Are omni-channel and cross-border a perfect match?

Retailers are now familiar with operating multiple channels, but do their back office systems talk to one another on a global scale? Probably not. Time is spent, more often that not, patching things up different systems and reporting lines behind the scenes.

So can a retailer manage multiple sales channels and markets simultaneously? 

Yes – and there are many benefits to this approach. It’s all about consolidating suppliers to bring efficiencies back to the business. 

Let’s look at how some of the benefits can address major challenges associated with this approach:

1. Suppliers. There are many payment suppliers to consider from EPOS providers to acquirers to payment gateways. Retailers are often managing these relationships and implementations on a channel and country level which is costly and resource inefficient. Payment-led omni-channel can address these issues by consolidating supplier integrations (including internal retail systems) into one.

2. Support. Offline and online support systems are often managed independently of one another. Omni-channel can deliver a fully integrated support structure to manage both the online and offline footprint, globally. And that’s whilst still addressing PCI DSS and other regulation requirements. 

3. Reporting. – The ability to track and report on data should be easy, but it’s not if data is reported by channel. A consolidated approach to reporting can help track the same customer across channel and market. Not only does this inform buying behaviour insights, but eases the burden on finance teams who are responsible for managing chargebacks, cash flow management etc.

Payment-led omni-channel can help solve a wide range of back-end system challenges.

Find out how to apply these concepts to your business with part 1 of our quick guide:

How to get ahead of the game with payment-led omni-channel.

Written by:   ,  16 Aug 2016