Enhancing Payments Productivity: A Look into Infor CloudSuite and iCG Pay Partnership

Picture this: You've leveraged the power of Infor CloudSuite's predictive analytics to identify an emerging market trend.

You swiftly use the CPQ feature to adjust your pricing strategies and close deals. What could be the finishing touch that elevates this supply chain process? Seamless, integrated payment processing. 

The integration offers several advantages. For example, your inventory data will be updated in real-time immediately after a payment is processed, enhancing your predictive analytics' accuracy for future transactions. You're enriching your data, refining future strategies, and enhancing customer satisfaction. 

Infor CloudSuite is an enterprise software solution that provides robust capabilities in key areas such as financial management, supply chain logistics, and human resources. 

The robust capabilities of Infor CloudSuite are extended through specialized versions like Infor M3 and Infor OS, which offer even more targeted functionalities for specific industries. 

Complementing this suite of offerings is iCG Pay, formerly known as iCheckGateway.com. iCG Pay specializes in providing secure and high-performance payment experiences that can adapt to the unique needs of businesses.

The Imperative for Seamless Payment Processing in Infor CloudSuite’s Ecosystem

At its core, Infor CloudSuite is designed to manage every aspect of a business. From tracking inventory to managing human resources and beyond, it offers a full suite of tools for enterprise management. 

One of the goals of such a comprehensive system is to remove bottlenecks and inefficiencies. Payment processing should not be an exception. 

When payments are handled smoothly, all other parts of the business ecosystem—from supply chain to customer relations—benefit. 

Several issues can arise when payment processes are managed separately from the core business systems:

• Time delays in reconciling financial records - A study by PYMNTS found that AR departments dedicate 24% of their staff to supporting manual invoicing and 23% to managing payments.
• Increased risk of errors in transaction data.
• Difficulty in tracking payment histories and customer interactions.
• Manual efforts needed to integrate payment information into other business functions - Manual accounts payable processing takes 3 times longer than automated accounts payable processing, creating a greater opportunity for errors. 

Each of these complications adds layers of complexity that organizations can't afford. 

Now, imagine embedding payment capabilities within Infor CloudSuite. Doing so streamlines the entire transaction process, making it a seamless part of the overall business operation. There's no need for your AR department to devote nearly a quarter of its staff to managing payments manually. 

Here are some of the key advantages of integrating payment solutions like iCG Pay directly within Infor CloudSuite:

• Streamlined Operations: It becomes easy to manage payments, reducing the need for separate manual efforts and additional staff.
• Data Integrity: All payment records would automatically be integrated with corresponding sales orders, inventory data, or customer profiles. This means fewer errors and a more robust database for future strategic decisions.
• Real-Time Updates: An embedded payment system would mean your financial records are updated in real time. This is essential for accurate reporting and informed decision-making.
• Enhanced Security: When payment processing is integrated within Infor CloudSuite, it benefits from the platform's security measures. That adds an extra layer of protection to your financial transactions.

Unveiling iCG Pay's Premier Payment Offerings

Designed to serve a wide range of businesses, from small startups to large corporations, iCG Pay has crafted payment systems that are both advanced and user-friendly. 

iCG Pay’s standout offering is the unified, advanced, integrated payments platform. 

This feature combines Automated Clearing House (ACH), check processing, and credit card processing into one cohesive, omnichannel approach. By doing so, we offer businesses a streamlined and simplified payment processing experience. 

Here are more noteworthy features tailored to enterprises using Infor CloudSuite ERP:

• Multiple Payment Options: With iCG Pay, businesses can take advantage of ACH processing, accept credit cards for payment, and even mobile payments. This wide array of options for digital payments allows companies to effortlessly accommodate different customer and supplier preferences.
• Robust Security Measures: Safety is a top priority for us. Our advanced anti-fraud systems monitor every transaction, ensuring that companies and customers engage in secure exchanges.
• Customized User Portals: We don't believe in one-size-fits-all. Our tailor-made portals can be designed to fit the unique needs of each business.
• Remote Transaction Capabilities: iCG Pay's Virtual Terminal and Email Invoicing options mean that payments can be handled in various setups, from in-person to remote operations.

The Synergy of Infor CloudSuite and iCG Pay Integration

Integrating iCG Pay into Infor CloudSuite's enterprise environment has far-reaching implications beyond simplifying the payment process. It creates a synergistic effect that benefits your financial workflows and enriches your business management strategies. 

Here are some key benefits of incorporating iCG Pay into Infor CloudSuite:

• Unified Data Management: For instance, in the manufacturing sector, ERP solutions for manufacturing like Infor CloudSuite greatly benefit from real-time payment data. With iCG Pay integrated, all payment data is stored, managed, and accessed within Infor CloudSuite's environment. This means all your business data, from supply chain statistics to financial transactions, is in one place, simplifying reporting and strategic planning.
• Reduced Manual Efforts: Integration eliminates the need for manual data entry for payments, freeing up your staff to focus on more strategic tasks and reducing the risk of human error.
• Enhanced Security: iCG Pay's robust security measures would extend to the entire Infor CloudSuite platform, offering your business an added layer of financial security.
• Efficient Cash Flow Management: A streamlined payment process speeds up the receipt of payments, improving cash flow and enabling better financial planning.
• Automated Reconciliation: Integrating iCG Pay allows for automatically matching payment receipts with invoices, saving time and effort reconciling accounts. According to the State of Accounts Payable Today report, invoice automation is estimated to save businesses $35,000 per year. 

But the advantages aren't just confined to payments. The integration also aids in achieving a more optimized enterprise resource planning and management. 

For instance, real-time payment data can feed into supply chain analytics, aiding in more accurate forecasting. Likewise, it can provide actionable insights into customer behavior, allowing you to tailor your marketing and sales strategies. 

When it comes to customer satisfaction, the convenience of the payment process is often a deciding factor. According to a report by PwC, 43% of consumers would pay more for greater convenience. 

An integrated solution offers a smoother, quicker, and more reliable payment experience—for example, reduced ACH processing time. That elevates the customer's perception of your brand and encourages repeat business.

Unexpected Benefits

• Scalability: As your business grows, so will your payment processing needs. The flexibility of an integrated iCG Pay and Infor CloudSuite system allows you to easily scale your payment solutions without overhauling your existing ERP setup.
• Regulatory Compliance: Both platforms stay updated with the latest financial regulations. Your payment processes are always compliant, reducing the risk of legal complications. 

From backend management to customer interactions, the benefits are holistic and substantial.

Elevating Operational Efficiencies with Integrated Payments

Integrating iCG Pay into Infor CloudSuite represents a major leap forward in operational efficiency. 

But what does this mean in practical terms for Infor CloudSuite users? 

The implications are wide-ranging, offering significant advantages that extend across various departments and stages of the business cycle. 

One of the most immediate benefits is accessing consolidated data within Infor CloudSuite.

Here's how this consolidated data can make a difference:

• Informed Decision-Making: A restaurant chain uses integrated payment systems to analyze which menu items generate the most revenue. This data, accessible in real-time within Infor CloudSuite, informs the chain's decisions on which ingredients to stock up on, potentially reducing wastage and optimizing costs.
• Strategic Forecasting: An e-commerce business observes purchasing patterns over multiple years. It uses this consolidated data to forecast sales for the upcoming holiday season, adjusting inventory and marketing strategies accordingly.
• Quick Response: A retail outlet notices a sudden drop in sales through its real-time analytics dashboard. It quickly identifies and resolves an issue with its payment gateway, minimizing potential revenue loss. 

The integrated payment system offers unique insights into procurement, inventory management, and financial planning. For example:

• Managing Consumer Demand and Experience: A popular fashion retailer with a global presence utilizes Infor CloudSuite's ERP system to track metrics like material quality, manufacturing processes, and product lifecycles. When it comes to payment, the integration with iCG Pay offers a secure, quick, and easy checkout process. Customers have multiple payment options, and transactions are seamless, thanks to anti-fraud systems and fast processing times.
• Procurement Decisions: A manufacturing firm recognizes a spike in demand for a specific product component. By integrating payment data, the procurement team is alerted in real-time, allowing them to adjust orders with suppliers promptly.
• Financial Planning: A non-profit organization uses integrated payment data to track donation inflows better. This real-time data enables more accurate financial planning and resource allocation. 

By tapping into this powerful synergy, Infor CloudSuite users can redefine what operational efficiency means for them, setting new standards for performance, agility, and growth.

Unwavering Commitment to Security and Regulatory Standards

Data breaches are, unfortunately, becoming all too common. CyberTalk.org says that one in 99 emails is a phishing attack.

 Businesses need to take stringent measures to protect their financial transactions. 

iCG Pay is a Level 1 PCI-DSS certified service provider, the highest level of certification available for payment processors. It indicates a rigorous audit process and shows that the highest security standards are maintained. 

iCG Pay employs a multi-faceted security approach that includes:

• Tokenization: This replaces sensitive information like credit card numbers with unique characters, making the data useless to hackers.
• End-to-End Encryption: All data is encrypted from the moment it leaves the user's system until it arrives at its destination, ensuring no unauthorized interception.
• Velocity Filters and Anti-Bot Measures: These control the rate of transactions and prevent automated cyberattacks, respectively. 

Also, as a Nacha Preferred Partner, iCG Pay adheres to the strict guidelines for Automated Clearing House (ACH) transactions, further establishing its reliability. 

By integrating iCG Pay’s robust payment solutions, Infor CloudSuite users and stakeholders are sure their payment data is as secure as possible. Here are some ways how:

• Seamless Alignment: The integration allows seamless data flow, reducing manual entry errors and enhancing security.
• Robust Anti-Fraud Checks: Multiple checks are in place before and after transactions are processed to identify and prevent fraudulent activities.
• Transparent Reporting: Real-time payment data analytics are available, making it easier for companies to monitor transactions and suspicious activities. 

Integrating iCG Pay's payment processing capabilities into Infor CloudSuite adds a layer of security for all users.

Partner with iCG Pay Today

Integrating Infor CloudSuite’s enterprise resource planning software and iCG Pay is a smart business move and a transformative approach to enterprise management. 

This symbiotic partnership offers unmatched benefits, ranging from real-time analytics and flexible payment solutions to the highest security and compliance standards. 

It provides a streamlined business operation that drives productivity, efficiency, and customer satisfaction. 

But don't just take our word for it. We invite you to schedule an expert consultation with us. Have a 30-minute discovery call with us and lead your enterprise into a future of efficiency, security, and growth. 

Our expert consultation will also cover the technical aspects of integration with iCG Pay.