We’re excited to announce a new feature for your favorite Merchant Services CRM! Merchant data imported via Residual Import will now be incorporated into IRIS CRM’s advanced reporting suite, even if the merchant is using a processor that is not integrated into IRIS CRM.
Every ISO owner needs to be able to quickly and accurately see how their business is performing. IRIS CRM understands how important it is to have access to these key analytics, and IRIS has an advanced reporting suite to provide key merchant volume and transaction data for all clients.
With merchant volume and transaction data at your fingertips, you can ensure that your ISO is healthy, your residual portfolio is growing, and you are developing strong long-term relationships with merchants.
IRIS CRM is integrated with the major payment processors for merchant portfolio reporting, including First Data, Paysafe, TSYS Wholesale, TSYS Retail, Nuvei, Priority, Vantiv, TriSource, and Elavon. ISOs can view daily deposit information for merchants working with those processors right on the merchant page:
Merchant transaction and volume data has only been available for merchants with integrated processors. Unfortunately, this can exclude the smaller processors that certain merchants use to process their payments. There are always going to be new players to the game or smaller payment processors that don’t have an API to integrate with just yet.
Now, ISOs have a centralized reporting center that includes key merchant transaction and volume data for merchants using integrated or non-integrated processors!
How It Works
Step 1: Import Residuals for Non-Integrated Processor
Incorporating merchant data for non-integrated processors into IRIS CRM merchant reporting requires no effort to set up. ISOs with merchants on processors that are not integrated with IRIS CRM will start to see the benefits right away.
The process starts at Residual Import. Residual Import is where ISOs can upload residual data into IRIS CRM. The data is then transferred into IRIS CRM’s advanced merchant portfolio reporting tools.
Learn how to import your residuals into IRIS CRM via the IRIS CRM Knowledge Base article, Importing Residuals.
Step 2: Update Processor Setting
In this step, you will tell IRIS CRM to use the residuals volume total from merchants using the non-integrated processor, and how you would like IRIS CRM to display the data.
Start by clicking Manage > Administration, then Processors > Processor Settings. Select the non-integrated processor, and click the Edit Processor button.
In the Edit Processor popup, you’ll see a variety of options. The one we are concerned with is Deposits Month. Click the dropdown to see several options, including:
- Do Not Apply
- Same Month as Residuals Report
- Month Prior to Residuals Report
- Two Months Prior to Residuals Report
ISOs typically receive their residuals report for a given month from the processor roughly 2-3 weeks into the following month. For example, on January 20th you may receive December residuals. In order to ensure that the data is properly imported into IRIS CRM’s advanced reporting, make sure to select the correct monthly setting based on the month of the residuals report data.
In this example, you would select Same Month as Residuals Report, because the report is for December. The vast majority of use cases fall under Same Month as Residuals Report, while the proper setting for integrated processors is Do Not Apply.
Month Prior to Residuals Report and Two Months Prior to Residuals Report cover specific use cases that are generally not applicable to most clients. For some processors, the residuals data
Viewing Merchant Data for Non-Integrated Processors
Now that the residuals data from the non-integrated processor has been properly imported into IRIS CRM, you can start to take advantage of the data.
In the Deposits tab for a specific merchant, you will now see monthly transactions and volume data pulled directly from the residuals data that was imported. The data source is included at the bottom-right of the report, so you know exactly where the data came from.
Navigate to the Financials tab to gain a view of how merchants using non-integrated processors are performing over time. In the Financials tab, you can view monthly volume and transaction data in neatly organized columns, as well as in the graph.
In the past, these tabs would have provided little to no value for non-integrated partners because the data simply wasn’t available. We developed this new feature to ensure that ISOs can gain a view of merchant performance over time whether they are using integrated or non-integrated processors.
For integrated processors, the deposits tab contains daily volume and transaction data. For non-integrated partners, the data in the Deposits tab is organized by the month. The Deposits tab will now include total monthly volume and transactions for any given month – so long as the data has been imported through Residuals Import, and the processor setting has been updated correctly (step 2).
For more information, check out the IRIS CRM Knowledge Base. We hope you enjoy using the new feature and stay tuned for more updates coming soon!