Stripe Integration, Simplified: We Handle the Complexity, You Get the Control

Overcome Integration Complexities with Stripe – Let Us Handle the Hard Work for You

In today’s hyper-competitive business landscape, real-time financial visibility and control are essential. Businesses need to make fast, data-driven decisions to stay ahead of the competition. For organisations using Stripe, they have another source of financial data to consider. You need to integrate Stripe with your ERP system to get a complete view of your financial data. Integration with Stripe can be challenging with fragmented payment data and inconsistent reporting. This can hinder your ability to have the accurate, up-to-date insights you need to stay ahead. This lack of clarity can lead to:

• Inaccurate financial insights
• Manual reconciliation processes
• Delayed decision-making

If integration projects are a challenge for your internal IT teams, you’re not alone. Research shows:

• 1 in 3 leaders do not trust the information they use to make decisions. (source)
• 97% of businesses admit to having unacceptable data, and 50% of new data is problematic. (source)
• Only 29% of businesses platforms are currently integrated together. (source)
• 94% of businesses think data integration is a challenge. (source)

That’s where we come in. Our Stripe Integration-as-a-Service takes on the heavy lifting of integration, so you don’t have to.

Valtatech: Your Stripe Integration Partner

Integrating Stripe with your ERP platform is challenging, regardless of your ERP platform. For effective and reliable integration you need an understanding of Stripe’s architecture. While it is a powerful payment processing tool, integrating with your ERP is complex. We have helped many organisations overcome some common Stripe to ERP integration challenges. These include:

Navigating Fragmented Payment Data Across Modules

Stripe organises data into many, isolated modules like Payments, Invoices, Payouts and Subscriptions. Each of these modules generates its own set of data tables. Rarely will these tables align with your ERP’s accounting systems. This can make it difficult to centralise finance data. Equally, it creates an issue in your S2P process as well. You need a robust integration to handle reconciling Stripe charges for payments.

Handling Real-Time vs. Reconciled Data Discrepancies

Stripe operates with real-time data streams in the balance_transactions and payouts tables. These reflect instantaneous transactions, adjustments and fees. This contrasts with ERPs, which usually rely on batch data processing for reconciliation. This mismatch in timing can cause discrepancies in accuracy of data. This can be problematic for inventory reconciliation and businesses with high transaction volumes. These businesses may make data-driven decisions based on inaccurate data.

Handling Metadata and Custom Fields

Stripe’s metadata feature allows users to append custom fields to transactions. This is a useful feature to enable customisations. But it can be a source of inconsistency when attempting to integrate with your ERP system. Most ERPs have fixed schemas, meaning custom metadata fields with rich data can be hard to integrate. Data must be mapped based on an understanding of both the source and target data. Getting this step wrong could mean data being lost or incorrectly reported.

Integrating Complex Fee Structures and Refund Processing:

Stripe’s fee structure, including platform fees, network costs, and refund handling is complex. The balance_transactions table breaks down each fee into many components. This can make reconciliation with your ERP cost centres difficult. Equally, refunds, which appear in separate entries within different tables, adds extra complexity. Getting the integration, and interplay between tables and your ERP is critical. If not done correctly, it’s difficult to maintain an accurate picture of net revenue and spend.

Dealing with Payment Types and Settlement Challenges

Stripe supports many payment methods, including credit cards, bank transfers, and digital wallets. It processes each payment method differently. Payments made through Stripe often pass through the charges and payment_intents tables. This complicates integrations as ERPs typically expect uniformity in payment processing data. This can result in manual effort to align payment methods, currencies and settlement times across systems.

Currency and Multi-Account Reconciliation

For organisations working across the globe, Stripe is great to handle multi-currency transactions. But this does add extra layers of complexity. Stripe’s payouts are issued in local currencies, with exchange rates and conversion fees applied. ERP systems typically have their own exchange rate and foreign currency exchange processes. Your integration must translate between the two to prevent errors in financial reporting.

These challenges often overwhelm in-house IT teams. This leads to delays in integration projects being completed. Or worse errors in financial reporting and potential compliance risks.

A Trusted Integration Partner

We are a trusted partner to many leading organisations across the region.

“Valtatech has been an invaluable partner during the process of transforming our procure to pay (P2P) system. The project has helped us to reduce costs, identify risks and improve value delivery across the business; while providing the visibility and insights my team and I require to improve risk mitigation, due diligence processes and governance” Hanaka Kato – Corporate HQ General Manager, Konica Minolta Business Solutions Asia.

Our Technology Experience

Our Stripe Integration-as-a-Service (IaaS): A Cost-Efficient Solution to Drive Value

We understand the unique challenges of integrating Stripe with your ERP platform. Our IaaS takes the integration burden off your internal IT teams. We offer a seamless solution to integrate Stripe and other business systems with your ERP.

Why Leading Companies Trust Us for Their Integrations:

• Deep Stripe Expertise. Our team has extensive knowledge of Stripe’s APIs, payment modules and data architecture. This ensures that we integrate Stripe into your existing platforms without causing disruptions.
• Pre-built Connectors. We have many pre-built connectors with different platforms. This helps reduce the risk around integration platforms and speeds up time to value.
• Comprehensive Financial Data Visibility. We help you consolidate all financial data into your ERP. Providing you with clear insights for your finance teams to make data-driven decisions.
• Reduced IT Workload. With our service, your IT teams are free to focus on strategic initiatives. All while we manage the technical complexities of integrating Stripe.
• Predictable Pricing. Our transparent subscription model ensures you avoid hidden costs. Giving you confidence in staying within budget while achieving maximum value.
• 24/7 Monitoring. Our integration solutions come with round-the-clock monitoring and support. This ensures smooth running of your systems and that any issues are resolved quickly.
• Advanced Security. We prioritise data security, ensuring that your Stripe integration meets the highest standards. Our integration technology adheres to PCI DSS, SOC 2 Type II, and ISO 27001 certifications.

Why Choose Valtatech?

• Focus on Business Value: We go beyond simply connecting systems. We work with you to define your goals and develop a strategy to deliver measurable value.
• Partnership Approach: We believe in building strong, collaborative relationships with our clients. We are invested in your success and will work alongside you every step of the way.
• Proven Source-to-Pay Expertise: Our team are finance and procurement process experts. We bring best practices tailored to your organisation’s needs. Our integrations are designed to support and enhance your finance and procurement processes.

Ready to Integrate Stripe with Your ERP?

Do you want all your finance data in your ERP? Schedule a consultation today and learn how our Stripe IaaS can help your business.

FAQs:

• How long does the Stripe integration process take? The timeline varies based on your ERPs complexity. But with our custom connectors and expert team we ensure an efficient process.
• Can you integrate Stripe with our legacy systems? Yes, our team specialises in creating custom integrations. We haven’t come across a legacy platform we haven’t found a way to integrate with.

What support do you offer after the integration? Our ongoing monitoring and support ensures prompt identification and resolution of issues.