Payment processing refers to the collection of data from a company’s daily transactions to create an accurate picture of current liabilities and earnings for smarter enterprise management.
An efficiently executed payment processing operation is a valuable tool for any enterprise. It propels smarter decision-making while enabling top management, including CEOs and CFOs, to implement improved management strategies for cost reduction and improved cash flow management.
In today’s data-driven world, access to timely and accurately processed payment or transaction data plays a crucial role in determining an organization’s competitive agility by empowering it with superior financial management that builds in flexibility and resilience.
Discover ARDEM’s Payment Processing Solutions
What is Payment Processing?
At ARDEM, we believe in serving our clients to the best of our abilities and are extremely proud of delivering successful outsourcing solutions year after year.
When we talk of transaction or payment processing at the most basic level; a transaction refers to an exchange between two parties, whether it be between a company and its vendors or its customers. Irrespective of its nature, every transaction must be duly recorded to ensure proper diligence and timely processing, including dispatching customer orders and making timely payments to current vendors.
As we dive deep into the world of payment processing and explore how ARDEM’s teams build and implement successful solutions for our clients, let us take a look at the most common issues that hinder efficient transaction processing:
- Continued dependence on manual processing that is subject to delays, errors, and careless mistakes.
- Outdated and unorganized processing, lack of proper coordination or alignment between different systems and departments.
- Lack of clear and accurate reporting on current and periodic transactions which results in a lack of visibility and hinders critical decision-making.
- A decentralized operating model which creates dissonances between different processes, resulting in redundancies, loss, and delays.
- Absence of standard regulatory protocols that lower efficiency.
- Lack of access to real-time data analytics and periodic performance charts that reveal the true state of the finance and operations systems.
What Sets Us Apart
As discussed above, a breakdown of proper communication channels, failure to update internal operating systems, and lack of access to transaction data can seriously inhibit a company’s management from gaining a clear picture of the current situation and taking corrective measures accordingly.
As a result, ARDEM’s transaction processing services are specially designed to accelerate data processing while improving accuracy to provide timely analytics and faster reporting for smarter enterprise management.
We further recognize that as your business grows there is a greater need for efficient transaction processing services to provide quick and exceptional customer service.
Many of these tasks are tedious and time-consuming, but without great attention to detail, errors in processing can cause larger problems downstream. ARDEM accurately captures and processes data from varied enterprise transactions to ensure that each is fulfilled to further increase efficiency and manage your cash flow.
Unleash the Power of Data with the ARDEM Collaboration Platform
Using our proprietary cloud-based virtual workspace, the ARDEM Collaboration Platform, we streamline your workflow with a cost-effective solution that helps to free up your internal resources and refocus them on core business processes.
We also train remote teams using our customized virtual training processes that ensure the best outcomes for your transaction processing requirements.
Our live dashboard further comes with customizable features that allow you to view the status of each transaction in real-time and plan your future steps accordingly.
Discover the ARDEM Advantage in Payment Processing
Accelerating Sales Order Processing
Our order processing solutions are designed to help you build a strong market reputation for excellence with efficient sales order processing.
With the aid of our intelligent processing services, you can ensure systematic order processing that starts with accurate data capture and entry. We further automate your order processing steps for backend efficiency and faster order fulfillment.
Our high-performance remote teams work in round-the-clock shifts to ensure real-time order processing within 24 hours while improving efficiency and implementing quality assurance. Faster processing at our end empowers timely order fulfillment at your end and this, in turn, yields high customer satisfaction.
Streamlining Claims Processing
We also offer precision processing and verification for different types of claims to ensure higher approval rates and timely dispensation of compensation.
Our claims processing workstream eliminates errors and streamlines application processing while ensuring faster turnaround with our state-of-the-art processes executed by proprietary software bots.
We further incorporate effort-based processing to handle specialized data requirements wherein double-key data entry is combined with in-house processing to deliver 99.97% accuracy.
Our team of qualified analysts with industry experience amplifies the benefits of automated efficiency to accelerate and improve your internal operations.
Accelerating Financial Transaction Processing
ARDEM’s finance transaction processing solutions provide fully managed finance and accounting services to provide efficient back-office support for a smoother finance function.
Our services seek to streamline tedious yet essential tasks such as invoice management, accounts payable, accounts receivable alongside bookkeeping, QuickBooks accounting, bank reconciliation, and more.
With nearly two decades of experience in the finance and accounting outsourcing sector, we have established protocols in place to reduce your processing costs, shorten your processing cycles and improve accuracy.
Our payment processing services further offer to manage bottlenecks such as exceptions, duplicate bills, incomplete or missing information and even interact directly with your bank and vendors to provide a truly comprehensive and effective solution for your internal finance function.
This way, we further provide greater transparency and visibility into your financial operations enabling you to make smarter decisions for business growth and success.
Implementing Efficiency in Manufacturing Processing
One of the greatest challenges in manufacturing is maintaining an efficient process to provide quality work within a strict deadline. ARDEM offers you the advantage of 16 years’ worth of experience in improving backend efficiency for the manufacturing industry.
From entering orders and processing invoices to calculating conversion costs and carrying out document management. We help reduce your workload allowing your internal team to focus on improving customer service.
Our manufacturing processing services further offer you high precision for smarter bottom-line management and success.
Enhancing Logistics Payment Processing
As a leading transaction processing company, ARDEM provides fully integrated logistics outsourcing services that cover a range of functions including issuing load statements, freight billing and auditing, bill of lading (BOL) processing, optimizing load confirmation statements, etc.
Our aim is to increase your agility, improve accuracy, and boost client satisfaction.
Simplifying Insurance Processing
Most insurance firms receive a large volume of insurance commission statements, forms, and claim applications daily.
All this data needs to be organized as soon as possible with the greatest possible accuracy and speed. Taking day-to-day repetitive tasks like data entry off your plate, ARDEM offers smart insurance outsourcing services to help clear away your backlog by implementing OCR technology, intelligent automation, and responsive solutions for faster processing.
We even process hand-filled forms and can decipher and extract handwritten data for faster data delivery and accelerated application processing.
Our primary goal is to ensure your path to success with advanced enterprise data management.
The ARDEM Promise
Improving Accuracy and Reducing Costs
As your business expands, so do your transaction processing needs. This means hiring and training more resources to manage the increasing volumes of data while still facing the issues caused by lack of standard operating procedures and visibility.
The cost of upgrading can cost you a pretty penny while failing to deliver the expected results. This is precisely what makes outsourcing transaction processing a smart decision for your business.
You can upgrade and update your internal processes immediately within the span of a few weeks while gaining access to global, high-performance remote teams. These teams are specially trained to carry out your updated processes and deliver high-quality data within faster processing cycles while assuring immediate cost-saving of 30-40%.
Implementing Flexibility and Scalability
At ARDEM, we ensure flexibility and scalability across all our operations, forecasting fluctuations in volumes and scaling your teams accordingly to ensure uninterrupted operations.
We do everything we can to exceed our customer’s expectations. We believe that we have an amazing ability to solve complex problems and that with hard work and persistence we can succeed.
Ensuring Data Security and Confidentiality
Security and confidentiality are at the forefront of every contact and as an ISO27001-certified data entry and outsourcing company, we are experts at keeping your data secure.
Our stringent security measures ensure that access to your data is kept strictly confidential and that your datasets cannot be accessed edited by unauthorized team members.
All data is further processed in compliance with GDPR, PCI, PHI, PII, and HIPAA regulations.
Interested in learning more about our data security measures? Sign an NDA and ask for more information to be disclosed during initial discovery.
If you would like to learn more about how ARDEM’s teams can streamline and improve payment processing for greater visibility and growth, you can schedule a free, 15-min consultation with our seasoned experts today.