The operations manager has a difficult tightrope to walk. On the one hand, maintaining the availability of critical systems while also preparing for the future. On the other, continually driving down the costs of IT while also enabling innovation and growth.
This has to be done in the face of changing technology, customer buying habits, industry standards and competitive threats. Then there are the internal considerations: mergers and acquisitions, half-implemented projects, regulatory change.
To secure operational advantage in the age of perpetual change, retailers need the right business partners. So, if your current payments provider cannot support your global growth ambitions quickly and seamlessly. If they cannot continually drive down the cost of IT infrastructure and operations. Or help remove elements of PCI DSS from scope. Maybe it’s time to switch.
Here are five considerations to kick-start your thinking and some internal conversations.
1. Spend less on suppliers
If you choose your payments partner wisely, you could be well on the way to realising significant cost savings over the short, medium and long-term. A single payments provider able to support you wherever and however you trade means less everything. Less time negotiating contracts with separate suppliers in each country. Less spent on legal fees. Less time and cost integrating system changes.
2. Choose certainty
A single payment gateway gives you predictability in budgeting and forecasting as you grow. It helps you scale up or enhance your offering in a cost-controlled manner and to predictable time scales. Roll out global changes quickly and predictably. And minimise exceptions and uncertainties to mitigate operational and implementation risks.
3. Streamline your interfaces
If you want to trade across multiple channels, countries, payment methods, currencies and acquirers, there really is no need to multiply the costs on the back-end, too. Pick a payment partner who can offer you a single contact, contract, statement and settlement date.
4. Leverage your partner's investment
You’re not running a payments business, so why not minimise your investment in payments? Cut costs and increase business efficiencies by leveraging the developments your partner does across their payments platform. Outsource the hassle of compliance, card scheme mandates or industry updates.
5. Go global
When it comes to payment, go global by default. A global payments template will allow you to be up and running in a new market or channel, generating revenue in the shortest possible time. It also grows with your business as there is always scope to turn on additional sales channels, currencies or value-added services post-launch, if you need to.