When operating a government organization, fragmented accounting processes can create excessive stress and increase your team’s workload. While this issue is apparent and pressing, many government agencies and departments are still trying to make their disconnected systems work.
Operating uncentralized systems, while common, is not the way to run an efficient organization. When it comes to billing and payment processes, it’s more important than ever to use a solution that seamlessly integrates with your accounting software.
Relying on outdated payment processes can severely impact your revenue and cash flow. Incorporating an integrated system can solve problems for your internal team and the citizens you serve.
Learn more about CORE Integrations for POS, ERP, CRM, and More.
The Issue With Fragmented Processes
Many organizations make the mistake of ignoring billing systems when overhauling their processes, but this can be detrimental to the overall constituent experience. Using outdated, inefficient, and fragmented billing systems creates frustration for your staff and the public they serve.
Your accounting team may be significantly affected by outdated and fragmented billing platforms. These systems can make it difficult to accomplish essential daily accounting tasks, such as:
- Managing your accounts receivable (AR)
- Reviewing your general ledger (GL)
- Completing end-of-day reconciliation
Relying on a fragmented system can hinder performance. When you have a payment processing platform that is integrated with your accounting software, you can enjoy the benefits of a connected workflow.
On the other hand, if you’re struggling with a fragmented workflow, there are some potential problems that could arise.
Lack of Security
When citizens hand their payment information over to government organizations, they expect a high level of trust and security. If your online payment portal is uncentralized and disjointed, that trust can evaporate quickly.
Compliance issues can escalate rapidly, which is another reason you should prioritize security in your organization’s payment system. When managing the kind of sensitive information in your accounts, you need an increased level of security.
Lack of Convenience
A lack of convenience and trust in the billing process can encourage citizens to make late payments (or to miss them altogether). This can cause serious disruptions in your cash flow and revenue management. Providing essential services to your citizens is challenging when cash flow is interrupted.
Human Error
Fragmented systems often rely on manual labor to transfer data from one system to another. But putting hours and resources into manual data entry comes with a host of potential issues. Humans are prone to error. If a large portion of your billing process relies on manual data entry, you’re bound to have a few errors in the reporting process.
During tasks such as revenue reconciliation, your accounting software needs to communicate with the rest of your payment processing system. Instead of relying on your team to accurately connect all of the dots, an integrated payment platform can seamlessly facilitate communication between your accounting software and the rest of your tech stack.
The Benefits of a Payment Solution That Integrates with Your Accounting Software
Having an integrated billing and payment solution can transform your organization’s daily operations. Transcending fragmented systems can mean entering a new era of leveraging advanced technology to streamline your entire billing and payment process.
A connected payment platform is the answer for those wondering how to integrate their POS with their website or what an integrated business process looks like with ERP systems.
Here are three benefits of using a payment solution to integrate with your accounting software.
Faster Time to Revenue
Government organizations that still rely on outdated processes to carry out their daily billing operations (such as collection, data entry, payment processing, and reporting) are at a disadvantage. If your current payment systems take too long to execute actions, it creates bottlenecks.
This is where an integrated solution comes into play. By integrating payments, processing and reconciliation, you can ensure your constituents have the smoothest experience possible.
Easier Data Entry with Automation
Automation is one of the most critical features to leverage in your integrated digital payment processing platform. When searching for the right platform for your business, ensure it gives you access to automation tools, such as automated reconciliation.
tWhen it comes to managing your bookkeeping and bank files, it can be incredibly useful to employ automation tools as well. This can increase accuracy, reliability, and speed.
Human error is common, but an integrated payment platform bypasses that risk by using automation instead. It ensures accurate and fast results every time.
Enhanced Security Features
If there’s one thing that is crucial for government organizations, it’s security. Instead of worrying about security breaches and data theft, you can trust an established service provider with integrated billing solutions.
In your accounting practices (bookkeeping, reconciliation, data management, reporting, etc.), the critical nature of security cannot be overstated.
PCI compliance is vital for government departments and agencies and can’t be taken lightly. That’s where top-level security features are useful and necessary. To avoid compliance issues, use integrated solutions.
Find Your Perfect Fit for Integrated Billing Solutions with CORE
Investing in a professional, and reliable payment platform that integrates with all of your softwares is essential.
Finding the right payment solution to integrate with your accounting software should be a priority for government organizations. You want a trustworthy, secure, fast, and accurate platform that enhances the overall experience for your team and constituents.
CORE can help you find that. We specialize in providing top-of-the-line payment processing solutions and educating our users on secure billing platforms.
