The more you know about your operations, your residuals, and your finances, the better you and your management team can steer your ISO towards future growth and profitability. Unfortunately, the payments space is complex, and the sea of data generated from your processing partners, your residuals, your agents, and your merchants can be hard to keep up with. 

Payments CRMs are designed specifically to make that sea of data more digestible and useful. Tools like IRIS CRM, with its advanced residuals reporting suite and TurboApp boarding platform, make understanding, managing, and maximizing your residuals easier than ever. The following is a quick overview of just some of the ways a residuals reporting CRM, like IRIS CRM, can help you and your team better manage your ISO and maximize growth. 


Calculate Monthly Residuals Instantly

Potentially the most powerful feature of a residuals reporting CRM like IRIS CRM is its ability to automatically combine your monthly residual reports and provide you with a cohesive, searchable, customizable summary. With each of your processing partners providing you with disparate and differently-formatted reports, synthesizing all the information each month can be a nightmare and ensures hours of your time are eaten up crunching numbers. A system like IRIS CRM takes in all your residual reports and automatically combines them, enabling you to quickly access any information you need through the reporting dashboard on a portfolio-wide, processor, or merchant level, in a matter of seconds. It’s difficult to overstate how much time and effort that can save your ISO, especially extrapolated across years or even decades of monthly residual calculations. 


Add Agent Splits at Boarding With TurboApp

Every one of your independent agents can negotiate their own splits, and with dozens of agents recruiting merchants across half-a-dozen or more processors, things can get complicated quickly. Unquestionably the best way to manage your agent splits is to connect them directly to each merchant in your CRM – a feature offered by top platforms like IRIS CRM. With IRIS CRM TurboApp, agent splits are entered at the very beginning of the process before a digital application is submitted. With complete data on splits for each agent and each merchant stored by default, the system can constantly keep track of agents and their earnings in the background, eliminating the need for you to keep track of them manually. 


Pay-Out Independent Agents Immediately

Your independent agents are the heart of your ISO, because they’re the ones that go out and find, recruit, and close your merchants. Unsurprisingly, a key to your success is being able to recruit the best agents and then keep them on your roster for as long as possible. By allowing you to program your agent splits into the system for each merchant, and then applying those splits automatically, IRIS CRM provides you with penny-accurate agent payout amounts instantaneously as soon as residuals drop each month. The built-in ACH payments tool then enables you to pay your agents as early as the very same day your reports come in. Paying your agents faster than the competition while maintaining perfect accuracy and high transparency is an ideal way to attract and keep the best talent in the space. 


Centralize Your Processes and Reporting

Another big way customer resource management systems make running an ISO easier is by centralizing your most common processes and connecting everything to an advanced reporting system. Centralization saves you and your team significant time by minimizing the number of platforms you have to manage, and with everything connected to a single reporting system, you can quickly and easily find, understand, and evaluate the performance data you need to make better managerial decisions, create better forecasts, and maximize your ISO’s growth journey. 


Know More About Your Finances

The advanced reporting suite in a system like IRIS CRM makes it fast and easy for you or other members of your management team to find the historical residuals and financial information you need, whenever you need it. Whether it’s preparing for a meeting, developing a new growth strategy, evaluating your service offerings, or assessing your independent agents, the ability to generate customized, laser-targeted reports in a matter of minutes means your ISO will always have the business intelligence you need to know your finances and your performance inside and out. 


Gain a Tighter Hold on Your Residuals with Less Effort with IRIS CRM

IRIS CRM is the payments industry’s top customer resource management platform, and it’s been designed from the ground up with the unique challenges your ISO faces in mind – including residuals. The automatic residuals calculations, automatic split applications, fast agent payouts, and in-depth reporting provide you and your team with the tools and the information you need to manage your ISO better while saving both time and money. 


To find out more about how the platform, its TurboApp boarding system, and its residuals management suite can help your ISO, schedule a guided demonstration of IRIS CRM today.