The good news is that, if you incorporate integrated payments into your solution, you have a proven, sensible path to accomplish both of these.
Attract More Customers
The most direct path to increasing your revenue is increasing your sales. In this regard, integrated payments add a powerful tool to your software offering. Every business customer in every industry relies on payment technology. Integrated payments build an option into your software package that allows your customers to connect through their accounting applications and operate more efficiently and effectively. Whatever your niche, your customers need it. With all the software options available, this can help you stand out in ways that grow your sales beyond what you currently reach.
Keep Customers Longer
Software options emerge every day. Not only does technology grow quickly, but software engineers find new ways to apply what already exists. If you rely on licensing software for your customers, this means you need to either stay ahead of the technology growth curve or find ways to make your software stick longer with your clients. Excellent customer service helps, but just as important is finding ways for your offering to matter to a client for longer. Integrated payments provide a tool within your product that improves client capabilities far beyond the basic functioning of your software. You can stick with customers for much longer, generating licensing fees for much longer with each customer you have.
Build Processing Revenue Stream
More customers and longer-lasting customers give you a tremendous revenue boost. Integrated payments provide a separate revenue stream by letting you collect fees on a per-transaction basis. For every end-customer paying through your software, and every payment from each customer, you collect a portion of the fee your client charges. Each one of these may be small, but it generates steady revenue for you that grows with your clients. The greater their success while using your software, the more this extra revenue stream will generate for you.
Partner for Most Efficient Growth
The key roadblock to your incorporating integrated payments into your software is knowledge. The payment processing industry is highly regulated and specialized, so keeping up creates full-time work all by itself. Partnering with an experienced payment processing organization gives you the best of both worlds: The knowledge and experience to offer this revenue supercharger and the ability to focus on your core offering. A payment partner lifts your ISV or SaaS company without you needing to become an expert in a new field.
Integrated payments provide a path to explosive revenue growth. When your ISV or SaaS company builds it into your product, you become more marketable and more profitable. It's an opportunity you cannot ignore for your organization.