3 Point Alliance Releases Key Objectives for Easier Remittance Payment Outsourcing Beyond Cost-Containment
To mitigate risk, billers need best practices for choosing a payments partner whether switching vendors or outsourcing for the first time, according to a new white paper.
A white paper from 3 Point Alliance explores best practices that corporate treasurers, and IT or payment operations managers should employ when selecting a remittance payment provider to avoid common BPO-related pitfalls. Remittance payment outsourcing still remains one of the most important strategies for your payment processing company.
The white paper, “A 5-Step Guide to Easier Payment Outsourcing: Best Practices for Outsourcing Remittance Payment Processing”, examines five steps that can make outsourcing payments easier for companies faced with making this challenging decision.
While the business process outsourcing needs of companies vary, many believe that simply upgrading legacy equipment will reduce per unit costs. Billers operating in today’s tough economy need to gain insight into a wide range of BPO-related processes to stay competitive. Companies need to know how to better manage payments to optimize cash flow, implement the right processes to contain or reduce operating costs; and, increasingly, learn how to handle burdensome and costly regulations.
This paper presents ways companies can better identify their business case outsourcing need – from business requirement gathering to process validation and vendor contract management — that will make outsourcing payments a more well-defined and easier process.
“A top priority for anyone involved in the decision to outsource payments is to contain costs, but actually achieving that goal is challenging unless they leverage best practices and can work with a partner they trust,” says Norm Grunberg, co-president and co-founder of 3 Point Alliance.
3 Point’s Co-President and Co-Founder, Richard Daidone, adds, “We recommend that billers evolve their strategies to suit today’s market dynamics and implement best practices necessary to mitigate payment migration risk that will provide value to the organization beyond cost-cutting measures.”
To download a free copy of this paper, go to: http://www.3ptalliance.com/5-step-guide-to-easier-payment-outsourcing/