Benefits of Payments Data
Driving Business Decisions with Payments Data
In the ever-connected business world, more companies are looking to use data to drive their business decisions. ISVs have the unique opportunity to provide their customers with this need for data. ISVs can position themselves as data experts by offering value-added services that support the goals of their users. Payments data can help drive smarter business decisions, and in turn ISVs can provide this unique information to its customers.
How Does Payments Data Provide Value?
No matter what industry you serve, payments data can be extremely valuable when it comes to decision making and future planning. Any time a consumer makes a payment through an ISV’s application, data is generated. An ISV can leverage this useful data provided by an experienced payments partner. This data can help both the ISV and its users users make intelligent decisions about their business.
Every payment transaction comes with a wealth of information that can be used to drive your approach. Examples of payments data that can be used are average ticket price, preferred payment method (credit card vs. ACH) and transaction types (auth, sale, credit, refund, etc.). ISVs can take this data to view the overall health of their customer portfolio, while businesses can use this data to drive sales and marketing strategy.
How Does Data Help?
ISVs can support their customers by providing them with accurate information on their consumers based on payments data. This information can help businesses make sound, data-driven decisions. Continually reviewing data is the best way to ensure companies make decisions based on facts and not on emotions or temporary situations.
Partner with Paragon Payment Solutions
Adding Paragon as your integrated payments solution is just the beginning to growth. From detailed reporting and analytics to a wide arrange of payment solutions and partnership programs to meet the needs of any ISV, Paragon is your forever payments partner.