In B2B transactions, accepting in-person payments is often far more complex than it seems. For accountants and business owners, the challenges extend beyond the transaction itself.
Traditional POS systems, primarily designed for retail, often fall short when it comes to the specific needs of B2B transactions, especially when payments occur in various locations—whether in the showroom, office, or upon product delivery. The result? A lot of manual work, errors in payment allocation, and wasted time that could be better spent on growing the business.
If this scenario feels all too familiar, you're not alone. Now, there’s a solution that could simplify this process, integrate seamlessly with your existing ERP system, and save you time and headaches no matter where the payment occurs.
The Challenges of Using Traditional POS Systems for B2B Payments
Whether a customer wants to pay in your showroom, at your office, or even at the point of product delivery, traditional POS systems struggle to keep up. This lack of flexibility can lead to missed opportunities, delayed payments, and a disjointed customer experience. Here are other common issues in using the usual POS systems for B2B payments.
1. Manual work and human error
Traditional POS systems often require manual data entry, especially when it comes to linking in-person payments to the correct sales orders and invoices. This manual process not only consumes valuable time but also introduces the risk of human error. In B2B transactions, where accuracy is crucial, these errors can lead to discrepancies in your financial records and issues with cash flow.
2. Complex payment allocations
B2B payments frequently need to be allocated across multiple invoices or sales orders, adding layers of complexity. Traditional POS systems typically aren’t equipped to handle these nuances, forcing you to manually allocate payments or use cumbersome workarounds that are prone to mistakes.
3. Lack of Integration with ERP Systems
One of the biggest frustrations with traditional POS systems is their lack of integration with your ERP. Without seamless integration, you’re left to manually enter payment data into your ERP system after the fact, creating more work and increasing the risk of errors that can disrupt your financial reporting.
4. Time-consuming reconciliation
At the end of the day, reconciling payments made through traditional POS systems with your accounting records can be a long and tedious process. Without automated payment allocation and real-time updates to your ERP, you might find yourself spending hours trying to match payments to the correct invoices, which delays your financial close and affects your cash flow management.
How EzyTerminal Solves These Challenges
ezyCollect Terminal (ezyTerminal) is specifically designed to address the pain points of accepting in-person payments in B2B. It’s not just another POS system—it’s a complete solution that integrates seamlessly with your ERP, automates payment allocation, and provides the flexibility to accept payments wherever your business takes you.
1. Simplified Payment Process
With ezyTerminal, taking payments is a breeze. You can search for sales orders*, accept full or partial credit card payments, and even handle cash transactions—all from one easy-to-use touchscreen. You can also find customers and pay an invoice using the terminal. Once the payment goes through, ezyTerminal automatically records it as a deposit or links it to the right invoice, saving you time and effort. Together with ezyCollect Payments online portal, you’re able to provide customers with a complete payment solution - whether online or in-person.
2. Automated payment allocation**
ezyTerminal takes the complexity out of payment allocations. Unlike traditional POS systems, ezyTerminal is built to work hand-in-hand with your ERP. When a payment is processed, it’s automatically allocated to the correct invoice or sales order, ensuring that your accounts are accurate and reducing the time you spend on reconciliation.
3. Flexibility across multiple locations
Whether your customers prefer to pay in your showroom, office, warehouse, or at the time of delivery, ezyTerminal has you covered. Its flexibility ensures that you never miss an opportunity to collect payment, no matter where the transaction occurs. This capability is crucial in providing a smooth and convenient payment experience for your clients, which can lead to faster payments and improved customer satisfaction.
4. Supports both credit card and cash payments
ezyTerminal isn’t just limited to credit card transactions; it also supports cash payments, providing versatility for both you and your customers.
5. Real-time receipts and confirmation
After processing a payment, ezyTerminal can instantly send a receipt via email, giving your customers immediate confirmation of their transaction. This feature not only enhances customer satisfaction but also helps you maintain clear, organised records without the hassle of paper receipts.
*Sales Orders are only available for JCurve/NetSuite AUS users.
** Automate payment allocation is available for Xero, MYOB ARLive, EXO, Accumatica (Advanced) and NetSuite
Simplify Your B2B Payment Process With EzyTerminal
Managing in-person payments doesn’t have to be a headache. With ezyCollect Terminal, you can eliminate the inefficiencies and errors that come with traditional POS systems. By integrating seamlessly with your ERP, offering flexibility to accept payments in multiple locations, and automating key processes such as payment allocation, ezyTerminal ensures that your payments are accurate, efficient, and easy to manage.
Ready to Simplify Your Payment Processes and Focus More on What Matters?
Discover how ezyCollect Payments can transform the way you handle in-person and digital transactions, making your business run smoother than ever.
KC Estoesta
As our Product Marketing Manager, KC bridges product insights with market needs, helping the team bring the right solutions to the right audience. Outside of work, she enjoys photography and other creative pursuits — a balance of analytical thinking and artistic curiosity that shows up in everything she does.
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