There are many reasons why you may want your most valuable merchant relationships to be easily identifiable within your CRM system. For your organization, your VIM’s (Very Important Merchants) may be companies with transaction volumes over $10,000 or those with volumes over $100,000. You should have complete control over the standard you choose to measure them. Thanks to our latest update, you do.
Moreover, you can now easily identify these merchants in IRIS CRM, making each member of your company privy to who they are, while enabling easy and convenient reporting on your top accounts. Here are three ways you can now quickly identify your Very Important Merchants:
- VIM Icon Toggle – Users now have the ability to toggle the Very Important Merchant (VIM) icon on and off.
Previously, the VIM icon would automatically turn on for any merchant that processed over $50,000 in transaction volume and would remain on, with no option to remove it. With this update, it will continue to automatically turn on at the $50,000 threshold, but you can now manually toggle the icon off and on as you wish. Here’s how:
- Navigate to the merchant record
- Click on their MID
- Click “Edit Merchant”
- You will see the VIM icon with a drop-down menu where you can select whether you want it to be on (Yes) or off (No) for this merchant
- VIM Reporting – We have also added the ability to report on the VIM icon.
On the Merchant Management page, you can add “VIM” as a filter and run a report to see all your merchants that are marked VIM or that do not have this designation. Here’s how:
- Select “VIM” as your filter option
- Select whether you want to see “VIM only” merchants or “not VIM” merchants
- Click the “Add” button
You can also run a report on the VIM status of your merchants on the “View All” merchants page. By adding VIM as a column to the report you will be able to see a “Yes” or “No” designation for each merchant. To add the column, click the cog icon on the right of the table and select “VIM”.
- Merchant Open/Closed Date Flexibility – The open and closed dates can be adjusted on the same “Edit Merchant” screen detailed earlier. This is particularly useful in the instance of a mass upload of merchants that may have included some date errors. Correcting them will ensure that the Merchant Management page and Portfolio Activity reports are accurate.
BONUS – While there are some processors that do not provide this data to IRIS CRM, this update makes this information available on any merchant record, regardless of the processor you work with.
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