses better.
  • New announcements unveiling the latest advancements in AI and other new technologies to help customers leverage the suite to realize their goals faster and more efficiently.
  • Personalized training and learning sessions, with the opportunity to engage one-on-one with NetSuite Experts to receive insights tailored specifically to your needs.
  • Networking opportunities with NetSuite partners, customers, executives, and product experts in the SuiteWorld Expo.
  • An exclusive performance at The Party to celebrate the SuiteWorld community.

To learn more, please visit us at booth 913 in the SuiteWorld Expo.

About SuiteWorld

SuiteWorld is the industry’s premier cloud ERP conference of the year being held at the Caesars Forum in Las Vegas and On Air on September 9-12, 2024. This annual celebration of NetSuite customers and partners features a gathering of industry peers and product experts who run organizations leveraging the power of NetSuite’s integrated business system.

For registration and additional details, please visit www.netsuitesuiteworld.com. To join the SuiteWorld conversation on social media, please use #SuiteWorld.

About Fortis
Fortis is the leader in embedded payments for software providers, processing billions of dollars annually by delivering comprehensive payment solutions and commerce enablement to software partners and developers. The company’s mission is to forge a holistic commerce experience, guiding businesses to reach uncharted growth and scale. As the solution of choice for the future of payments, Fortis moves commerce closer to invisible with a proprietary platform that supports and strengthens the commerce and payments capabilities of software partners. For more information, visit fortispay.com.

Trademarks
Oracle, Java, MySQL, and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing.

Fortis Strengthens Collaboration with Sage Through New Features with Sage Intacct

Posted on by fortis2025

Fortis introduces new recurring payments and client sync capabilities, enhancing payment processing and streamlining operations for customers.

PLANO, Texas, August 27, 2024 /PRNewswire/ – Fortis, a payments technology leader for software providers, ERP customers, and scaling businesses, today announced new developments in their ongoing partnership with Sage, the leader in accounting, financial, HR and payroll technology for small and mid-sized businesses (SMBs), through new features with Sage Intacct that will enhance payment processing for customers. These features will simplify payment processes and streamline back-office activities, enabling clients to get paid faster and more efficiently.

“Fortis’ in-depth expertise in the ERP industry empowers Sage Intacct users to better manage their cash flow and optimize their operations. By introducing features like recurring payments and customer sync, we enable Intacct users to streamline their back-office processes, allowing them to focus more on driving their business forward,” said Chip Mahan, Global Commercial Head of Fintech at Sage.

New Features Enhance Efficiency and Accuracy

  • Multi Pay – Allows merchants to pull up a customer file and manually process payment for multiple invoices at once. This streamlines the management of invoices, ensuring consistency in billing, providing a more efficient workflow.
  • AutoPay – Customers can make payments with the click of a button. This adds another layer of convenience, enabling users to track which customers have set up payments. Businesses will have greater confidence in cash flow management due to better financial planning and reduced risk of missed payments.
  • Recurring Payments – This feature allows users to add new recurring payments and view existing recurring transactions, syncing these transactions with the Fortis Platform. This simplifies the management of recurring payments, ensuring automatic, fixed, timely payments, improving cash flow and offering predictable financial forecasting.
  • Customer Sync -Facilitates the synchronization of customer data between Fortis and Intacct. Any changes made in Intacct (or Fortis) are automatically updated in the bi-directional connection, ensuring accuracy and efficiency in customer management.
  • Transaction Sync -Provides comprehensive tracking of transactions between Intacct and the Fortis Platform. With detailed transaction data and status updates, users can enjoy enhanced transparency and troubleshooting capabilities, making it easier to identify and resolve any issues.

“The B2B market is in the early stages of digitization—not just the evolution of cloud ERP software. Sellers can now leverage the Fortis embedded commerce experience to improve sales and receivables in Sage Intacct, all while creating amazing buyer interactions,” said Greg Cohen, Fortis CEO.

Fortis stands out as a Sage Recommended Solution and leader in embedded ERP payments, consistently delivering innovative solutions that simplify merchants’ payment processes and expedite their payments. These new features underscore Fortis’ commitment to integrating the latest payment technology with industry-leading expertise to enhance the Sage Intacct solution and offer greater value to customers. To learn more or schedule a demo, visit B2B Integrations Team Bookings.

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Press Contact

Oliver Stephenson
Oliver.Stephenson@fortispay.com

About Fortis

Fortis is the leader in embedded payments for software providers, processing billions of dollars annually by delivering comprehensive payment solutions and commerce enablement to software partners and developers. The company’s mission is to forge a holistic commerce experience, guiding businesses to reach uncharted growth and scale. As the solution of choice for the future of payments, Fortis moves commerce closer to invisible with a proprietary platform that supports and strengthens the commerce and payments capabilities of software partners. For more information, visit fortispay.com.

Leave Legacy ERP Systems Behind: 5 Benefits Of Cloud-Based ERPs

Posted on by fortis2025

CFOs and small businesses are reluctant to shift to the cloud for many reasons. The familiarity of something that works is tempting. However, as cloud-based ERPs have become more widespread and affordable, they put several “benefits” of legacy software in question.

For example, one long-term belief is that legacy systems, especially on-premise systems, are more customizable and secure than cloud-based ERPs. But, that’s hardly the case. Customizing and maintaining these systems requires significant resources, including an in-house staff. Furthermore, it becomes the organization’s responsibility to keep up with rapidly evolving security threats and trends. Legacy systems also risk becoming obsolete or incompatible with new technology, and costs will only increase as the software and hardware are discarded.

But are cloud-based ERP systems significantly different? The ERP industry thinks so.

According to research, the cloud ERP market may be worth up to $73 million by 2026. In another survey of IT professionals, over half said investing in their ERP is a critical priority. Cloud deployments made up 44% of all implementations in 2019 alone.

There are good reasons why cloud-based ERPs have gained popularity over legacy systems. Below are five key advantages to switching to the cloud for your ERP system.

Increased Flexibility

On-premises ERP systems are very static. They must be installed, configured, and fixed locally. There must be a physical space to host the servers and likely someone in-house to manage it.

With the cloud, this is a moot point. One of the most profound benefits of cloud-based ERPs is their innate flexibility. Cloud-based ERP programs require none of these hassles or expenses. Employees can even use the software far from the office, from the comforts of home, or while on a business trip.

In a post-pandemic world still rattled by uncertainty, the flexibility of the cloud also allows businesses to maintain continuity, no matter what happens.

Reduce Costs

Another downside of legacy ERP systems is that they come with a myriad of costs, such as:

  • Hardware investments
  • Software licensing fees
  • Maintained costs
  • Consulting fees
  • In-house IT expert

They also require indirect costs, such as physical space for storage and time spent on internal training materials and onboarding.

Cloud-based ERPs, on the other hand, don’t require hardware, consulting, keeping an in-house expert, or even maintenance costs. There is no need for physical storage space, and most cloud-based ERPs have their own training materials.

Security and Redundancy

In our fast-paced technological world, security measures are constantly evolving. In legacy ERPs, it can take arduous amounts of time to update systems to the latest security measures, only for them to change again.

Cloud-based technology, however, offers both savings and peace of mind when it comes to security. Cloud-based systems often include periodic backups as a redundancy measure if you need to roll back changes. Many also manage PCI-DSS compliance for you, in addition to other regional or international payment requirements.

Best-in-class software solutions leverage security protocols such as tokenization to protect sensitive data. As a result, you can relax knowing that your organization and your customers’ information is secure.

Accelerate Processes

Similarly, legacy ERPs are often slow and don’t adapt well to changes where cloud-based systems are regularly being updated, with new partnerships constantly adding value to the software. When combined with key features like automation and paylink invoicing, it’s possible to dramatically accelerate slow manual processes.

Focus on High-value Tasks

Finally, the main benefit of a cloud-based ERP is the ability to streamline workflow and focus on high-value tasks. In other words, you can reduce the time and money spent on ERP maintenance and data entry and funnel that into payment strategy, new programs, and other revenue drivers.

Upgrade Your ERP Workflow

Through Fortis’ award-winning APIs, organizations can transform their ERP experience and shift to the cloud. Doing so empowers ERP users within any industry to streamline workflows, boost productivity, collect more payments, and attract new customers.

Learn more about how Fortis’ end-to-end payment system can revolutionize your business in a demo with our payment experts.

Boost Your Bottom Line and Increase Customer Success with Sage Intacct Payments 

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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.

Partner Spotlight: Everyware

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Everyware, a pioneer in contactless payments, and Fortis, a leading payments technology provider, have joined forces to revolutionize omnichannel commerce. This strategic partnership combines Everyware’s solutions and Fortis’ robust payment platform, empowering businesses to deliver exceptional customer experiences and drive growth. 

Founded by Austin Talley and Scott Orlinsky, Everyware is a leader in contactless payment solutions. The leadership team saw the future of payments early on. They foresaw the payments industry, whether in-person or online, developing new transaction methods, such as digital wallets or contactless payment technology. Eventually, plastic credit cards and similar outdated methods may be retired, but businesses that accept multiple payment methods would succeed in capturing consumer trust and building revenue.

Today, Everyware continues to innovate, delighting customers not only with high-powered contactless payment tools but also responsive customer service, in-depth analytics, straightforward usability, and training services. Through its partnership with Fortis, clients benefit from automated enrollment, faster cash collection, and seamless commerce through various channels. Its text-to-pay and real-time payment solutions are just a few tools that help B2B and B2C organizations boost revenue, improve cash flow, and reduce chargebacks and refunds. Together with Fortis, Everyware helps businesses across industries to meet specialized needs and develop powerful payment experiences. 

Are you looking to join Everyware in transforming payments and becoming the next Fortis partner? You too, can strengthen your AP/AR team with: 

  • Full, award-winning API connections 
  • Extensive software plugins 
  • Custom solutions 

Follow Everyware’s lead. Partner with Fortis and start making remarkable payment experiences.

Transform Your Business with Payment Plugins 

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In an era of rapidly advancing payment technology, plugins are often the easiest way for merchants and ISVs to streamline their payment strategy and boost revenue. They’re even known to positively impact consumer purchase intentions. But, what exactly are plugins, and how do they work?

In this article, we’ll discuss: 

  • What a plugin is and how it differs from an API 
  • How plugins can transform your business  
  • And, how to evaluate which plugin is right for you 

What are plugins (and how are they different from APIs)? 

A plugin is an add-on to a software solution that improves or expands its original capabilities. Usually, the plugin is third-party software that provides additional features, such as customization or automation of the original software’s capabilities. 

Plugins are often “no-code” solutions, meaning you can install them with one click or add them to your software with minimal effort. Official plugins are often listed on the original software’s website. For example, both Microsoft Dynamics 365 and Sage have app marketplaces to easily identify official plugins. 

You may have also seen the term API tossed around, which may seem interchangeable with plugins. But it’s not quite the same.  

API stands for application programming interface, and these solutions are typically used by two software applications to “talk” to one other. An API often requires custom coding and requires more effort for installation.  

That said, it’s common for best-in-class payment applications to offer both a plugin and API connection.

Plugins & Integrations

4 ways payment plugins will transform your business 

Plugins offer several key advantages to businesses such as installing new solutions quickly, optimizing processes, boosting security, and increasing performance. 

  1. Installing new solutions quickly: Plugins are very easy to install and manage. Often, they are one-click installations and require minimal maintenance. As a result, developers can save hours of time and focus their attention on other high-value tasks.  
  1. Optimizing and customizing your processes: Plugins extend a software’s capabilities, making programs more flexible and customizable. For example, if your organization wants to include digital wallet payments or loyalty payment points but the core ERP software does not offer them, a plugin can fill that gap.  
  1. Boosting security: Some plugins offer additional measures to safeguard customer data, such as tokenization and user permissions. This is a critical factor to successful online transactions—especially when payment data is involved. 
  1. Increasing performance: Finally, plugins may automate and streamline processes both for the merchant and the customer. Some examples include offering additional billing models and branded embedded payment options.

How to evaluate payment plugins and integrations 

As you can imagine, there are dozens of payment plugins for all major ERP and accounting software solutions. So, how can you determine which plugin is best for your business? There are a few ways to evaluate a plugin and see if it’s a good fit: 
 

  1. Features: The plugin should do what you need it to do. But you’ll also want a solution that can scale. Ideally, you’ll want a platform that offers a complete suite of payment solutions, so that your payment operations can grow along with your business. 
  1. Flexibility: How many programs can the plugin integrate with? This is a critical component of success. The more integration options, the more likely you can build a tailored solution to align with your long-term needs.  
  1. Security: When dealing with customer payment information, security is paramount. Any payment plugin you choose should use industry-leading technology and protocols, such as P2PE, SREDKey devices, and EMV card access. Ultimately, it’s important to look for additional fraud protections and whether the plugin is PCI-DSS compliant.  
  1. Global Support: eCommerce has revolutionized buying and expanded merchant access across borders. A best-in-class payment plugin will support new global capabilities. The more currencies and payment methods available, the better. 
  1. Customization: Finally, you’ll want the controls to ensure your payment plugin remains on-brand and aligned with your payment strategy. Each plugin will offer different levels of customization and it’s vital that you find a solution that makes sense for your specific business model.

Transform Your Business with the Fortis Plugin 

As an industry leader in payments, Fortis offers an advanced, flexible payment experience with its plugin solution. The Fortis plugin makes it easy to streamline payments, reduce liability, support growth, and design a custom payment process. 

Our plugin solution integrates with major ERPs and other software, such as: 

  • Sage 50 
  • Sage 100 
  • Sage 300 
  • Sage X3 
  • Sage Intacct 
  • Microsoft Dynamics 360 Finance 
  • Microsoft Dynamics 365 Business Central 
  • Microsoft Dynamics 365 Sales 
  • OPERA PMS 
  • Xstore POS 
  • Visual Matrix 
  • Adobe Commerce 
  • WooCommerce 
  • BigCommerce 

Ready to transform your business with a payment plugin? Get started with our Fortis Plugin solution today.

Fortis Expands Executive Team with B2B Expert Robert West

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Fortis continues to strengthen its leadership team and invest in the ERP ecosystem with the addition of Robert West, Executive Vice President, B2B.

PLANO, Texas, August 5, 2024 – Fortis, a payments technology leader for software providers, ERP customers, and scaling businesses, today announced the appointment of Robert West as Executive Vice President of B2B. With a proven track record in scaling accounts receivable (AR) and accounts payable (AP) payments businesses through partnership, West will spearhead Fortis’ B2B expansion.

Fortis has rapidly increased its footprint within the ERP ecosystem and continues to pick up momentum across the B2B landscape. By seamlessly integrating with industry leaders like NetSuite, Sage, Microsoft, Acumatica, and QuickBooks through a robust API, they have empowered businesses across diverse sectors to optimize their accounts receivable and payment processes. The Fortis Platform is also connected to leading eCommerce platforms and solutions providers in the ERP ecosystem. The platform provides a holistic and easy-to-integrate connection, with automated workflows for invoicing, collections, and other processes, freeing up merchant AR teams to focus on strategic initiatives.

“Robert’s deep experience in the payments industry, his success in creating win-win partnerships, and expertise in building high-performing teams make him an invaluable asset to Fortis,” said Greg Cohen, CEO of Fortis. “His leadership will be instrumental in driving our B2B strategy and will deliver exceptional value to our partners and customers.”

West brings nearly a decade of experience in mergers and acquisitions, revenue operations, and channel development to Fortis. He comes to Fortis from EBizCharge, where he successfully built and led teams that enabled the organization to grow their partner business by over 25%. Previous to that role, he was Vice President of Growth & Strategy for OnPay Solutions, an AP payments business, spearheading growth initiatives and their eventual sale to Medius.

“I am thrilled to join the Fortis team and contribute to the company’s continued growth,” said West. “Fortis has a strong foundation and a clear vision for the future. I look forward to leveraging my expertise to expand our B2B footprint and deliver exceptional value to our partners and customers.”

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Press Contact
Oliver Stephenson – Oliver.Stephenson@fortispay.com

About Fortis

Fortis is the leader in embedded ERP payments for software providers, processing billions of dollars annually by delivering comprehensive payment solutions and commerce enablement to software partners and developers. The company’s mission is to forge a holistic commerce experience, guiding businesses to reach uncharted growth and scale. As the solution of choice for the future of payments, Fortis moves commerce closer to invisible with a proprietary platform that supports and strengthens the commerce and payments capabilities of software partners. For more information, visit fortispay.com.

Fortis Acquires MerchantE’s NetSuite Division, Continuing a 20-Year Legacy

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The new acquisition strengthens Fortis’ leadership in embedded ERP payments.

PLANO, Texas, July 24, 2024 – Fortis, a payments technology leader for software providers, ERP customers, and scaling businesses, today announced its acquisition of MerchantE’s NetSuite payments division, marking a significant milestone in the evolution of embedded payment solutions. This strategic addition will help customers enhance the efficiency of their payment operations and accelerate the deployment of new, embedded financial and commerce enabling services.

The acquisition strengthens Fortis’ position as a leader in embedded ERP payments while reinforcing its commitment to ensuring dependable, hassle-free commerce experiences for customers. Since 2004, MerchantE has been a pioneer, driving payments acceptance within the NetSuite ERP ecosystem. Now with Fortis, the legacy is continued. MAPP Advisors, a fintech advisory firm, advised MerchantE on this transaction.

Current and future Fortis users can expect seamless activation and enhancements with zero programming or implementation costs. This means businesses can start processing payments or add new features when available immediately, with transactions automatically posting back to the general ledger for simplified use and accounting. Transactions are automatically reconciled, keeping all payment data in one place, making things efficient for end users.

“As we transition to the Fortis platform, I am truly excited at what this will mean for our customers and future customers. Our legacy users can expect the same great service plus new, enhanced features. We are excited to be a part of the next chapter of embedded ERP payment processing,” says Jeremy Collins, Vice President of Business Development and NetSuite Channel, Fortis.

Future forward, Fortis is committed to enhancing the current and future user payment experience with a host of exceptional features, including:

Expanded payment options and next-day funding capabilities for greater flexibility

  • Advanced Interchange Optimization including Level 2 and 3 processing
  • Click-to-pay invoicing and Accounts Receivable enhancements
  • Compliant Surcharging and routing preference capabilities
  • eCommerce and Shopping Cart integrations for omni-channel integrated support
  • Security and reliability including full PCI and SOC Compliance

“We are thrilled to continue the legacy established by MerchantE. As a leader in ERP and B2B payments, we look forward to expanding our investment in the NetSuite ecosystem with a robust pipeline of feature enhancements,” says Greg Cohen, CEO, Fortis.

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Press Contact
Oliver Stephenson
Oliver.stephenson@fortispay.com

About Fortis
Fortis is the leader in embedded payments for software providers, processing billions of dollars annually by delivering comprehensive payment solutions and commerce enablement to software partners and developers. The company’s mission is to forge a holistic commerce experience, guiding businesses to reach uncharted growth and scale. As the solution of choice for the future of payments, Fortis moves commerce closer to invisible with a proprietary platform that supports and strengthens the commerce and payments capabilities of software partners. For more information, visit fortispay.com.

Trademarks
Oracle, Java, MySQL and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing.

How to Future-Proof Your Manufacturing Business with Secure and Scalable ERP Payments 

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More than two-thirds of manufacturing CEOs consider upgrading the way they accept payments to be critical, and for good reason. An unpredictable global market highlighted the importance of steady cash flow in future-proofing operations.  

The pandemic years, for example, wrought havoc on supply chains, delayed payment collection, and forced businesses to innovate in order to stay afloat. Continued geopolitical conflicts and workforce shortages have further rattled the global economy. 

What comes next for the industry can be just as unpredictable. 

No one can foresee the future. However, many ways exist to mitigate risk, especially when it comes to protecting your payment system and revenue stream. Doing so can keep you ahead of the curve and make it easier to adapt to sudden industry shifts. Here are four ways to future-proof payments within your manufacturing software.

Two men working in a manufacturing workshop.

1.) Digitize and Integrate Your ERP 

Manufacturing operations, payments included, have only benefited from the advent of digitization. But going digital isn’t enough.  

Today, manufacturing organizations looking to strengthen their stability and financial standing must go further than having a digital payment process. Most ERP software, such as Sage, NetSuite, or QuickBooks, integrates with multiple solutions, from payment processors to order status and inventory modules. The shift towards creating a unique process through added APIs and other software breaks down silos and makes having full visibility over every order easier than ever.  

In terms of payments, integrations enable accounts payable (AP) and accounts receivable (AR) to better evaluate and strategize their payment process.

2.) Leverage Embedded and Real-time Payments 

At the beginning of the digital revolution, manufacturers could leverage invoicing, but much of it was a multi-step process done by a third party. Now, manufacturers have much more control over the process with embedded payments.  

For example, with Paylinks, also known as click to pay, customers can now pay their invoices by simply hitting a button within an email or text sent to them. They can securely save their payment details through a portal that matches the manufacturer’s brand.  

Furthermore, they can leverage alternative payment methods, such as real-time payments, to improve their relationship with suppliers. According to a recent PYMNTS report, 91% of manufacturers believe real-time payments improve relationships with suppliers, and 86% see implementing real-time payments as a priority.  

3.) Stabilize Cash Flow with Recurring Billing 

Another way to future-proof your payment process is through recurring billing. For repeatable B2B payments, it can be helpful to offer a recurring or subscription-based payment option. This reduces the time and energy customers spend filling out invoices while making it easier for you to forecast revenue streams.  

This steady flow of income eases constraints on cash flow. As a result, manufacturers can better save and prepare for potential disruptions or position themselves for growth.  

4.) Optimize Your Processes with Automation 

Finally, automated systems are key to efficiency, with one of the major benefits translating into faster payment. Accounts receivable automation, in particular, can significantly reduce Day Sales Outstanding (DSO). Lowering the average number of days to payment leads to better cash flow and more time for other activities. 

Automating your AP/AR processes allows your payments team to focus on high-value items, such as strategy, customer onboarding, supplier verification, and procurement. Many tasks can be automated and synced to optimize accuracy, transparency, and more.

Future-proof with Fortis 

The best way to protect your organization from uncertainty and potential risks is through ensuring a steady stream of revenue and staying on top of payments. To do that, it’s vital to transform your payment process into a competitive advantage through automation, scalable integrations, and more.  

Fortis’ award-winning APIs enable manufacturing organizations to streamline their payment strategy through automation and essential growth features. No longer chasing invoices, AR teams can focus on unlocking revenue opportunities, strengthening supplier relationships, and scaling their service offerings.  

Contact our team of payment experts and find out how you can future-proof your manufacturing ERP payments today. 

Five Red Flags to Consider When Looking for a Sage 50 Payments Solution 

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Running a business is all about efficiency. Sage 50 software allows businesses to streamline their accounting processes, capture more revenue, and remain compliant. A Sage 50 payment integration should be just as efficient and embed seamlessly into the software. The last thing you need is a payments solution that creates headaches instead of streamlining your workflow. 

That’s why it’s important to investigate each payment processing solution thoroughly. The integration you plug into your system should improve cash flow, automate manual processes, and ensure secure data compliance. 

But, as you know, not all payment solutions are created equal. So, in this blog, we cover five common red flags to be wary of when considering a Sage 50 payments solution. 

Red Flag #1: Long-term contracts 

Don’t get locked in. While a long partnership is ideal, you don’t want to be stuck with an ill-fitted solution. Longer commitments make it difficult for merchants and organizations to negotiate terms and fees.  

Pay-as-you-go, no contract solutions exist, and they are often preferable.  

Red Flag #2: Non-PCI compliant solutions 

Any payment solution you use should be PCI-compliant – end of story. Sensitive customer data is involved when accepting payments, and you don’t want to leave yourself open to liabilities. Even more, non-compliance fees can drain your financial reserves, with penalties as high as $10,000 a month.   

Red Flag #3: Manual payment collection 

Your integration should never require you to chase down customer payments. Constant follow-up on unpaid customer invoices drains your time, cash, and resources. The right payment processor should have the right tools in place to combat this. 

Tools like click-to-pay invoicing embed payment links in emails and text messages to streamline payments. Other solutions like autopay create automated follow-ups and recurring payment options.  

Red Flag #4: Non-customizable solutions

Payments isn’t a “one-size-fits-all” industry, and most businesses need to tweak their payment solution to match their strategy. A best-in-class payment processor should have deep, dynamic APIs that promote customization. APIs should be user-friendly, comprehensive, and have ongoing developer documentation. 

Red Flag #5: Non-certified Sage Solution

Finally, most important of all, your payment solution should be Sage certified. As a Sage 50 user, you want to ensure your payment solution has been vetted by the program itself. If a payment solution isn’t loudly proclaiming its certified status, it’s best to turn the other way.  

Transform Your Sage Payments with a Certified Solution 

With its award-winning APIs and detailed developer documentation, Fortis is a leader in Sage integrations. Being both a Plus Tier Sage Tech Partner and Sage Recommended Solution, our team of seasoned experts and developers deliver a best-in-class Sage 50 integration to streamline payment processing.  

Fortis has no red flags. Enjoy features like: 

  • Click-to-pay invoicing 
  • Level 2 and 3 data enrichment 
  • Next-day funding 
  • Acceptance of all payment types 
  • Flexible pricing options 
  • And, a dedicated ERP support team 

Discover the Fortis difference, yourself. Contact us today or check out our integration in the Sage Marketplace.  

QuickBooks Users: How a Best-in-Class Integration Boosts Your Cash Flow 

Posted on by fortis2025

Every business owner knows the struggle of chasing down payments from customers. It disrupts your workflow, creates unnecessary stress, and can even hinder your ability to operate smoothly. So, what can you do to eliminate the struggle? 

The answer is simple – leverage a best-in-class payment integration. A best-in-class payment integration for your QuickBooks accounting software can not only help manage your cash flow, but also help improve your business’ operations. In this blog, we discuss the top three benefits of choosing the right payment integration for QuickBooks. 

Benefit #1. Lower Your Costs: 

  • Reduced Fees: Forget those hefty processing fees that eat into your profits. Best-in-class integrations can secure you cheaper rates, including lower per-transaction costs. 
  • Surcharging Power: Offer customers the option to cover a small convenience fee for credit card payments. This allows you to offset processing costs and keep your margins healthy. 
  • Level Up Processing: Unlock the benefits of Level 2 and 3 processing by submitting additional data with each transaction. This can lead to even more significant reductions in processing fees. 

Benefit #2. Get Paid Faster with Streamlined Invoicing:

  • Digital Revolution: Ditch the paper chase! Modern integrations allow you to send invoices electronically via email or text message. This ensures faster delivery and eliminates the delays associated with snail mail. 
  • Autopay for the Win: Make life easier for your customers and yourself by offering them the option to set up automatic payments. This means you get paid on time, every time, with minimal effort. 
  • Transparent Communication: Clear and detailed invoices ensure your customers understand exactly what they owe, reducing confusion and encouraging prompt payment. 

Benefit #3. Embrace the Power of Payment Flexibility: 

  • Your customers have preferences. A best-in-class integration lets you safely accept a wide range of payment types, including credit cards, debit cards, ACH transfers and more. This allows customers to pay how they want, leading to a smoother checkout experience and higher sales conversions. 

QuickBooks Integration Made Easy: Streamline Your Business with Fortis 

Looking for a best-in-class integration that seamlessly connects with your accounting software? Look no further than Fortis! Our powerful solution integrates effortlessly with QuickBooks, allowing you to: 

  • Automate Tasks & Save Time: Say goodbye to manual data entry! Fortis automatically syncs transactions with QuickBooks, freeing you up to focus on strategic initiatives. 
  • Gain Real-time Insights: Access up-to-date financial data anytime, anywhere. This empowers you to make data-driven decisions and identify growth opportunities. 
  • Scale with Confidence: As your business grows, Fortis scales with you. Our robust platform can handle increasing transaction volumes without skipping a beat. 

Don’t just manage your cash flow, unlock your business’s full potential with Fortis and a seamless QuickBooks integration. For more information and to get started, visit our website. 

Fortis CEO Predicts ‘The Great Restoration’ for the FinTech and Payments Industry

Posted on by fortis2025

Embedded payments leader lays out the future for FinTech after a period of hypergrowth.

PLANO, Texas, May 15, 2024 /PRNewswire/ — Fortis, a payment and commerce technology leader for software providers, marketplaces and scaling businesses, shares CEO Greg Cohen’s predictions on the future of payments and financial technology amid significant industry shifts with the beginning of what Cohen has coined “The Great Restoration”.

After a long period of rapid investment and growth, payment and financial technology companies must transition towards a more sustainable and profitable business model, leaving behind supersized valuations, irrational business models, and free-flowing investment funnels. According to E&Y, there are more than 50,000 existing VC-backed startups which need to sort out high valuations and low liquidity. Many businesses now find themselves ill-equipped to build lasting business models.

“The coming months will be crucial for the future of payments. Companies that are built on a solid foundation and embrace focus, discipline, and strategic growth will be well-positioned to weather the storm and emerge stronger; others will find these times a real challenge,” says Cohen.

Recent headlines confirm this trend. Valuations in the payments industry have dropped significantly, some by as much as 50%, with even established players experiencing depressed valuation multiples not seen since the post-financial crisis era. While experts don’t anticipate further interest rate hikes, a return to the low rates of 2021 is unlikely. Combined with increased regulatory scrutiny and a challenged fundraising environment, general investment sentiment in financial technology has soured. These challenges have already led to FinTech failures, M&A activities below capital raise levels, and depressed market valuations across a spectrum of segments.

Looking ahead
Akin to the aftermath of a natural disaster, the industry finds itself in a restoration period. The weaker homes and businesses are wiped away, but structures with solid foundations mend their fences and move forward with renewed respect for their infrastructure. Replacement homes are built to new, updated codes, and fortified to withstand the demands of the new world.

Similarly, scaled incumbents have shut down or shed non-core assets. The industry is seeing weaker businesses be filtered out while established players are doubling down on core competencies and building strong financial discipline.

“The Great Restoration” forecasts several trends to come:

  • More Cash Struggles – Thousands of cash-burning businesses will need capital, prompting a strong push from boards and investors to show profitability. These companies must carefully manage their operating expenses while exploring ways to improve margins from existing customers.

  • More Divestitures – Organizations will prioritize their core business operations and, due to limited equity or cash availability, will need to divest non-essential assets.
     
  • Rise in Mergers and Acquisitions – Strategic shifts within businesses will lead to softer valuations and discussions around relative value, creating opportunities for mergers and acquisitions among industry players.
     
  • More Failures – Cash-strapped organizations without a buyer or investor will result in a shutdown of business operations.

  • Emphasis on Sustainable Business Models – The “growth at all costs” or “grab some users to get the next funding round” models will no longer be tolerated by boards and investors. Companies will need to launch business lines with a hard look at break-even and ROI.

  • Increased Focus – Payments and fintech firms will concentrate on their core competencies and drive profitability from core operations before expanding into new areas. Gone are the days of pursuing multiple sub-scale ventures simultaneously for capital and resources.

“We’re just at the beginning of the Great Restoration – some will make it, some won’t. Be really wary of your partners, as great changes are ahead in the next year-to-year and a half,” says Cohen.

Silver Lining
Ultimately, the Great Restoration will create a more resilient payments and FinTech ecosystem. Businesses built on solid foundations with proper compliance and financial disciplines will remain strong. And opportunities will arise for established players and new entrants to find some strategic assets to acquire, foster long-term growth, and deliver outsized returns.

To stay up to date on ‘The Great Restoration’, visit us at fortispay.com and follow Greg on LinkedIn.

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Press Contact

Oliver Stephenson
Oliver.Stephenson@fortispay.com

Greg Cohen, Fortis CEO
Currently serving as the Chief Executive Officer of Fortis, Greg is a recognized payments and financial technology industry leader with a history of building high-performing teams and driving growth at numerous FinTech organizations. He is the past president of the Electronic Transactions Association and former member of MasterCard, Discover and NACHA advisory boards. As CEO of Fortis, he is responsible for the strategic direction and business operations of the embedded payments company. Fortis’ mission is to create amazing commerce experiences in partnership with software providers, and under Cohen’s leadership, the organization has grown over 10x.

About Fortis
Fortis delivers comprehensive payment solutions and commerce enablement to software partners and developers, processing billions of dollars annually. The company’s mission is to forge a holistic commerce experience, guiding businesses to reach uncharted growth and scale. As the solution of choice for the future of payments, Fortis moves commerce closer to invisible with a proprietary platform that supports and strengthens the commerce and payments capabilities of software partners. For more information, visit fortispay.com.

Building A Customer Experience: The Fortis Approach to Partner Success

Posted on by fortis2025

Your payment experience can make or break your business.

According to a recent PYMNTS study, 55% of shoppers get so frustrated with the checkout process that they abandon their purchase. Unsurprisingly, the outlook isn’t much better for B2B organizations. Small to medium-sized businesses (SMBs), would be willing to pay up to an additional 1% per transaction for payment relief due to frustrating accounts receivable and payable experiences.   

End-to-end platforms like Fortis provide the solution enabling businesses to grow operations and reduce payment friction, thus improving the customer experience. In this blog, we discuss how poor payment experiences can affect your business and how to improve the process for your customers.

Poor Payment Processing = Bad Customer Experiences = Less Revenue

A subpar payment process can be lethal to your business. This experience often stems from disjointed legacy systems and a lack of control over the payment system.   

Legacy payment and ISV software systems that do not integrate with each other create significant friction for merchants. This disconnect obscures critical data from businesses while creating frustration for customers through a lengthy, complex, or even broken checkout process. Resulting in lost customers and income potential. Additionally, many businesses struggle with a lack of payment software customization.   

“Plug-and-play” platforms do not offer significant human support. The lack of a human relationship makes it more challenging for ISVs to develop a seamless and unique payment experience. This is why a customizable, seamlessly integrated payment processing platform is essential to your business’ growth and revenue.

Creating a Remarkable Payment Experience with Fortis

A frictionless payment process hinges on tailored solutions backed by cutting-edge technology. The right solution enables businesses to build a custom payment process and integrate it with current software and other financial systems. Such a system is rarely built in isolation or plug-and-play, and seldom addresses the human experience in a transaction .   

For truly optimized payments, it is helpful to work with a dedicated expert who understands the nuances of both your industry and your chosen payment solution. A best-in-class platform like Fortis will ensure you have an expert to work with when creating your payment workflow with proven strategies and a personalized approach 

Turnkey solutions offer industry-specific features and transparent payment data and pricing. Automation and security controls improve record-keeping and streamline business processes without slowing down or sacrificing data quality.

Partnerships, benefit ISVs and businesses looking to scale quickly. For example, the Fortis partnership program offers several services to streamline payment optimization and solution implementation, including:  

  • Access to dedicated and certified expert Guides  
  • Customized roadmap  
  • Go-to-market sales and marketing tools  
  • In-depth reports with real-time insights  
  • Underwriting and risk support  

  

A unique “Platform-to-Platform” model, such as Fortis’, enables ISVs and businesses to create personalized experiences based on their industry and unique requirements. With the help of dedicated professionals, businesses can leverage Fortis’ expertise to easily implement nuanced solutions without focusing on the technicalities internally. Known as Guides, these payment experts help organizations develop customized roadmaps, implement them, and answer additional questions or concerns related to the payment experience.

Turbocharge Your Payments

The Fortis platform is an end-to-end payment solution for businesses looking to scale. Its embedded payment features and ISV software integrations allow customers to experience a seamless payment process while improving transaction data accuracy. Businesses can leverage features like text-to-pay, loyalty programs, and alternative payments. Fortis’ award-winning APIs and extensive customization options ensure businesses and ISVs can develop an optimized and user-friendly payment workflow.   

Above all, the Fortis difference lies in its commitment to human relationships and its software partners. Our team of payment experts works with businesses and developers to design truly remarkable payment experiences. Through our platform and payment industry expertise, the dedicated professionals at Fortis collaborate with our partners to build a tailor-made payment experience roadmap.

Looking to start creating remarkable payment experiences? Learn more by contacting our expert Guides today.   

Transforming the Payments Industry: ETA TRANSACT 2024 

Posted on by fortis2025

At ETA TRANSACT 2024, Fortis had the privilege of sharing thoughts and insights gleaned from decades of industry experience. We greatly appreciated our time at this premier event as our team discussed the future of the payments ecosystem and how embedded payments have revolutionized the industry.

In case you couldn’t attend, here’s a recap of some of our sessions:

The Power of Embedded Payments and How to Maximize Value Greg Cohen, CEO

Fortis CEO Greg Cohen shared his expertise in payments and embedded commerce in two high-impact sessions.

  • In What is Embedded Commerce? More Than You May Think, Greg discussed the future of embedded commerce with Dan Williams, SVP of Embedded Banking at Key Bank. They discussed how merchants and ISVs often struggle to keep up with rapid changes in the payments landscape. They may even view embedded payments as the latest iteration of a new passing technology. But embedded payments are more than a passing trend—they have implications for the entire industry.
  • Greg also engaged with Jim Battista from MAPP Advisors and the Head of Corporate Development at Payroc, Marcus Dagenais, in The Anatomy of a Payments 2.0 Deal. In this session, Greg delved into the most recent acquisitions made by Fortis and how entrepreneurs can maximize their value in today’s market.
From left to right: Marcus Dagenais, Jim Battista, and Greg Cohen

How Embedded Payments are Transforming the Industry: Timmy Nafso, EVP

Fortis Executive Vice President, Timmy Nafso, is a Co-Founder with over a decade of experience in payments, He also hosts the Embedded podcast and interviewed many industry experts for the series at TRANSACT.

Timmy also did a deep dive on embedded payments in the session, The Evolution of Embedded Services. Together with Austin Talley, CEO of Everyware, he covered the history of embedded payments and how they are fundamentally changing society’s relationship with money and financial services.

Timmy Nafso on the left, and Austin Talley on the right

Practical Approaches to AI: Kevin Shamoun, SVP

Currently serving as the Senior Vice President of Product and Innovation at Fortis, and as the Vice Chair of the Artificial Intelligence Committee by ETA, Kevin Shamoun also founded Zeamster and has over 20 years of experience working with major Independent Service Organizations (ISOs) and financial institutions.

In a panel titled AI & Payments: Real-World Use Cases, the Hype & What’s Ahead, Kevin explored new advancements in AI models and how they have transformed the payments industry. He discussed this topic alongside Donald Riddick, the Chief Legal Officer and Company Secretary of Featurespace; Rebecca Alter, Trust and Safety Architect at Sift; and Russel Moore, Director of Corporate Strategy and Development at Global Payments.

From left to right: Donald Riddick, Kevin Shamoun, Russell Moore, and Rebecca Alter

Work with the Experts! Transform Your Payment Processing with Fortis

Embedded payments is more than a buzzword—it represents a milestone in payment technology. As a leader in embedded payment solutions, Fortis has developed a transparent, custom, and high-powered payment process for merchants and ISVs. Through their sessions, Greg, Timmy, and Kevin, offered a holistic view of the industry landscape—from embedded technology to acquisitions.

Let us help transform your payments experience into something remarkable. Discover the Fortis difference for yourself with our award-winning embedded payments API, today