What Great Reporting Tools Can Do For Your Business
Have you ever wondered what reporting can really do for your business?
I know, I know, reporting is by no means an exciting topic but you can trust me when I tell you that reporting can exponentially benefit your business when used optimally.
So sit back, grab a snack and let’s embark on a quest to learn about what exactly these tools are and how you can really apply them to your operations. Let this be your guide for making reporting tools easy to understand & implement so that you can experience the magic in your business as soon as possible. From how a robust reporting system can revolutionize the way you manage your business to the plethora of features designed to streamline your processes, we’ll explore the ins and outs of reporting for your business.
Commonly, reporting tools can be seen as expected add-ons that come as a package deal along with your payment gateway software rather than the indispensable assets that they have become for growth and efficiency in your business. But not long ago, businesses had to do all of their reporting, record keeping, batching and number crunching by hand. Leaving plenty of room for human error amidst the hours of calculations and copying down transaction information. Thanks to the advancements in the industry, gone are those days of relying on our own calculations. We now have access to automated, secure and instant, real-time reporting analytics at the simple click of a button. Yay technology!
Before we dive in deeper, I think it’s important to mention that reporting isn't just about numbers– it really can be the key to unlocking untapped potential, making informed decisions, and propelling your business towards success.
So, you might be thinking, “Ok reporting sounds great, Chelsea, but what are these magical features you speak of? And what makes them so much better than the tried and true bookkeeping methods we already use”
You’ve come to the right place!
Let’s look at 5 of the impactful ways that reporting tools have the power to transform your business and make your days easier than ever.
Real-time Analytic, Anywhere, Anytime
No matter what time of day it is, instantly access all of your transaction data whether you want to see a single transaction or analyze trends. Experience a real-time view, whenever needed, into transactions from all of your channels. Need a customized snapshot into specific transaction data or trends in your business? Using the advanced search options and filters, access whatever you’re looking for at the click of a button. Set up end-of-day reports for settlement data using the automated batching and transaction summary features and have them delivered securely to your staff each day. While handling these tasks in your business by hand has worked for your business this far– you can now save yourself hours of time and room for error by setting up automated reporting tools.
2. Making Invoicing, Automated Payments, & Tracking a Breeze
You may not think of invoicing as a “reporting” tool but hear me out here. With reporting tools integrated into your payment gateway software, you can generate customized invoices, TextPay invoices, and recurring payments, effortlessly tracking payments and outstanding balances. This level of diligence and transparency not only enhances your accounting but also fosters trust with your clients, showcasing professionalism and reliability. I mean, who doesn’t want to make that kind of impression and build lasting relationships with their customers? Truly, it’s not just about invoices or automated payments – it’s reporting tools that automatically track your invoice cash flow and run the accounting elements of your business behind the scenes. Allowing you the time and brain space to direct your full focus on the parts of your business that you’re best at.
3. Effortless Integrations
Do you spend countless hours transferring and organizing accounting information into Quickbooks and/or Excel spreadsheets? Reporting tools can now do that work for you! Let the automated reporting features keep track of everything and seamlessly integrate your accounting software saving you more time, money and headaches when it comes to managing the finances in your business. Keeping your bookkeeping processes organized, accurate and smooth has never been easier.
4. Seeing Into the Future
Reporting won’t magically make you a psychic but it does make it easier than ever to see into the future of your business giving you leverage on upcoming sales trends. Reporting tools equipped with forecasting capabilities allow you to plan ahead and anticipate upcoming demands and challenges in your business, making a massive impact on minimizing risks and maximizing opportunities. Sounds like a win, win if you ask me!
5. Security is Key
Let’s face it, security in the payment technology world is imperative. Before virtual reporting, much of our transaction history and analytics may have been written down or on easily accessible excel sheets. With a PCI compliant dashboard, advanced encryption, user access-rights, two-factor authentication and secure data storage, your business can operate with complete confidence, trusting that any sensitive information is protected. Automatically apply subscription or recurring payments with card tokenization while maintaining your business’s cash flow and protecting your customers data. Apply an extra level of security of sensitive payment information by managing employee access to the payments and reporting tools.
Conclusion
Reporting tools are pretty awesome, don’t you think?
Now that you’ve made it this far, it’s easy to see what taking full advantage of your reporting tools can actually do to optimize just about all aspects of your business– even the ones you may not have imagined! Honestly, reporting is much more than a tool, it’s a key asset in your professional arsenal improving the experience you, your employees and your customers have with your business.
Not using a payment gateway software that provides you with bulletproof reporting tools yet? Well, you’re in luck!
At Cardnetix we’re dedicated to providing the best payment solutions that are guaranteed to make receiving payments and organizing accounting data simple, effective and met with unrivaled customer service from our team of devoted agents. We’d be honored to support you and your business in all of your payment needs!
