forecourttech April 19

forecourttech
CIO CHECKLIST
1.How quickly can you support requests
from business?
Normally, a new product feature should be a matter
of configuration, not a heavy customization exercise.
And your team should be able to do this without
vendor involvement. Sometimes new functionality can
be a challenge if the current system was tailor-made
for your company. You cannot always benefit from developments
made for other users. So, a standardized
off-the-shelf solution could be the answer.
3. Do you have enough control over
your system?
In-house vs. outsourced operations? There is no right
answer here. An in-house system means agility and
full control over your business, which comes together
with significant investment in the team and infrastructure.
On the other hand, outsourcing card operations
means almost no levers of influence on the product
roadmap and service stability. A good alternative
can be to run your system in the cloud, thus cutting
infrastructure costs while still retaining control over
the product.
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2. Calculate how much money you
spend on payment systems integration
Maybe it is high time to optimize the architecture to
remove redundancy and complexity. For example,
some of our customers manage card issuing, acquiring,
and transaction switching for several countries
on a single platform. This centralization delivers
maintenance and vendor management savings. If you
migrate data from legacy systems, the new system
should be able to accommodate customer data, so
that unification does not cause a loss of valuable
information.
Summary
Assessing your card payment systems is not an
exercise to be undertaken daily or even monthly.
But some factors, such as a business expansion
strategy targeting new geographies or customer
segments can trigger the change and open new
doors.
To consult our experts or learn how the fuel
companies drive a better customer experience
on WAY4, the leading digital payments platform,
visit our website.
OpenWay Group is a global developer of WAY4, the top-ranked open digital payment software
platform covering card issuing, acquiring, switching, digital channels, mobile wallet, loyalty, and
fleet cards. WAY4 is the choice for fuel companies looking for revenue-generating,
cost-efficient, real-time payment processing. It offers product and service flexibility, dynamic
pricing, event-driven architecture, innovation, scalability, and high performance.
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