Simplify Your Online Business Operations with Vtiger Instamojo CRM Payment Integration
Posted: Wed Dec 18, 2024 9:31 am
The small business selling handicrafts only accepted bank transfers or cash on delivery and did not offer any digital payments at first. Because of this approach, they faced many problems, such as:
Low customer base: Potential customers were frustrated by the lack of a variety of payment options. Some customers preferred to use cards or digital wallets for online transactions, which special database they did not offer. BlueSnap Research shows that 48% of businesses have lost up to 10% of their international revenue because their payment processing providers did not offer suitable payment options.
Delayed Payment: Due to bank transfers, there were often delays in receiving payment, which affected cash flow. This also made inventory management difficult.
Inefficient payment management: Since orders were not automatically linked to payment records, the team had to manually verify payments, which was time-consuming.
Limited data visibility: The team was unable to analyze which products were selling well and could not track customer purchasing behavior.
Security Issues: Due to lack of security, customers were hesitant to purchase products and make payments.
What do you think this business could do right to streamline its financial operations? Implementing an online payment system and integrating it with CRM software.
But if you are new to the concept of payment gateways, let's first understand this and get the basics right.
What are payment gateways
Payment gateways are digital services that enable financial transactions between businesses and customers. They securely transmit payment information from a buyer to a merchant’s bank account, acting as intermediaries, as well as verifying funds and authenticating transactions.
It also supports various payment methods such as Unified Payment Interface (UPI), credit cards, debit cards, and digital wallets. They encrypt sensitive payment data and ensure its secure transmission between the two parties.
Online payment gateways are an integral part of organizations as they can
Improve customer service by offering customers a variety of payment options, making transactions fast and convenient.
Improve security by implementing advanced security measures, such as encryption, to protect sensitive data. This reduces the risk of fraud and other malicious activity, building trust and reputation.
Settle faster: This helps speed up transactions and settlement times, ensuring businesses receive funds quickly.
However, one of the challenges businesses face when relying solely on digital payment services is the lack of integration with CRM software, which is often used to manage day-to-day operations. Learn more about why CRM payment integration can be a game-changer for your business.
Top Reasons to Consider CRM Payment Gateways
It is no surprise that the numerous integrations provided by the CRM application simplify business processes and make sales much easier. Among the countless third-party integrations supported by CRM systems are email marketing, social media, and telephony, and payment gateways are also included.
Here are some reasons why payment gateway and CRM integration is the perfect choice for your business:
A single hub for financial transactions
With this integration, you can manage your entire sales process, from lead generation to payment collection, on a single platform. This can simplify your financial operations, making them more transparent and less prone to errors. Plus, you can make or receive payments directly from your CRM without having to open multiple tabs.
Match your payments to customer records in real time
By setting up Workflows , you can automatically match payments to customer profiles, providing a holistic view of customer interactions and transactions. This can save you a significant amount of time and effort, allowing you to focus on other complex tasks.
Better financial management
When all your information is stored in one place, you can easily track and manage your finances. This can make it easier to create reliable reports and forecast your income, helping you make smart decisions.
Highly scalable
CRM payment gateways can effectively manage the growing volume of transactions. It can also use new currencies, allowing your business to reach global markets.
Are you thinking about implementing a CRM with high-tech digital payment capabilities? Then we have you covered.
Vtiger CRM supports various payment gateway integrations such as PayPal , Stripe , Razorpay , and Authorize.Net . But one integration that we are going to focus on in this blog is the Instamojo integration, which is specifically designed for Indian businesses.
Integration of Vtiger CRM and Instamojo
Instamojo is a popular online payment and e-commerce platform based in India. It provides businesses and individuals with an easy and secure way to collect payments and sell products digitally.
In Vtiger CRM, you can leverage your digital payments solution using the Vtiger Instamojo Integration . By setting up Instamojo with Vtiger, you can:
1) Create payment records from various Vtiger modules such as Payment Module, Invoices and Quick Create. This way, you can easily create important records from any module you are currently using, making the process more streamlined and convenient.
2) Create payment links directly from your CRM and share them via various channels such as email, social media or other messaging apps. You can also make payments from contact information using the PAY NOW option.
Low customer base: Potential customers were frustrated by the lack of a variety of payment options. Some customers preferred to use cards or digital wallets for online transactions, which special database they did not offer. BlueSnap Research shows that 48% of businesses have lost up to 10% of their international revenue because their payment processing providers did not offer suitable payment options.
Delayed Payment: Due to bank transfers, there were often delays in receiving payment, which affected cash flow. This also made inventory management difficult.
Inefficient payment management: Since orders were not automatically linked to payment records, the team had to manually verify payments, which was time-consuming.
Limited data visibility: The team was unable to analyze which products were selling well and could not track customer purchasing behavior.
Security Issues: Due to lack of security, customers were hesitant to purchase products and make payments.
What do you think this business could do right to streamline its financial operations? Implementing an online payment system and integrating it with CRM software.
But if you are new to the concept of payment gateways, let's first understand this and get the basics right.
What are payment gateways
Payment gateways are digital services that enable financial transactions between businesses and customers. They securely transmit payment information from a buyer to a merchant’s bank account, acting as intermediaries, as well as verifying funds and authenticating transactions.
It also supports various payment methods such as Unified Payment Interface (UPI), credit cards, debit cards, and digital wallets. They encrypt sensitive payment data and ensure its secure transmission between the two parties.
Online payment gateways are an integral part of organizations as they can
Improve customer service by offering customers a variety of payment options, making transactions fast and convenient.
Improve security by implementing advanced security measures, such as encryption, to protect sensitive data. This reduces the risk of fraud and other malicious activity, building trust and reputation.
Settle faster: This helps speed up transactions and settlement times, ensuring businesses receive funds quickly.
However, one of the challenges businesses face when relying solely on digital payment services is the lack of integration with CRM software, which is often used to manage day-to-day operations. Learn more about why CRM payment integration can be a game-changer for your business.
Top Reasons to Consider CRM Payment Gateways
It is no surprise that the numerous integrations provided by the CRM application simplify business processes and make sales much easier. Among the countless third-party integrations supported by CRM systems are email marketing, social media, and telephony, and payment gateways are also included.
Here are some reasons why payment gateway and CRM integration is the perfect choice for your business:
A single hub for financial transactions
With this integration, you can manage your entire sales process, from lead generation to payment collection, on a single platform. This can simplify your financial operations, making them more transparent and less prone to errors. Plus, you can make or receive payments directly from your CRM without having to open multiple tabs.
Match your payments to customer records in real time
By setting up Workflows , you can automatically match payments to customer profiles, providing a holistic view of customer interactions and transactions. This can save you a significant amount of time and effort, allowing you to focus on other complex tasks.
Better financial management
When all your information is stored in one place, you can easily track and manage your finances. This can make it easier to create reliable reports and forecast your income, helping you make smart decisions.
Highly scalable
CRM payment gateways can effectively manage the growing volume of transactions. It can also use new currencies, allowing your business to reach global markets.
Are you thinking about implementing a CRM with high-tech digital payment capabilities? Then we have you covered.
Vtiger CRM supports various payment gateway integrations such as PayPal , Stripe , Razorpay , and Authorize.Net . But one integration that we are going to focus on in this blog is the Instamojo integration, which is specifically designed for Indian businesses.
Integration of Vtiger CRM and Instamojo
Instamojo is a popular online payment and e-commerce platform based in India. It provides businesses and individuals with an easy and secure way to collect payments and sell products digitally.
In Vtiger CRM, you can leverage your digital payments solution using the Vtiger Instamojo Integration . By setting up Instamojo with Vtiger, you can:
1) Create payment records from various Vtiger modules such as Payment Module, Invoices and Quick Create. This way, you can easily create important records from any module you are currently using, making the process more streamlined and convenient.
2) Create payment links directly from your CRM and share them via various channels such as email, social media or other messaging apps. You can also make payments from contact information using the PAY NOW option.