Complex Payments Require Precision Solutions

Sandy Dougherty
Sandy Dougherty
President/CEO at Global Corporate Solutions and Senior Insurance Consultant at Exactuals
February 3, 2022

The best-in-class Japanese chef knife, or the all-in-one Swiss army knife debate pits two opposite approaches against each other. The all-in-one solution prioritizes convenience, speed, and cost, while best-in-class solutions prioritize flexibility and customization according to a business’s unique needs.

Best-in-class software is considered the best within its niche. A best-in-class software solution executes one function exceptionally well. For example, a payment solution to process complex outbound payments is considered best-in-class because it serves a single purpose.

On the other hand, a software solution that does more than only outbound payments cannot be considered best-in-class. All-in-one software solutions allow businesses to streamline processes because all functions are managed in a single interface or platform. For example, a payment solution that makes both inbound and outbound payments can be considered an all-in-one solution because it serves multiple purposes. Organizations use all-in-one solutions to save money and time having to learn multiple programs.

Why people choose all-in-one solutions

Given that all-in-one solutions involve using one vendor, they may save time on shopping around and often have lower costs associated with the technology. Further, all-in-one approaches can be more efficient because they reduce the friction between elements of a business’s IT system. When an all-in-one solution works well enough to get the job done, some organizations are okay with sacrificing perfection.

Why people choose best-in-class solutions

For other organizations, using multiple best-in-class software systems to manage different aspects of their business provides the best results for each department. For instance, a best-in-class approach to payments involves one solution for inbound payments, another for outbound payments, and others for administration.

Instead of choosing one solution that does most things moderately well, a best-in- class approach emphasizes the importance of using many solutions that are the best at what they do.

Therefore, a best-in-class approach often involves multiple vendors who specialize in one aspect of a business’s operations.

Not only does a best-in-class approach offer flexibility and customization, it also ensures that you get the highest quality product for every aspect of your business.

Things to consider

Before choosing a best-in-class or all-in-one solution, consider the following guidelines.

56% of all integrations were over budget by at least 1.25 times


A recent 2020 survey published by Statista1 found over budget by at that a staggering 56% of all integrations came in

least 1.25 times.

Most all-in-one solutions come with functionality that you don’t need or use, but you are still paying for it.

Further, many reports indicate that all-in-one implementations take longer than initially expected and thus pose a steep cost on an organization’s time.


A solution is considered scalable when it can support your organization’s growth. Therefore, software solutions must be able to adapt to changing circumstances and technological innovation over time.

The problem with all-in-one solutions is that they often lack the flexibility to scale with your business as it grows or adapts to external changes to your environment over time.


You can think of all-in-one software as being a jack of all trades or Swiss army knife. However, they often do not perform optimally at any one function.

One problem with all-in-one solutions is that they often lack focus and offer only unsophisticated solutions to complex problems.

Complexity of integration

When an organization has legacy systems they are looking to upgrade or replace, it is not unusual to discover many layers of custom integrations that must be mapped and solved before a new solution can be integrated. This discovery often causes the implementation timeline to be much longer than expected.


The efficiency and convenience of an all-in-one software product shouldn’t be the end-all-be-all factor that determines whether you adopt that product.

Areas to consider before choosing an all-in-one system include:

  • Substantial financial and operational commitment to a new system.
  • Replacing an entire IT stack with new software takes time and expertise.
  • The long-term viability of the new technology.
  • Third-party integrations may not be supported. Implementation and maintenance costs may exceed perceived benefits.

By picking a best-in-class product, you can reduce the likelihood of having to replace your entire infrastructure later.

One such best-in-class outbound payment solution is Exactuals PaymentHub. PaymentHub helps your business meet your client and partner’s expectations of a modern payments experience. Our white-label SaaS platform provides a secure all- digital portal where you can quickly and easily view the status and make-up of your payments along with supporting digital documentation.

Examples include:

  • Claims payments.
  • Vendor payments.
  • Carrier payments to Managing General Agents (MGA’s) and downlines.
  • Producer payments.
  • Provider payments, and many others.

To schedule a demo or learn more about how PaymentHub can give your admin and payment platforms a modern, digital, best-in-class transformation in weeks vs. years, contact me at sandy.doughtery@exactuals.com.

Exactuals is SOC 2 Type II and HIPAA compliant, and is a wholly owned subsidiary of Royal Bank of Canada/City National Bank.

Exactuals is an RBC company and subsidiary of City National Bank Member FDIC. City National Bank is a subsidiary of Royal Bank of Canada.

This article is for general information and education only. It is provided as a courtesy to the clients and friends of Exactuals. Exactuals does not warrant that it is accurate or complete. Opinions expressed and estimates or projections given are those of the authors or persons quoted as of the date of the article with no obligation to update or notify of inaccuracy or change. This article may not be reproduced, distributed or further published by any person without the written consent of Exactuals


1. Lui,Shanhong. “Breakdown of ERP implementation projects meeting budgets worldwide 2020.” 19 April 2020, https://www.statista.com/statistics/526454/ worldwide-erp-implementation-projects-cost/


Download the whitepaper

Thank you! Click here to download your whitepaper.
Oops! Something went wrong while submitting the form.

Ready to get started?

Want to learn more about PaymentHub?

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.