I quite often find myself speaking to finance officers of some of the world’s most recognised retail brands. All too often they have something rather alarming in common: the number of staff and hours dedicated to payment reconciliation.
The cost they attribute to this is amazing. I was shocked when one retailer said $10 million. This was the figure they claimed PXP Financial’s ANYpay hosted payment platform saved them in reconciliation costs alone per year. They operated around 100 stores in various European and Asian countries.
I recently spoke to another global brand which operates nearly 3,000 stores in more than 40 countries. They wouldn’t say how much they thought PXP Financial could save them. But conceded that it was “way, way beyond” the $10 million figure.
Time to switch?
Businesses have to offer a range of payment methods to close sales. Unfortunately,
more payment types means more back-office complexity and more time and resource required for reconciliation.
No business wants to be in the position where back-office inefficiencies dictate the pace of expansion. Or where the costs of reconciliation are growing as fast as or even faster than revenue. If this is the situation in your business, maybe it’s time to switch.
Consolidation may well be the answer. Businesses need a payments partner who can offer a many-into-one proposition. That is to say, combine multiple payment methods, currencies, channels and countries into one interface, statement, set of rates, settlement date and contract.
That’s exactly what PXP Financial’s ANYpay hosted payment platform offers.
Time for ANYpay?
ANYpay is a global multi-channel payment solution, which consolidates all transactions for easier, more accurate, lower cost reconciliation.
Need a holistic view of your business to track performance, report upwards and make effective decisions quickly? ANYpay provides meaningful reports of sales in real time by country, channel, store or even individual terminal level.
For a consultation on your payments requirements, please complete the form below or call us +44(0) 844 209 4370.