IRIS CRM Help ISOs Improve Their Operational Efficiency

IRIS CRM Blog, ISOs, Onboarding, Residuals, Sales Efficiency
ISOs Improvement

Inefficiencies drive up costs in all industries, and the cost is the mortal enemy of profit. In the payment processing industry, eliminating inefficiencies can both reduce costs and help to maximize an ISOs residual portfolio, and IRIS CRM – the payments industry’s leading customer resource management tool – has been designed specifically to help with both. From onboarding, to lead management, to residual calculation, to administration, and beyond, IRIS CRM has the tools your ISO needs to operate both more efficiently and more effectively, minimizing headaches and maximizing profits in the process. 

 

Eliminate Wasted Time and Human Error with TurboApp

Manually boarding new merchants requires a huge amount of data transfer that not only takes a lot of time but also introduces human error to the process – an error that could potentially sink an otherwise successful application. 

IRIS CRM’s TurboApp boarding application tackles both problems by automating as much of the onboarding process as possible, handling the repetitive and tedious data entry so that your team can spend more time landing and serving new merchants and less time filling in fields. 

When a new application comes in, your staff can simply launch TurboApp and automatically pull the data from the merchant’s forms into a system designed to format it specifically for the onboarding portal of the payment processor in question. TurboApp will also validate the data fields, leaving your agents to simply upload relevant documents, check over the application for accuracy, and submit. 

 

Improve Conversions with More Efficient Lead Management

Keeping a steady stream of new merchants signing on is the key to ensuring consistent portfolio growth, and each of those new merchants starts out as a fresh lead. That makes it crucial that your ISO processes and manages leads with maximum efficiency, ensuring no hot prospect ever slips through the cracks. 

IRIS CRM’s lead management suite enables your ISO’s team to both capture leads and manages their journey to signed merchants with greater ease through automation and seamless integration with the rest of the CRM system.

With IRIS CRM, your agents can automatically capture leads through a variety of sources, including email, inbound calls, and website visits. They can also manually create new leads from anywhere in the system in a matter of minutes, or import existing lead sheets with ease. Once a lead has been entered into the system, IRIS CRM will automatically track every touch between your team and that merchant, capturing important data and enabling your team to maintain constant awareness over their status, needs, and prior interactions. 

 

Increase the Speed and Accuracy of Complex Residual Calculations and Payouts

Your monthly residuals are the driving force behind your ISO’s business, but, if you’re handling your residual calculations manually, they also represent a major headache. Pulling the numbers from different reports from multiple payment processors, applying agent splits, and figuring out the net amounts owed out is a task better handled automatically – and that’s exactly what IRIS CRM does. 

IRIS CRM automatically pulls your relevant residuals data from the various payment processors you work with and displays it all in an easy to use analytics dashboard. You can view and sort residuals and financial information on a portfolio-wide or merchant-level basis, and the system puts access to all the most important data, like sales volumes, splits, and ISO and agent net amounts just a few clicks away. 

In addition to making your life easier by automatically performing your residuals calculations for you, IRIS CRM also enables you to pay out your agents’ share right from within the CRM, through the system’s integration with the ACH network. The result is faster calculations, and shorter turnaround time to agent payout – making both you and your agents happier and more productive. 


IRIS CRM also comes with a complete suite of productivity tools covering everything from email communication, to daily calling, to outbound marketing, billing, customer support, and more. For complete information on everything, IRIS CRM can do to help your ISO run more efficiently, contact us today