Merger and payments processing automation


merger Mergers and acquisitions is a term that describes consolidation of companies. During a merger two companies form one entity, while during acquisition one company purchases another. Merger represents a way for corporations to grow, innovate and increase market share.

Success of a merger is based on many factors including merging companies’ culture, timing, mission and business goals. It is important to analyze business processes and have commonalities in a way that organizations run business. Management teams must be involved in creation of a new company culture that can move the business forward. Many egos and power struggles can be in the way and it is important to set priorities.

On the operations side there are many challenges. Two companies most likely run on different platforms, using different ERP and accounting systems, different approach to inventory controls and supply management. During merger there is a business goal to lower cost, increase efficiency and make new business more profitable and sustainable. However, it comes with resistance and other integration challenges.

Printech Global Secure Payment Solutions is a company that offers secure payment software CheckPlusCFO that allows organizations to process payments secure via check and ACH / EFT transactions. There was a recent need from the companies going through a merger to assist with payment automation in the newly formed entity. The challenge that merger provides includes different technologies utilized for ongoing business operations. Often two companies would integrate payment system using one ERP and accounting system. Alternatively, they may run operations as they did in the past and combine financial results. In both scenarios CheckPlusCFO can be used to ease the pain of merging and making payment processing secure and efficient.

There are different levels of integration in which companies choose to manage ongoing operations and payment processing.

Merger and paymentsMerger Printech

1. Two companies go through merger to form a new entity and manage operation through one ERP system. This integration takes time but eventually creates a seamless flow of information. CheckPlusCFO manages payments through single export of data.

2.  Two companies go through merger to form a new entity and manage operations through multiple ERP systems. CheckPlusCFO manages payments by taking separate exports from multiple sources and combines them for processing in CheckPlus system. This allows centralization of payments from multiple ERPs, branches, even countries with various currencies.

3. Partial integration of ERP / accounting systems. CheckPlusCFO is a flexible solutions and can ingest files in various formats including text, excel, PDF and XML format. Information can also be pulled automatically from the table or using web services. The system is fully customizable to each client’s needs.

The payment processing software from Printech can centralize payments from customers with established ERPs or homegrown systems. There were recent mergers of national and international insurance groups and Printech assisted them with streamlining of the payment system.

Many financial institutions went through a merger in past few years. Printech served an important role in bringing payment operations on the same level and will continue bringing benefits of payment automation to national and international enterprises.