Elavon, Womply launch SMB technology suite

Womply, a provider of business analytics via software-as-a-service (SaaS), partnered with leading global payments acquirer Elvaon to help small and midsize businesses (SMBs) attract, retain and engage their customers. The technology suite, launched Feb. 13, 2019, addresses growing demand by SMBs for value-added services, the partners stated.

Guy Harris, president, North America and Global Revenue at Elavon, observed the rapidly changing SMB marketplace has become increasingly competitive in recent years. “Today, even sole brick-and-mortar businesses need an online presence to attract, retain and engage customers,” he said. “Our partnership with Womply further shows our commitment to digital commerce and will help our merchants quickly and easily adapt to changes in the marketplace.”

Cory Capoccia, president of Womply, agreed, adding, “Until recently, small businesses were completely forgotten as Silicon Valley spent decades helping large companies get a competitive edge through technology. We’re thrilled to partner with Elavon, one of the industry’s top payment processors, to help level the playing field for small businesses.”

SMBs embrace SaaS

Competitive pressures have driven software-as-a-service (SaaS) adoption by SMB merchants, according to a recent study by Techaisle. Researchers found adoption of cloud-based services reached 73 percent among U.S. SMBs in 2016; they expect these numbers to reach 96 percent by the end of 2019. According to the study, op-listed solutions included “CRM, supply chain management, inventory management, marketing automation, customer service, ERP and vertical applications.” Techaisle researchers additionally noted that cloud-based platforms enable businesses to react quickly to changing market conditions while automating routine business tasks, improving efficiencies and response times. However, not all SaaS platforms are created equal, Capoccia noted. Some require business owners to do more work.

“The last thing a ‘solo-preneur’ wants to do after putting in a 12-hour day is to manage another piece of software,” Capoccia said. “We give them software that does the work for them, giving them time to attract new customers. It’s a win-win-win across the board.”

Adding value to transactions

Capoccia further noted that Elavon merchants who use Elavon’s Payments Insider portal to view transaction activities, security alerts and compliance information will find additional tools and resources to engage and communicate with customers. These resources can be adapted and configured according to individual merchant requirements, he stated.

“Business owners who don’t have the time to decide on messaging can choose ‘autopilot’ and let the software do the messaging for them,” Capoccia said. “Tech-savvy do-it-yourselfers can use the software to communicate directly with customers and bridge that gap.”

The partners described the portal’s additional value-added solutions, as follows:

• Online reputation management: Merchants can see online reviews, automate responses, encourage happy customers to share feedback and attract more customers via local search.

• Customer database: The platform automatically creates a complete customer directory, appends contact information, and sends timely, targeted marketing campaigns to drive repeat business.

• Competitive analysis: Business owners can monitor their businesses to see where they stand in relation to competitors and market trends.

• Historical reports: Merchants can see daily reports and trend analysis to evaluate consumer spending patterns.

“Larger businesses can invest in people, but small and midsize merchants don’t have a vice president of customer success or a chief marketing officer,” Capoccia said. “SMBs are leveraging cloud-based solutions to compete with online-only businesses and attract, retain and engage with their customers.”

Editorial Note:

Whether you want to upgrade your POS offerings, find a payment gateway partner, bone up on fintech regs or PCI requirements, find an upcoming trade show, read about faster payments, or discover the latest innovations in merchant acquiring, The Green Sheet is the resource for you. Since 1983, we've helped empower and connect payments professionals, starting with the merchant level salespeople who bring tailored payment acceptance and digital commerce tools, along with a host of other business services to merchants across the globe. The Green Sheet Inc. is also a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals.

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