Customer resource management platforms are mission-critical software tools that include a wide variety of sales, productivity, and reporting features. And while CRMs are all about cross-organization integration and centralized control of your company’s tasks, one thing they traditionally aren’t good at is talking to each other. That’s a problem for ISOs that need to move data from one CRM within the organization to another, or to the CRM of an external partner organization. Luckily, that problem is now a thing of the past thanks to IRIS CRM’s new merchant data sharing function – a feature designed to facilitate secure and frictionless sharing of merchant data between multiple IRIS CRM installations.
Why Merchant Data Sharing Capabilities are So Important
There are a number of reasons why ISOs might need to transfer certain specific merchant data from one CRM client to another. The primary reason is that many ISOs specialize in specific merchant niches in order to offer the most targeted service possible. Those ISOs might run multiple divisions or subsidiaries, each running on their own CRM accounts to keep their merchant databases separate and uncluttered. Some specialist ISOs also partner with external companies to hand off merchants outside of their specialization. That enables ISOs to profit off of leads regardless of whether or not a merchant falls within their niche – a great way to diversify and grow residuals.
Unfortunately, the process of moving a lead or a specific merchant’s data from one CRM to another has traditionally been extremely convoluted, requiring significant time and IT resources to facilitate the transfer. At IRIS CRM, we know this is a pain point for many of our clients, and that’s why we’ve introduced frictionless merchant data sharing as a new feature.
With merchant data sharing, IRIS CRM ISOs can now freely transfer merchant data completely securely, ensuring that every lead can be turned into a revenue generator, even if that means handing a merchant off to an external partner.
How IRIS CRM’s New Merchant Data Sharing Feature Enables Frictionless Data Transfer
IRIS CRM clients can now set up simple data sharing connections between multiple IRIS CRM sites based on easy-to-configure transfer rules. Setting up a connection is extremely straightforward and can be handled quickly regardless of whether the two IRIS CRM sites exist within the same parent organization or are owned by two separate companies.
First, the receiving ISO sets up a receiver connection – a six-step process that can be done in a matter of minutes by anyone on-staff familiar with the CRM. Once the receiver connection has been established, the system will automatically generate a portfolio key, which is provided to the sending ISO and acts as a type of password to enable the transfer.
The sending ISO can then establish a sender connection through the same Merchant Data Sharing panel in their own CRM. Once the sending connection has been established and the portfolio key has been entered, the data connection will open, and the receiving ISO’s CRM will begin importing data.
IRIS CRM’s new merchant data sharing functionality is a game-changer for large ISOs running multiple IRIS CRM sites, and for niche ISOs looking to farm out merchants to partners with revenue sharing agreements. If you’re already an IRIS CRM user, you can begin data sharing right away by following the simple steps available in our Merchant Data Sharing User Guide.
If you’re not yet an IRIS CRM user, and you’re looking for a new customer resource management platform, a member of the IRIS CRM team would love to talk to you about the benefits of merchant data sharing, and the rest of IRIS CRM’s industry-leading features. Visit IRISCRM.com to schedule a free demonstration of the platform, or to start your free trial today.