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As a supply company, there are numerous aspects of a business that needs constant attention and time. From managing your employees to regulating your inventory to assisting your consumers, each aspect of your company needs to perform at its highest capacity to ensure sales and generate revenue. Therefore it is important to have key areas of your supply process be optimized for optical effectiveness, one of which is ensuring your packaging solutions are reliable and effective.

Many supply companies rely on a partner to provide the expertise and resources for upholding their packing needs. Packaging Distributors of America (PDA) partners with companies to provide custom packaging solutions for quality and reliable packaging solutions. PDA gives companies the ability to improve their supply chains by reducing the burden of packaging details.

A partnership for PDA members is built on the desire to streamline their supply chain, ultimately to increase revenue. It is designed to offer value to both PDA and the supply company through a shared partnership. Yet, with the goal to maximize efficiency from start to finish, there is often a hindrance with managing the purchase orders (POs) and processing payment transactions.

You need to be able to track purchase orders at each step of the procurement process in order to ensure the transactions were successfully completed and have a comprehensive reporting system. From tracking what products were purchased, how much each where, and what has been delivered, or not delivered, is a complex process that manual spreadsheets or outdated systems are not equipped to handle. Instead, having an automized system to track the POs as well as generate reports significantly increases efficiency and reliability.

Automated tracking and reporting system gives back time and money to your business as well as improves your overall supply chain. It removes the manual labor of updating copious spreadsheets saving an enormous amount of time while eliminating potential human error. It enables your business to produce customized reports to quickly view only the information you need for a quick turnaround.

Additionally, as the number of purchase orders increases, both in quantity and quality, so do the number of payment transactions. Which extends beyond just transactions with partners but with customers and clients as well. With the countless number of transactions your business processes, it is essential for your merchant processing to be geared towards your company. This includes ensuring your company is not being charged with unnecessary fees, using the correct payment processing level, offering a superior user experience, and centralizing all transactions in one place.

Credit card and payment processing fees add up extremely quickly, although oftentimes these fees could be reduced or discarded. The primary solution is ensuring your company is operating at the appropriate payment processing level. The different levels of payment processing are reliant on if your company is business to business (B2B) or business to consumer (B2C). As a B2B company, you collect more information when processing payments, therefore mitigating the risk of fraudulent loss. The lower risk means lower fees, which is referred to as Level III. In contrast, companies that collect less information during transactions, such as B2C companies, increase their risk of fraudulent activity, therefore, increase their fees; this falls under Level I or II. Just by operating at the correct payment process level you could reduce the associated fees.

In addition, having a shopping experience that is simple to navigate and easy to use will support the potential consumer or client along the buying process. A positive user experience allows for an enjoyable interaction with your company that can capture future retention.

Many businesses process transactions at different locations or devices and accept different forms of payment which makes managing all the transactions extremely difficult. Yet by centralizing every face of your merchant processing into one location, it makes managing and analyzing unquestionably easier and more efficient.

For companies in the service industry that use partnerships, such as Packaging Distributors of America, and process payments, you could be saving a considerable amount of money, time, and resources just by revamping your merchant processing.

Evolve Payment assists with purchase order management as well as reduces the burden and cost of merchant processing which enables efforts to allocated to more profitable endeavors. Get in touch with Evolve Payment to learn more!

Post Author: Karlee Onstad