TurboApp Merchant Boarding – How IRIS CRM’s Revolutionary Boarding Tool Can Benefit Your ISO

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

Merchant onboarding is one of the key functions your ISO’s team handles. Once an agent has recruited a new merchant and closed the deal with a signed MPA, it’s the boarding process that facilitates getting that merchant to a point where they’re actually processing transactions and, most importantly, earning your ISO residuals! That means handling the boarding process as carefully and effectively as possible is a must to ensure success. Unfortunately, the process itself is often slow and convoluted, leading to a host of problems, not the least of which is wasted time and a multitude of errors. 

IRIS CRM, the payments industry’s leading customer resource management platform, has developed a proprietary solution specifically designed to deal with the pain points associated with boarding – TurboApp. TurboApp is a revolutionary tool that boosts your ISO’s boarding capacity by slashing the amount of time it takes to board a new merchant, and ensures more merchants are approved as quickly as possible by making the process more accurate, more manageable, and far easier.  

 

TurboApp Brings Multi-Processor Boarding Into a Single Point of Control

Working with multiple payment processors is key to getting your merchants the right services and maximizing your residuals portfolio. Unfortunately, it also means working with multiple processors’ individual boarding portals. And because each processor’s system is incompatible with the others, your boarding department or operations staff will have to learn to navigate them all separately.

TurboApp eliminates the needless complexity and nuisance of having to deal with multiple boarding portals by providing a single point of control for access to the boarding portals of Fiserv Omaha, Fiserv North, PaySafe, WorldPay, TSYS Wholesale, and TSYS ELAPP. Whenever a member of your team launches a new application through TurboApp, the system will automatically configure itself to perfectly integrate with the boarding portal of the processor selected – all of whom have certified TurboApp to integrate with their systems. 

 

TurboApp Eliminates the Time Wasted by Manual Boarding

Manually boarding applicants through a processor’s native boarding portal is a slow process. Those portals are rarely designed with user-friendliness in mind and often require a redundant entry. That complexity and inefficiency mean that it can take even the most experienced users 30 minutes or more to complete the data transfer for a single merchant application. 

TurboApp eliminates the majority of that wasted time in two major ways. First, it makes the boarding process extremely easy, with a focus on an elevated user experience built right in. Second, it uses IRIS CRM’s eSignature application function to automatically pull all of the data from a merchant’s signed and submitted MPA, eliminating most of the data entry from the process altogether. 

That means your boarding team has only a small fraction of the fields and options to handle, with the vast majority of data requiring only a simple review for accuracy. The time savings they’ll enjoy as a result are shocking, and even inexperienced users can complete the full boarding process in as little as five minutes! 

 

TurboApp Eliminates the Human Error that Can Sink a Boarding Application or Your Profits

In addition to an enormous amount of wasted time, the other big problem with manual boarding is that every field handled is a new opportunity for human error to be introduced into the process. With so much data to enter manually, it’s only natural that errors will occur. But those errors can be extremely expensive – potentially resulting in lost profits or even outright application denial. 

TurboApp ensures those errors never have a chance to impact an application by taking a wide variety of steps to make the process effectively error-proof. First and foremost, by eliminating most data entry altogether, TurboApp’s automatic form population simply reduces the number of chances a user has to make a mistake at all. In areas where TurboApp does require input, like the setting of a new merchant’s pricing for various card types, TurboApp automatically populates the fields with your ISO’s default rates. You can also set certain rate fields to be read-only, so the user can’t change them, either intentionally or by accident. That ensures your ISO will never have to worry about lost profits from something as simple as an errant keystroke. 

 

TurboApp Makes the Application Process Transparent and Easily Manageable

Once an application has been submitted, there’s no guarantee it’s going to be successful on the first try. It’s extremely common for payment processors to require more information, something that, in turn, requires the ISO to go to the agent, who then must go to the merchant to get the necessary documentation. A merchant might also be declined outright, requiring their application to be shored up and resubmitted to a different processor. In each case, any breakdown in communication between the processor, the ISO, and the agent is likely to result in unnecessary delays. 

TurboApp makes tracking an application’s status extremely easy. The “Underwriting Status” area of TurboApp lays out each submitted application in an easy to read table providing the current underwriting status, as well as the date of the last update, the merchant’s legal name and DBA, the sales rep, the processor,  and more. Whenever an update to an application’s status happens, TurboApp sends out a notification to both the ISO and the agent, ensuring everyone is always in the loop. 

That means two things for your ISO: first, you won’t have agents constantly asking for updates about their merchants, and second, whenever an application comes back to your ISO requiring more information, the agent responsible can get to work on the new documentation right away, without you needing to notify them. 

 

TurboApp Lifts the Burden of Maintenance Off of Your ISO’s Shoulders

Whether it’s new information requirements, new equipment they’re supporting, or any number of other reasons, payment processors regularly alter their boarding systems to reflect a multitude of changes. To the processors, those changes are no big deal, but if your ISO is using your own in-house tools to connect to their boarding portals, those changes mean maintenance work for your IT team. That means new coding, new testing, and significant time and effort spent just keeping things up to date. 

TurboApp takes that work off your team’s plate altogether, by handling any updates in the processors’ boarding systems for you. Because TurboApp has to be fully certified by the processors it integrates with, the IRIS CRM team vigilantly stays on top of any new changes and ensures they’re done quickly and signed off on by the processors. The result is that your boarding team can rest assured that every time they open TurboApp, the fields displayed to them will be completely up to date and perfectly synced with the payment provider in question. 

 

These benefits represent only a fraction of the problems TurboApp can solve for your ISO. To find out more about how IRIS CRM and TurboApp can help your team board merchants faster and more accurately, and ensure the smoothest possible process from initial application to acceptance, contact us today