The company is a leader in the luxury retail with many exclusive boutiques in high-traffic locations.
The company faced very high card processing costs and had a long-standing relationship with its incumbent card processor. The company's management needed to ensure that its card processing costs were in line with the market.
In several workshops with senior representatives of the company, it became clear that SCUVERTA would provide expert assistance to the company in analysing card payment costs and the subsequent tender process. Through SCUVERTA, cost savings are to be realised and the acceptance solution complemented and modernised.
What SCUVERTA did
After granularly breaking down the company's current costs to the individual cost components(Interchange++), SCUVERTA realized that the pricing structure and contractual agreements were not optimal. In addition, the acceptance solution/terminals used in the boutiques as well as in e-commerce were not up to date. The current costs were then compared with SCUVERTA's price database, which contains the latest market prices for card payments from all SCUVERTA projects.
Based on the payment infrastructure/terminals and also based on the findings from the granular cost analysis, SCUVERTA recommended the company to conduct a tender to find the most competitive acceptance solution/terminals and the most attractive offer for its card payments.
SCUVERTA prepared the professional tender documents and managed the tender process. Best offers were obtained from several established card payment solution providers.
Through the creation of a professional competitive situation and the sophisticated methodology, the ideal provider was finally found for the company.
In several workshops held by SCUVERTA with the company and the providers, the focus was placed not only on the price reduction for transaction processing, but also on the system integration of the payment terminals into the POS system and the accounting solution/ERP. In addition, the company-specific reporting requirements and a solution for automated debtor reconciliation were evaluated. The roll-out planning was heavily weighted and elaborated in detail with the company's internal IT department.
With our holistic consulting, the development of the company-specific target picture for all aspects of card payments, the cost comparison with the SCUVERTA price database and the professional conduction of the tender, the following added value was created for the company:
- Development of the individual target picture for all aspects of card payments.
- Transparency in the costs of card payments.
- High and sustainable cost reduction for card processing as well as for the acceptance infrastructure/terminals.
- Complemented and modernised acceptance solution.
- Conviction to use the most ideal acceptance solution at the most attractive price.
- Minimal effort for the company - project management by SCUVERTA from A to Z.