Innovative Office Solutions is a leader in workplace productivity solutions, including office essentials, furniture, cleaning supplies, technology solutions, and more. A certified women-owned business, Innovative Office Solutions is an active participant in local community programming. Although based in Minnesota, Innovative has a nationwide distribution network.
Although Innovative Office Solutions were pleased with their existing merchant processing partnership, they contacted the Evolve Payment team to act as a second set of eyes for their account. Their merchant processing provider claimed that Innovative’s rates were regularly reviewed to guarantee they were receiving the lowest and most competitive price structure available. Looking to confirm their provider’s statement, Innovative requested a review of their merchant account by Evolve Payment.
Their company was growing quickly, so the cost analysis and potential partnership transfer needed to be seamless with flawless execution and zero downtime. Additionally, Innovative wanted assurance that they’d receive immediate and constant customer support with a customer service experience that gave them faith in their new merchant environment.
Innovative sent the Evolve Payment team three consecutive months of merchant processing statements for the cost analysis. After conducting a detailed pricing analysis, our team discovered that there were significant savings opportunities in Innovative’s merchant account. The largest opportunity for savings was in Innovative’s interchange rate. Their existing processor failed to achieve a true level 3 pricing structure in Innovative’s payment processing. As a result, Innovative was paying high processing fees because of their existing processor’s interchange mismanagement. Another opportunity for improvement in Innovative’s merchant account was in their PCI Compliance scanning process. Initially, there were challenges with maintaining PCI Compliance because of inefficient monitoring. Our PCI DSS team assisted Innovative with process improvements to ensure they had access to the correct PCI scanning solution.
After evaluating the audit findings and subsequent proposal, Innovative decided to terminate its partnership with its existing merchant service provider, and transfer its merchant account to Evolve Payment. The transition to Evolve Payment was seamless, and Innovative was able to continue operating as normal with zero downtime. After the transfer was complete, Innovative received a new and fully-integrated merchant processing package with level 3 credit card processing, along with continuous custom reporting and troubleshooting if any issues arose. Innovative’s new merchant processing systems were also integrated with their existing ERP and CRM software, so no internal processes or software changes were required. As with every merchant, we also scheduled 30, 60, and 90-day reviews with Innovative to guarantee their questions were answered and their needs were met.
Innovative realized significant financial savings from the transition to level 3 credit card processing. They continue to save over 20% on processing fees through our ongoing partnership while operating a PCI Compliant Ecommerce store. In addition to savings from processing, they’ve also benefited from an improved ticket process. After partnering with Evolve Payment, Innovative’s customer service representatives could release funds immediately and now have the capability to raise the high ticket ceiling for a better customer experience. This gave Innovative faster access to large sums of money, increasing their overall cash flow.
The Evolve Payment team continues to have a great working relationship with Innovative’s accounting team and the organization as a whole. We’re continually providing customer support and managing their interchange rates to maximize their savings. If you’re interested in learning more about how we evolved Innovative’s merchant account, get in touch with our team today. We’ll take your account through the same process and save you up to 40% on your processing fees.