What can technology do for SMBs in the new year?
December 30, 2013

Small and midsize companies that resolve to embrace credit card processing technology in 2014 can expect to have a strong advantage over their competitors. Traditional business models have changed rapidly over the last several years. Similarly, consumer behaviors have evolved in such a way that the average shopper now has high expectations for convenience when interacting with a brand in any industry.

While many small firms have been reluctant to incorporate new technology into their operations in the past, today's innovations have essentially leveled the playing field when it comes to boosting payment processing efficiency. Managers should consider the following advantages of investing in updated transaction management systems:

Enhanced flexibility
Enterprises no longer have to be confined by fixed point of sale technology. In fact, Entrepreneur magazine said the latest advancements in mobile POS tools have made it easier than ever for business owners to make the payment experience more dynamic and flexible. As a result, companies can safely accept credit cards from virtually any location. Brands can use this newfound freedom to ultimately increase revenue in the long run.

Maximizing operational convenience
Additionally, integrated payment systems can eliminate many of the most time-consuming elements of back office financial processes. Offering a variety of transaction processing options may appeal to consumers who want to be able to purchase products and services from their preferred channels. However, the real convenience occurs on the business end of the spectrum. Fox Business said enterprise owners should be ruthless in their efforts to maximize efficiency in the workplace. With the right technology, managers no longer need to worry about the difficulties of keeping track of financial information. Payment integration tools will cover all of these responsibilities with relative ease.

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