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Are you a SaaS start-up company that finds managing credit card payment failures a pick-and-shovel job? Are your attempts to reduce churn due to revenue loss failing high time?
Time flies! They say.
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The COVID-19 pandemic came as an acute adversity that flipped throughout life. Many businesses came to a standstill due to the restrictions of staying at home and keeping lives safe.
Customer expectations are changing rapidly, and what people learn to love in one industry increasingly defines what they expect in other industries as well. These ever-shifting expectations put pressure on businesses to meet their customers where they are – delivering their products faster, cheaper and more seamlessly than ever.
At any stage in a company's journey, revenue is a critical data point. It's a key performance indicator necessary for smart decision-making and keeping your business on track. But as your business grows, accounting often becomes a bigger headache.
For many businesses, tracking revenue is a complicated and labour-intensive chore. Factor in different scenarios such as subscription billing, upgrades, refunds and prorations, and the numbers become even more difficult to parse. And as accounting becomes more complex, it's also more prone to errors – which can add up to more time and expense.
What is it that unites ecommerce across size, industry, business model, and geography? The answer, unfortunately, is fraud.
"Do you think it's worth it?"- groans Bob tiredly. Joan replies as she sips her coffee; " You know, I have these doubts now if we really are doing it right!" Bob nods his head in agreement and states, "It's been 7 months of all 4 of us starting this start-up putting all that we have at stake, and it's just frustrating sometimes that we are not where we intended to be!"
THE MAJESTIC METHOD OF CROSS-BORDER TRANSACTION: