Case Studies
Digital and Recurring Merchant Achieves Big Payments Cost Savings With CMSPI
After the successful completion of an audit and RFP, our experts are now focused on highlighting opportunities to drive incremental revenue growth.
Intro
A large online specialty marketplace (with recurring volume) operating in the U.S., partnered with us to assess their payments arrangements and find cost reduction opportunities.
Key Achievements
- $1.2m in annual savings successfully negotiated
- Client strengthened relationship with incumbent supplier
- Leveraged the power of CMSPI’s vast data lake to uncover opportunities
The Challenge
As an ecommerce merchant, the client was juggling a variety of complexities – including optimizing their PINless debit routing arrangements, minimizing fraud and chargebacks, understanding and implementing alternative routing processes, and improving their transaction efficiencies.
The key goal for the client was to have a partner that would help unlock cost savings, professionally manage an RFP/RFI process, and help them stay in an optimal position across all payment types.
The Solution
Our team seamlessly onboarded the client’s payments information into the CMSPI Platform to gain a deep understanding of their estate.
Our experts led a competitive RFP process, managed end-to-end, and while the client retained executive control, there was little resource required. After the initial discovery calls with the client’s internal team, we drafted all documentation, engaged directly with vendors, reviewed RFP responses, and provided a comprehensive qualitative and quantitative analysis. Our specialists managed vendor meetings, negotiations, and contract reviews, giving the client peace of mind they were getting the best pricing and solutions for their unique business needs.
“Using our market knowledge around supplier capabilities, our team was able to work with this merchant on delivering a market-leading solution, resulting in substantial six-figure cost savings. Alongside the benefit that CMSPI delivered during this project, our team ensured that any lessons learned were applied to the RFPs that immediately followed this one, passing on that value on to our larger client base.”
The Results
For digital marketplaces, the rising cost of online payments is a key challenge. Their objective was to drive cost reductions without impact on customer service or impact on their strong approval rates. To do that, the right partnership with future proofed SLA’s was important. By leveraging our unparalleled market visibility and data insights from the CMSPI Platform, our specialists helped the client’s team amplify their results and deliver seven-figure annual savings and ongoing insights to maximize payments performance.
After the successful completion of the audit and the RFP process, our team is now working with the client to identify further efficiencies and identify opportunities for incremental revenue growth.
After the successful completion of the audit and the RFP process, CMSPI is now working with the client to:
Provide data-driven initiatives to maximize performance across all payment types
Highlight opportunities to drive incremental revenue growth
Continuously look for opportunities to deliver impactful cost efficiencies