Software Provider Sees 400% Growth in Revenue Growth
Dilemma
A Midwest-based software platform provider had been in the throes of an unsuccessful white-label payments pilot yielding consistently poor service and overbilling. Additionally, due to its partner’s seeming lack of attention to security, many customers were left to operate in a vulnerable payments environment.
Objectives
1. Deliver superior customer support
2. Provide accurate and consistent pricing
3. Ensure a secure payment environment for all customers
Strategy
Reboot the white-label payment program with a different partner that was service-focused and attentive to security.
Results
1. Secure EMV environment for all customers in three months
2. 400% increase in payment revenue
3. 100% of project costs recouped in one year
Background
Partnering with multiple third-party providers to process payments through its platform presented three key problems for a Midwestern software provider.
- A multi-provider environment was too resource-consuming and costly to maintain.
- It could not control the service delivered to its customers.
- It could not control the pricing delivered to its customers.
This software platform provider made the strategic decision to shift to a “white-label” payment environment. A pilot program was created with a third-party provider, and unfortunately, it all unraveled from there.
The pilot program was marred with poor service and consistent overbilling – two major contributors to a poor customer experience. To make the situation worse, the current partner did nothing to address potential data security issues. This meant the majority of customers were operating in a vulnerable payment environment. Clearly a change needed to be made. Still confident in its white-label strategy, this software platform provider turned to Wind River for a new solution.
Objective
Wind River Steps in With a Tailored White-Label Payment Solution
We believe that success is rooted in a thorough understanding of program objectives and unique business needs, then transferring that knowledge into a comprehensive plan. As such, our starting point was to take the time to engage with this client, uncover all of their needs and identify the spectrum of capabilities required of this payment solution – from software integrations to payment channels to data security. We then turned to our best-in-class technology partners to bring together the optimal components for our client’s solution. Because of the breadth of capabilities within our select group of partners, we were able to tailor the payment solution without needing to charge hefty fees for customized development. This was a huge benefit for our client’s budget.
Strategy
Taking Control of…
- Customer Experience: Essentially, Wind River became our client’s “payment department” and provided support to customers as needed. We made it easy for the client to eventually transition into this role without needing to add staff because of the customer support capabilities we included in the solution.
- Data Security: Our client gained the ability to audit the network across all of its customers to identify any security vulnerabilities and correct them at the software platform level. Furthermore, we simplified the complexity of the information required for industry compliance by making it a much smoother, easier process for customers.
- Bringing it Together: Regardless of how large or small your business needs are or what problem you are trying to solve for your customers, Wind River can deliver an integrated payments solution that is tailored just for you.
Wind River Wrap-Up
We can work with your company to create your own success story. Give us call today and talk with one of our integrated payment experts.
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