Resources
September 12, 2018

Isabelle Gillman

A Step-by-Step Explanation of Staitment

In order for Staitment to function at the sophisticated level that it does, our SwipeSum engineers spent hours developing rules and writing code  to ensure that the AI-based platform could analyze several different kinds of statements. We used Optical Character Recognition (OCR) technology to categorize fees and analyze statements, ensuring that Staitment was programmed to be the best version of itself to serve your business. In this article, we'll take you through a step-by-step process of how Staitment works.

Intake Form

The Intake Form is the first page you will see when logging into Staitment. You will fill out your business' information including your company name, the contact at the company responsible for managing payments, your company's logo, and other details. After you fill these out, you'll be asked to upload one of your credit card processing statements to begin your analysis.

Edit Statement Analysis

Immediately after you upload your statement, you will arrive at this page. While Staitment already automatically extracted and presented all of your fees, this page gives you the chance to manually review your statement and add, edit, or remove fees as you see fit.

Final Statement Analysis

At the end of the "Edit Statement Analysis" phase, when everything is analyzed correctly, you can click the "Finalize" button to be presented with your Final Statement Analysis. This page is the deliverable page that goes to the merchant, and you can download it as a PDF to your computer.

Edit Proposal Page

When you finish the Statement Analysis phase, you can click "Create Proposal" to arrive at this page. The left half, in white, is your initial statement analysis. You can manually enter your proposed rates and fees in the blue column, and our Staitment software will calculate your potential total savings and effective rate in real time as you enter your desired numbers.

Single Merchant View

Whenever you upload a statement, you also create a merchant profile for your business, which will show your name, logo, and contact information. On this page, you can upload more statements and create more proposals. Your merchant profile is the home of all of your statements and proposals. This page is especially useful if your business has multiple locations; it's well organized, and extremely user-friendly.

By clicking the "Approved" button, you are saying that have approved your proposal and are looking to move forward in the process of switching payments processors.

When you click the "Create Comparison Proposal" button, you will be asked to pick statements you want to use for comparison. You can attach multiple statements to one proposal, manually enter proposed fees, and more in order to give yourself a larger picture of your payments processing patterns.

Merchant Management

The Merchant Management page is a list of all the merchants in the system. This is only visible to admins of Staitment; low-level users can only see the merchants that they've created.

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