Introduction:
Cutting costs in merchant services is often viewed as a one-time activity, but at Merchant Sentry, we believe in the power of continuous monitoring for lasting savings. This blog post explains our approach to ongoing monitoring of merchant accounts and how this strategy ensures that the benefits we negotiate for our clients are sustained over time.
The Need for Ongoing Monitoring:
Merchant service agreements and fees are not static. They can fluctuate due to various factors, including changes in industry standards, transaction volumes, and even the introduction of new fees or surcharges by providers. Without regular oversight, businesses can find themselves paying more than necessary.
How Merchant Sentry Ensures Continuous Savings:
- Regular Statement Analysis: We conduct monthly reviews of your merchant statements to ensure that the fees and rates are in line with what was negotiated. This helps in catching any discrepancies early.
- Alerting to Changes: If we detect any changes in your statement that could increase costs, we promptly inform you and provide recommendations on how to address them.
- Adapting to Business Evolution: As your business grows and changes, your merchant service needs may evolve. We adjust our monitoring to align with these changes, ensuring that your payment processing remains cost-effective.
Preventing Rate Creep:
One of the common issues in merchant services is the gradual increase in rates over time, often referred to as ‘rate creep.’ Our continuous monitoring process is designed to identify and address any such gradual increases, ensuring that your rates remain competitive.
Negotiation as an Ongoing Process:
Negotiating with merchant service providers isn’t a one-off event. We maintain an ongoing dialogue with providers, which allows us to revisit terms periodically and negotiate further improvements or adjustments as needed.
The Impact of Continuous Monitoring on Your Bottom Line:
This proactive approach goes beyond initial cost savings. By continuously monitoring and adjusting your merchant services, we help maintain those savings, ensuring they contribute positively to your bottom line over the long term.
Conclusion:
At Merchant Sentry, we understand that the world of merchant services is dynamic, and maintaining optimal rates and fees requires continuous attention. Our approach of regular monitoring and proactive management ensures that our clients enjoy sustained savings and financial efficiency in their payment processing.
Call to Action:
Don’t let the complexities of merchant services erode your savings over time. Reach out to Merchant Sentry for ongoing monitoring and management of your merchant account, and keep your payment processing fees in check.