Case Studies
Making Data Deliver Global Growth in the Fashion Industry
Our payments experts and the client partnered to harness the power of data to deliver Smarter Payments Intelligence.
Introduction
Our experts audited and optimized the clients global payments arrangements, and the partnership has now expanded to include continuous strategic services to support the corporation as it extends global reach.
Key Achievements
- Our specialists uncovered $5 million in additional savings
- Ongoing payments strategy support for market expansion
The Challenge
A multinational corporation known for its iconic sportswear, footwear, and equipment, partnered with our team to achieve their business goals of reducing costs and enhancing their international payments strategy.
After successfully achieving $12.5 million in cost reductions during our initial partnership, the client realized they faced yet another challenge: formulating an effective international payments strategy that delivered seamless customer experiences across current and new regions.
They needed specialist expertise, market and supply chain data, and cost benchmarks to guide their expansion plans into new markets to harmonize their global payments arrangements.
The Solution
Our experts implemented ongoing strategic services and has now become an extension of their payments team. This includes monthly audits and fee validations to uncover errors, discrepancies, and areas for optimization. When fee changes occur, we quantify their impact and develop effective strategies to mitigate them.
Furthermore, our experts analyzed market-specific considerations, providing valuable insights for informed decision-making and successful outcomes.
By leveraging the CMSPI data-lake, we delivered the client visibility, guidance, and a framework for success in new markets, facilitating streamlined global strategies and a consistent customer experience.
The Results
In the past year, our analysis and ongoing audits have uncovered $5 million in additional savings through optimization opportunities, on top of the $12.5 million we initially achieved.
By expanding the scope of work to include ongoing strategic services, the client has been able to not only maintain optimal payments costs, but also create a solid payments foundation in new markets that ensure they sustain a positive customer experience at the best cost.
The partnership with our specialists has allowed the client to stay ahead of industry changes, refine their payment processes, and make data-driven decisions to maximize their global payments strategy.