Online Fraud Screening is probably consider by many eCommerce manager as a lost of time and money...
"My company can face a fraud from time to time, it's not a problem for us.", I have heard this sentence one from a customer that was not even able to tell me how much Online Fraud costs to his company last year. When I talk to the Financial Director, he told me that the fraud was about 30,000 Euro. So I came back to the eShop manager to ask him if he could afford to loos 30,000 Euro every year on logistic? He told me certainly not. When he discover that he was already loosing that money on a "hidden kind of" logistic, he was ready to talk about fraud screening.
This customer was not using a very complex system, just an hosted eShop with a third party payment provider with online fraud screening embedded.
The first step was for me to check what he was doing with the info provided by his Payment provider and if it was enough to consider to be protected in term of fraud.
Step 2 was to create with him a very simple way to categorize all the orders from reliable to risky.
Step 3 was to select some tool to be used to qualify the fraud. (one of them was simply using the white page to check the customer address, another one was to send an email to confirm so detail of the order, etc.) Like you see here, none of these tools cost to my customer an additional budget but was useful enough to find out some anomalies in the orders.
Step 4 was to archive all the order to be use as statistics for the future.
Step 5 was to ALWAYS complain to authorities when a fraud is detected.
From that moment my customer reduces his exposure to fraud from 30,000 Euro to less that 1,000 Euro. Fraud screening is a Methodology not a score that you trust... It's a soft paranoia that will save you from loosing money (charge back) & products.
A good VoIP provider will offer additional benefits as well, but many first-time buyers find assessing each option to be difficult. Nevertheless, this is an important step in the buying process because a substandard provider can easily waste both your time and money. more
While this may have been true at one time, the days of BI requiring a dedicated team of experts to implement are over. Self-service solutions are making it possible for everyone, including small, local businesses, to easily implement BI in their decision making process. more
A contact center often brings about a prospect’s first real-time interaction with your company. As such, if it’s not a positive one, they’ll likely look elsewhere for help. With 69% of Americans more inclined to recommend a company to friends and family after a positive customer service experience, you’ll need to exceed expectations on the following fronts. more