Marginal gains #2: Processing payments
Adyen Partnerships Manager, Slava Balter, works closely with leading commerce platforms like Salesforce Commerce Cloud, Hybris, NetSuite, Aria, and Zuoro.
Slava has a clear understanding of the challenges facing businesses operating in the complex and often fragmented world of global commerce.
So we brought him in to share his insights and advice.
First, there’s the commerce platform (Salesforce Commerce Cloud, Hybris, etc.) powering the online storefront and shopping cart.
Second, the order management system, or ERP system (SAP, Netsuite, etc.). These manages all the accounting aspects of getting an order and shipping it out. And of course, there is the point of sale software solution (Aptos, Oracle X Store, etc.) which powers the cash register in-store.
While payments remain a crucial element, they are a very small part of the overall picture. And we understand that there is a lot for a business to consider when making a decision around any part of the value chain.
Most businesses have a carefully built ecosystem of vendors. So it is crucial to choose technology partners that slot in seamlessly, without disrupting the process or adding more work.
From a practical standpoint, it is important to have a clear understanding of the scope of the project, whether training is provided, support included, and so on.
But also important is a cultural fit, which is vital for a strong partnership, which becomes all the more critical when the vendor offers ongoing consultancy services.
Other considerations will depend on your business model. But, for example, when considering a new POS provider, retailers might want to consider functionalities like suspended basket, tax calculation, and reporting.
Also important is the appearance of the payment terminals: what color are they? Are they fixed or mobile? Are they touchscreen? Merchant-facing or customer facing?
The ultimate goal, of course, is an ecosystem of best-in-breed vendors, from payment, to order management, that works together to help you achieve your business goals.
At Adyen we have identified quality providers in every relevant category. We also built standard integrations for commerce platforms, ERP systems, and POS payments software. This makes it easy for businesses to start accepting payments with Adyen.
Standard integrations are just that, standard.
In all likelihood, this will get you about 80 to 90% of the way there, which is a lot better than starting from scratch!
But of course, the reality is that businesses will always have custom needs. So it is very likely that some changes will be necessary, just to make sure it all works perfectly.
What is important of course is that businesses aren’t alone in completing the remaining 10 or 20%.
We partner with leading systems integrators like LyonsCG, PFSweb, or Astound Commerce to get the job done.
These integrators have dedicated teams to guide businesses through the entire process.
From choosing the right technology platforms, to setting them up and integrating all the pieces of the puzzle in a way that best suits their specific business needs.
We think we have picked some of the best technology partners across the ecosystem. But of course, it will depend on your business, its size, and the level of investment you’re prepared to make.
It is a good idea to consider what other services and functionality you’ll need. As well as who can provide a single integration for everything.
For example, if you are building a subscription business your technology partners must be capable of accepting and managing subscription payments.
Additionally, as retailers move towards a true omnichannel solution, they’ll want to ensure that their POS software and ecommerce platforms are able to share payments data – which will let the retailer blur the line between online and offline channels.
We’ve actually been helping our technology partners keep a close ear to the ground in terms of new innovations in payments.
With all the cool stuff happening between mobile and POS, it’s our goal to keep our technology partners at the leading edge. And at the same time working with them to do the same on our own platform.
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