Refinitiv case study | How LG Electronics reduces operational risk across its FX trading workflow

06-12-2021 | treasuryXL | Refinitiv | LinkedIn |

LG Electronics is a global leader and technology innovator in consumer electronics, mobile communications and home appliances. Following an analysis of the market, LG decided to implement a trading and confirmation solution in order to improve its foreign exchange processes. Read the case study to find out more.

LG Electronics is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing 87,000 people working in 113 locations around the world. With 2013 global sales of US$53.1 billion, LG comprises five business units.

The company’s previous foreign exchange had several inefficiencies and risk of manual errors, and was difficult to audit.  Too much time was spent on simple and mundane processing rather than value-added functions. The task for LG was therefore to find a solution that would allow the company to solve these inefficiencies and allow its staff to focus on other areas of the job.

As a solution, LG decided to implement a trading and confirmation solution in order to improve its foreign exchange processes. The system ensures that the best price will be available and LG can then execute on the platform electronically. With this innovative technology, LG has been able to really reduce its operational risk across their FX trading workflow.

 

“We now have the ability for users in our various Asia entities to create, modify and approve FX spot and forward orders electronically,” says Calvin Lee, Manager, Asia Pacific Treasury Centre at LG. “The solution will then electronically consolidate orders for our Regional Treasury Centre to control and feed approved orders to our relationship banks to obtain an electronic ‘multi-bank quote’”.

 

The new platform LG has implemented has greatly increased the efficiency of the company’s FX process while at the same reducing the risk the group was exposed to. On top of these advantages, LG has benefited from much-improved control as a result of implementing the solution.

Key benefits

  • Productivity gains
  • Process efficiencies
  • Foreign exchange gain(s)
  • Risk removed/mitigated
  • Increased control

 

 

 

Does Your Business Need Protection from FX Uncertainty?

| 02-12-2021 | Xe | treasuryXL | LinkedIn |

Don’t have a bank account? Want to have cash on you? In those cases, cash pickup could be the money transfer method for you.

One of the most interesting aspects of what the XE Business Solutions team does is having relationships across a broad range of industries. It helps our team curate unique insights into the various pressures and financial models being used by all the businesses we work with. The relationships our foreign exchange sales consultants build fine-tune their understanding of regional business sentiment and common international best practices.

There are many viewpoints on how to treat fast-moving FX rates. Some simply hope that the market will self-correct over time. Others make best-effort forecasts to try to understand all possible currency value directions of currency prices. From our vantage point, we see that businesses which are exposed to significant risks are more likely to achieve their objectives by employing a hedging program.

Foreign Exchange Volatility is a Universal Business Challenge

Big brands are just as susceptible to market movements as any other business segment. Currency volatility can impact profit margins if not managed correctly. Earnings reports are replete with warnings to shareholders pertaining to the value of assets and cash flows being affected by unmanaged or unexpected shifts in values of currency.

Looking deeper into hedging behaviours, enterprise-level businesses have a tendency to employ rich hedging programs and while it is by no means necessary to emulate their level of complexity; certainly the point regarding ‘best practices’ is clear.

Here are some insights on how the ‘big guys’ see ForEx risks across the globe as a result of their survey of corporations (Deloitte 2016 Global FX Survey and IMP Exchange Rate Risk Measurement and Management working paper: Issues and Approaches for Firms):

The top three reported ‘Primary hedging objectives’ were defined as:

  1. Reducing income statement volatility

  2.  Protecting cash flows

  3.  Protecting consolidated earnings

In terms of strategy, the breakdown of risk management strategies is as follows:

  • 8% of those surveyed employ a static or annual hedging programme (buying once a year)

  • 31% use a rolling hedge but a flat amount (buying monthly, quarterly etc)

  • 28% actively hedge using a rolling hedge strategy increasing over time to seek to average rates

  • 33% use ad hoc or hedging by situation

The survey found that global corporate hedging strategies consist of these approaches:

  • Hedging using a financial instrument like a forward contract or option – 89%

  • Naturally hedging through balancing buying and selling in the same currency (some or all of the exposure) – 58%

  • Passing costs to suppliers or customers – 28%

  • No FX risk management practices at all – 2%

These breakdowns further:

  • Using a FX forward or Non-deliverable forward – 92%

  • Using FX Options – 30%

  • Using specifically FX Option collars – 15%

It is always interesting to get a look into the strategies employed by others and particularly the way that large, professional companies approach managing a key part of their risk program.

The key takeaway is that almost all of the companies Deloitte surveyed are hedging using some kind of financial tool specifically designed to provide consistency and protect cash flows.

Probably a much higher percentage than many would think are using Options products and rolling hedges over on a regular basis as part of a specific policy that guides them in virtually any market condition. Some real food for thought there….

Currency Market Analysis

Here is today’s market recap:

GBPEUR – The Pound maintained its position yesterday and this morning against the Euro as many traders await details on what steps Members of Parliament will take when it opens next week. Labour has indicated they will seek and emergency debate on Brexit next week but no information regarding a no-confidence vote is yet available.

GBPUSD – The pound is expected to come under pressure in general as the suspension of parliament is seen as increasing the chances of a no-deal Brexit. With this in mind, it appears likely that we could test and break the 1.2060/1.2015 level downwards, which likely will open up losses against the Dollar of some significant ground.

EURUSD – While the trading calm remains in the pair, there is a chance hard economic data will begin to outweigh hard sentiment from the ECB. Germany reported a decline of 2.2% in Retail Sales in July (on top of a downward revision). Consumption is largely propping up the German economy and this is slowing as well. A potential risk for euro weakness exists.

Please contact us for more info about your international payments or log in.

Click here to register and save now.

 

Please Note: The information, materials, accompanying literature and documentation available on our internet site is for information purposes only and is not intended as a solicitation for funds or a recommendation to trade. XE, its officers, employees and representatives accept no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the above information.

Click here more information about XE

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How does BRITA GmbH use Nomentia Payments in Germany?

| 01-12-2021 | treasuryXL | Nomentia | LinkedIn |

BRITA GmbH, a German water filter manufacturer with total sales of 617 million euros in the business year 2020 and 2,205 employees worldwide at the end of 2020, is the market leader in drinking water optimization and individualization. The company is represented by 30 national and international subsidiaries and branches as well as shareholdings. Brita has manufacturing facilities in Germany, Italy, China and the United Kingdom.

The challenge

Brita has a complex business. The company’s products are distributed globally in over 70 countries on all 4 continents.

Brita’s treasury department was facing the following challenges:

 

– The used multibank payment tool was discontinued.

– Lack of a system that is independent of banks.

– Lack of centralization of treasury and cash management.

 

Currently, cash management is not centralized in the company. But there are group requirements setting a minimum standard for banking systems. However, rolling out the project in Germany was the first step to evaluate the possible adoption also by the subsidiaries.

To roll out Nomentia worldwide and achieve the goal of having one system for all payment transactions, first, Brita needs to take a few vital strategic moves, such as ensuring that all subsidiaries are using a group bank and the same ERP system, as well as setting up connectivity with all the group banks to be able to handle also those payment types that cannot go through Electronic Banking Internet Communication (EBICS).

The solution

Instead of working with as many as 7 different banks just within Germany to process payments, Brita chose to use Nomentia, as a single tool that is independent of banks.

Currently, Brita is connected to two major global banks and a few local banks through EBICS. They are currently discovering the possibility to add more connections, like a host-to-host connection to a major global bank.

In the beginning, Brita’s treasury and IT departments had to work closely with Nomentia to set up the project that required a lot of communication from both parties.

 

“Once our IT understood that Nomentia can do magic by connecting to our ERP system, retrieve a file from the bank and send it to our ERP in the right format, it was easy to get their buy-in. Our team had a lot of experience with long ERP projects and they were impressed with Nomentia’s capabilities” – said Doreen Lenk, Manager Group Treasury & Risk Management.

 

Nomentia’s Payments solution is currently used by almost all Brita’s German branches and they are currently in the middle of rolling out the solution in Italy. In case that’s a success, they may look at starting to use Nomentia in other countries as well.

The benefits

Rolling out a new product for treasury management can often be a challenge. It requires strategic planning from the department, cooperation with IT, and working closely with the solution provider. In addition, aligning the group in different countries also requires a lot of paperwork as well as training.

Brita has realized three key benefits of working with Nomentia. These benefits can be even further realized after further adoption of the solution.

1. One system for all in Germany for better processes and decreasing the number of errors

 

The biggest benefit has been that German branches can use one tool to communicate with all German banks. Without Nomentia, Brita would be working with several systems from several banks. Now all transactions go through Nomentia which makes the process less error-prone.

2. Automated processes

 

The processes have been automated for the German branches and this saves a lot of time for the accountants. As Nomentia is also integrated with SAP, they can see all the invoices from SAP, too.

3. Avoid fraud

 

With having just one system in place, it’s easier to have the highest level of transparency of the transactions and access rights.

 

 

CONTACT US 

 

 

Who is process owner in the search for a treasurer?

| 30-11-2021 | treasuryXL | Pieter de Kiewit | LinkedIn | Over the last years, Treasurer Search found hundreds of treasurers. Our client contact persons are HR managers & internal recruiters, the CFO, Group Treasurer and sometimes even procurement. There is no standard first contact. Working with more than one often works best. This is what […]

Read more

Figuring Out your Company’s FX Requirements

| 25-11-2021| treasuryXL | XE | LinkedIn

There is no crystal ball that can accurately tell you the future of where a currency will trade in the short, medium or long-term.

 

When looking to partner with an FX provider, your first priority should be to evaluate the payments your business has made previously in order to get a better idea of the FX products and services that will best fit your business’ needs. And, when selecting a provider, make sure they understand your industry and the jurisdictions you are making payments to.

1. Frequency

How often are you making (or will you make) international payments? Making overseas payments costs more per transaction. The more payments you make, the more critical it is to get the cost per transaction right.

2. Amounts

The amounts you transfer affects the overall cost. Smaller amounts will have a higher margin added, therefore it’s worth determining whether you can bundle your payments to sharpen the margin you attract.

3. Timing

With exchange rates constantly fluctuating, the timing of your payments will have an impact on your overall profitability. If you do business in areas where currency valuations are highly volatile, an FX provider which can effectively advise you about the risks and opportunities of short or long-term foreign exchange contracts is ideal.

4. Industry

Each industry is different when it comes to the three factors above. Therefore, selecting a provider that understands your industry can make a big difference, as they’ll often be able to suggest the best foreign exchange service offering for your type of business.

Your business is as unique as you are. Don’t settle for generic money transfer services which treat your business as a number on a spreadsheet.

5. Geography

Finally, when selecting an FX provider, make sure they understand any regional nuances particular to the jurisdictions you are sending your money to – this will ensure your payments go through smoothly, and in a timely manner.

Taking the time to understand these five factors is the first step in taking control of your business’s FX requirements and will put you in good stead when selecting the right FX provider for your business.

Ready to learn more?

Download our essential FX Guide for Aussie and Kiwi businesses.


The hidden secret behind the different types of foreign exchange exposure

23-11-2021 | treasuryXL | Kantox | LinkedIn

Fresh from leaving the famous Genesis rock band that he helped found, songwriter and musician Peter Gabriel came out with an innovative album called Exposure, where his fascination with electronics and new recording techniques was openly on display. In the eponymous song, he kept on droning the E-word over and over:

Exposure
Exposure
Exposure
Exposure
Exposure

 

At Kantox we share this almost obsessive-like concern. But we care about FX exposure, a very specific kind of exposure. And so do most corporate treasurers: according to the last Kantox & TMI FX Survey, exposure-related concerns are seen by as many as 66% of participants as the most important FX challenge faced by companies.

In this blog we seek to determine the three types of foreign exchange exposure:

  1. Forecasts of revenues and expenditures
  2. Firm commitments for sales/purchase orders
  3. Accounts receivable/payable

 

Understanding the different types of foreign exchange exposure

FX exposure, in a nutshell, is the degree to which a company is affected by changes in exchange rates. To arrive at a precise definition of the three types of foreign exchange exposure, we need to understand the goals set by management in terms of its FX risk management policy.

If the goal is to remove accounting FX gains and losses, then accounts receivable and payable are the key pieces of exposure. If, however, management seeks to protect company cash flows from currency fluctuations, then the relevant type of exposure results from a set of company-specific business parameters.

These parameters include the firm’s sensitivity to FX (as measured by its profit margins and the weight of foreign currencies in the business), its degree of forecasting accuracy, the forward premium/discount of the currencies in which it operates, and several others. But the decisive element to consider is the firm’s pricing parameters.

Steady or dynamic prices? Forecasts and firm commitments

When determining the types of FX exposure, pricing dynamics play a key role. Does the company adjust selling prices after a campaign or budget period is over? Does it attempt to keep prices steady for a set of periods ahead? Or does it price dynamically with an FX rate? (*). Most firms implement one, or a combination, of the following pricing strategies:

Steady prices for individual campaigns/budgets. Some businesses keep steady prices for an entire campaign or budget and adjust them as the following campaign or budget period unfolds, thus incorporating FX fluctuations into the new prices.

⇒ TYPE OF FX EXPOSURE: forecasted sales and expenditures for each individual campaign or budget.

Steady prices for a set of campaigns/budgets. Competitive pressures may lead firms to keep steady prices across a set of campaigns or budgets without adjusting them, even in the face of sharp adverse currency fluctuations.

⇒TYPE OF FX EXPOSURE: rolling forecasts for sales and expenditures across a set of campaigns or budgets.

Dynamic prices. For firms that operate in a dynamic pricing environment, pricing is itself a natural hedging mechanism. FX risk arises from the time lapse between the moment a transaction is contracted and the moment it is finally settled in cash.

⇒TYPE OF FX EXPOSURE: firm commitments for sale and purchase orders

FX management and the types of foreign exchange exposure

This brief overview of the three types of foreign exchange exposure provides the starting point for a well-structured FX management process. Exposure items must be properly collected and processed before hedging programs can be implemented. Risk managers must know with precision how to retrieve, from disparate company systems, the information relating to each type of exposure.

 

Whereas most Treasury Management Systems provide the necessary information in terms of accounts payable/receivable, data about the two other forms of FX exposure —forecasts and firm commitments— are usually scattered between a host of company systems (ERP, CRM, specific software tools) and spreadsheets. This leads to a number of practical problems whose importance is usually underestimated:

  • Can the relevant pieces of exposure be retrieved in a timely manner?
  • Is the information complete and granular enough?
  • Who validates it, and through which processes?

Quite logically, the level of complexity increases in situations where different pricing parameters coexist within the enterprise, many currency pairs are in use, and both accounting and cash-flow related exposures are treated.

Technology to the rescue

The good news for treasurers is that Currency Management Automation allows them to efficiently collect and process the firm’s FX exposure with procedures that eliminate human error and other operational risks. The solution uses APIs to run the end-to-end FX workflow, allowing exposure data to seamlessly flow between different systems —ERP, TMS and others— without any need for spreadsheets.

Treasurers set up their own business rules according to the different types of foreign exchange exposure they need to collect and process, and let technology remove the risks and costs associated with manually executed tasks. With an added bonus: they can remove concerns about the accuracy of their budgeted FX exposure, giving them more time to improve forecasts.

(*) Note that more than one type of price dynamics can exist within the same company — think of heavy machines, spare parts, and services in the industrial engineering space, each with its different pricing criteria. In this case, the type of FX exposure will be different for each business line.

WEBINAR ALERT | Everything you need to know about payments for future-proof cash and treasury management

treasuryXL | Nomentia |

 

Date & time: December 2, 2021 at 2.00 pm CET | Duration 45 minutes

Finding the optimal payments process can be challenging. Therefore, TreasuryXL and Nomentia experts join forces to discuss payments in more detail.

Join the webinar to learn more about: 

  • Introduction TreasuryXL and Nomentia
  • Payment set-ups for a future-proof multinationals
  • Areas of new developments and challenges
  • Dealing with different bank connections and ERP interfaces
  • The involvement of IT in technical payment set-ups 
  • User management
  • Fraud management
  • Putting it all together

At the end of the webinar, we’ll have time for a short Q&A session to answer your questions.

Click on the banner for registration.

Meet the speakers

Kees-Jan Kindt

Seasoned Treasury Expert
TreasuryXL / Gazprom

Huub Wevers

Huub Wevers

Senior Sales Manager
Nomentia

Tapani Oksala

Solutions Manager
Nomentia


 

 

Expert-led Conversation | The Digitalisation of Treasury: Your FX Risk Management toolbox for 2022 | 30 November 2021

treasuryXL | Kantox

 

Date & time: November 30, 2021 at 9.30 am CET | Duration 45 minutes

2022 is just around the corner, and we want to make sure you’re armed with the best technology tools to help push your treasury department to the next level. 

Join Kantox and TreasuryXL in this expert-led conversation on the future of FX risk management and the treasury trends to tap into in 2022.

 

Moderated by Pieter de Kiewit, owner of Treasurer Search, this deep-dive into the evolution of technology in treasury departments and the increasingly strategic role of the treasurer, will bring together insights from industry leaders, including Florin Hica, Head of Global Middle Office and Risk Strategies at ZF Group, Antonio Rami, Chief Growth Officer and co-founder at Kantox and François Masquelier, incoming President of the EACT.

 

The panel will be covering the following topics:

  • Treasury trends towards digitalisation
  • Why your Excel spreadsheet is not enough to manage currencies
  • The changing role of the treasurerThe session will close with a Q&A session.

Simplify your global business payments

18-11-2021| treasuryXL | XE | LinkedIn

 

Whether your business needs to process 3 or 150 international payments a month, learn how you can make payments to 220+ countries within your own business applications, and benefit from:

• Faster automated payment processes
• Savings using bank-beating exchange rates
• More accurate reporting by eliminating manual errors
• Secure transactions by validating payment data before it’s sent
• Transparency by receive tracking and reporting of each payment to its destination
• Flexibility to send to multiple currencies in a single file upload

Xe enables you to achieve everything a third-party payment provider has to offer, directly from your own business applications.

REQUEST DEMO

 

5 reasons why integrating Xe Global Business Payments into your own business applications will help power your business:

1. Improve your Financial Reporting
Xe Global Payments within your own business platform allows you to automatically reconcile foreign currency exchange rates directly at time of transaction. This means no more duplication or transferal of data from one application to another. Greater accuracy means greater transparency and visibility on your financial reporting, enabling you to make more confident business decisions.

2. Protect supply chain relationships and staff in overseas offices
If you are paying suppliers overseas, you want to ensure that your supply chain is protected, that you have full visibility on expenses so that your customer base is not impacted by any delays or rise in cost. And if you need to pay staff overseas you want to ensure they receive the right amount, on time, every time. By using Xe Global Business Payments within your own platform, any errors with bank account details are immediately highlighted, giving you time to rectify any costly mistakes.

3. Stop paying more than you should
Xe’s preferential exchange rates typically save you typically more money than if you used your bank for your business global payments. When you streamline your payment processes using Xe Global Business Payments in your own application, you are saving time on every overseas payment. That means you can save both time and money.

4. Improve speed and accuracy of high-volume, time-sensitive payments
It’s so important to have strict data verification and validation processes. We verify payments before they’re sent, so we can quickly flag any unsuccessful payments. For example, our system has a table of rules for each of the different payout currencies we offer. If you uploaded a payment to Brazil without a bank CLABE number, it would tell you it’s missing. Sending certain currencies can be extremely problematic, so we take out the guess work and make sure payments get where they need to go.

5. Get the right specialist support
A solution can only be as good as the support it offers. At Xe, we understand the daily challenges global Finance functions face. Our support team establishes a good rapport with clients and get to grips with the practical and technical elements of resolving problems quickly and efficiently. Our experts are available around the clock, to resolve issues no matter where clients are located or what time zone they’re in.

By using Xe Global Payments within your Microsoft Dynamics 365 or Sage Intacct applications, you can streamline your international payments process, and benefit from quality customer service and support from Xe’s front and back-end operations.

 

REQUEST DEMO


Online checkout starts before the payment solution (Dutch Article)

| 17-11-2021 | treasuryXL | EcomStream | Ramon Helwegen |

Het sleutelmoment in de e-commerce-funnel is de betaling. Online betalen blijft een hobbel, zeker in vergelijking met het gemak van contactloos en zonder pincode betalen in de winkel. Snelle en gemakkelijke betaling online verdient daarom speciale aandacht.

Het is goed om je te realiseren dat een klant online meerdere processen doorloopt voordat een conversie kan plaatsvinden. Tijdens dit proces bied je de klant zoveel mogelijk aandacht, beleving  en gerichte informatie over dat waar hij of zij naar op zoek is. Dit alles binnen de ‘wetten’ van de optimale online klantbeleving.

Snel betalen

Maar zodra de klant de keuze definitief heeft gemaakt volgt het betaalproces. Voor jou als verkoper is dat een belangrijk proces op weg naar conversie, maar voor je klant is het een noodzakelijk kwaad waarin hij inhoudelijk veel minder geïnteresseerd is. De keuze is gemaakt en je klant wil gewoon zo snel mogelijk weg. In dit proces is snelheid dus van het grootste belang. Hoe sneller je klant kan betalen en vertrekken, hoe kleiner de kans dat hij  alsnog afhaakt.

De online sales funnel is geen lineair proces. Knip het daarom in tweeën:

  • Online shoppen = Aandacht en beleving
  • Online afrekenen = Snelheid

Schematisch zou je er zo naar kunnen kijken:

De snelheid van het afrekenproces bepaalt mede of je klant het inderdaad gaat halen tot en met de betaling. Hoe meer tijd je klant kwijt is aan dit proces, hoe groter de kans op afhakers (drop-offs).

Het grootste deel van het afrekenproces bevindt zich overigens buiten het domein van de betaalprovider. Er zijn uitzonderingen, bijvoorbeeld wanneer je klant met PayPal betaalt, maar dan gaat het dus om een situatie zonder vrije keuze van de betaalmethode. Ook is de afweging vanuit het ‘kosten-versus-conversie’-oogpunt in dit geval vaak uitdagend.

Het online afrekenproces eindigt bij de betaaloplossing

Mooi zo: je klant heeft het gehaald tot aan de betaalpagina. In dit laatste gedeelte van de checkout is de betaaloplossing van je betaalprovider wél van grote invloed op de conversie. Zowel net vóór de betaling als net ná de betaling door je klant.

Enkele aspecten van net vóór de betaling waarbij de betaaloplossing van invloed is op de conversie lees je hieronder. Het gaat hier over zaken die van toepassing zijn op de betaalpagina. Het gaat hier over aspecten die van toepassing zijn op de betaalpagina. Dus vanaf de keuze van betaalmethode, ofwel het moment dat je klant daadwerkelijk wil gaan betalen. Ook noem ik aspecten van net ná de betaling waarbij de betaaloplossing van invloed is op de conversie. Het  gaat hier om aspecten waarbij je klant het hele checkout-proces met succes heeft doorlopen, op de laatste betaalknop heeft gedrukt, en er toch een kink in de conversiekabel komt.

  • De juiste mix van relevante betaalmethoden. Je PSP kan je hier onderbouwd inzicht in geven. Welke betaalmethoden zijn in je marktsegment noodzakelijk om een optimale conversie te behalen. Kijk hiervoor ook naar verschillende landen en voorkeuren. Maar maak per betaalmethode ook de ‘kosten-versus-conversie’-afweging.
  • Zorg dat alleen klanten voor wie de betaalmethoden relevant zijn deze te zien krijgen op de betaalpagina. Het heeft bijvoorbeeld geen zin om een Engelse klant te confronteren met iDEAL als mogelijke betaalmethode.
  • Zorg ervoor dat je klant de betaling doorloopt in de look & feel van je bedrijf. Ook als je nog gebruik maakt van een redirect-pagina naar je betaalprovider.
  • Geef klanten de mogelijkheid om betaalgegevens op te slaan. Dat stimuleert niet alleen herhalingsaankopen, maar het invoeren van een 16-cijferig creditcardnummer geeft een grote kans op fouten.
  • Een responsive mobiele klantbeleving met een finger-friendly numeriek toetsenbord en een numerieke veldherkenning is wel zo prettig voor je klant.
  • De ‘achtergelaten winkelwagen’-recovery. Een verlaten winkelwagentje opvolgen in een branded e-mail kan je klant motiveren om toch af te rekenen.
  • Retries: wordt de betaling toch niet geaccepteerd? Zorg er dan voor dat je klant een alternatieve betaalmethode krijgt aangeboden, maar zonder dat de winkelmand per ongeluk wordt geleegd.
  • Fraude: een klant kan met een gestolen credit card afrekenen, of het geleverde ter discussie stellen. In beide gevallen staat de conversie op losse schroeven. Verkoop je een fraudegevoelig product of een fraudegevoelige dienst, zorg dan voor een goede fraudemanagementoplossing waarmee je de balans tussen je conversie en  je frauderatio goed kunt managen.
  • Het optimaliseren van autorisatie-success rates op creditcardtransacties: dit is vooral  interessant als je veel naar relatief ‘exotische’ landen verkoopt waar de autorisatie success rate op creditcards laag kan zijn. Steeds meer PSP’s bieden netwerkoplossingen waarmee ze de autorisatie-success rate kunnen verbeteren.

Conclusie

In de winkel betalen kan tegenwoordig makkelijk en snel. Je houd je telefoon dicht bij de terminal en klaar. Online betalen is helaas vaak nog tijdrovend. Want zodra je klant in het online winkelmandje op “bestellen” klikt wordt een checkout-proces doorlopen. De optimalisatie van dit proces vindt plaats binnen en buiten het domein van je betaalprovider. Een snel checkout-proces met een geoptimaliseerde klantbeleving helpt je klant om deze laatste fase van je funnel met succes te doorlopen.

 

 

 

Ramon Helwegen

 

 

 

 

About EcomStream

EcomStream is an independent consultancy and is specialized in optimization of online, omnichannel and marketplace payment solutions, and optimization of checkout flows.

The goal is to achieve much lower costs for you while creating a much better customer experience for your customers.

Thanks to its lean organisational model, EcomStream will help you to reduce the cost of ownership of your payment solution and to improve your ROI, fast.