Using Operational Planning and Benchmarking to Your Advantage
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Transcript of Using Operational Planning and Benchmarking to Your Advantage
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Operational Planning and Benchmarking – Merchant PanelPanel ModeratorTom ByrnesChief Marketing OfficerVesta Corporation
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Meet the PanelOperational Benchmarking: Using Benchmarking Data to Your Advantage
Mike JagusiakFraud Prevention Manager
Jonathan BakerSr. Manager, Multichannel Investigations
Adam ReinhardtData Scientist
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Benchmark surveys and how they can help youHow benchmark studies can optimize your operationsComparing your KPIs to industry benchmark data Using benchmark data to influence strategy and improve operations
We’ll Cover…
The critical role of methodology
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Benchmark BasicsTraditional sources• Industry trade groups
– Survey membership to establish comparisons and success over time
• Industry vendors and government agencies– Showcase solutions; bring attention
to key issues and emerging trends– Data typically collected by polls or
surveys• Can be quantitative, qualitative or
blended
The power of benchmarks• Enables companies to
analyze market shifts, consumer demands, and industry trends over time• Gauge business processes
against those of peers/competitors• Determine customer pain
points• Measure the efficacy of fraud
technologies and systems
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Benchmarking Benefits• Ties business decisions to industry trends and
innovation• Reveals potential opportunities and competitive
advantages (new tools, methods, insights, etc.)• Provides reasoning and justification for budget
planning, hiring, and expansion• Helps define strategic goals and operational objectives • Delivers visibility to competitor performance levels and
best practices
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Benchmarking for Critical KPIs
%chargebacks
$opexXdeclines manual
reviews
conversions
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For researchers• All studies do not collect the
same information in the same way
• All studies do not define or categorize information in the same way
• Requires many questions and qualifiers to derive key data points
Benchmarking: The Hidden ChallengesFor merchants• Data density: Too much
information can be difficult to compare and interpret• General industry information
may not provide an apples-to-apples comparison • Business models vary widely
between vertical markets
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FRAUD/CHARGEBACK
MGMT AS % OF OPERATIONAL
BUDGET
PERSONNEL COSTS
AS % OF OPERATIONAL
BUDGET
ADMIN/TECHNOLOGY
COSTS AS % OF OPERATIONAL
BUDGET
# STAFF DEDICATED TO
FRAUD/CHARGEBACK
MANAGEMENTSEGMENT
14% 36% 32% 9PHYSICAL
20% 41% 33% 41DIGITAL
13% 36% 34% 22HYBRID
Example: Relevance is King
Source: Javelin Merchant Research Study
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Merchant Perspective 1
Benchmark Experience• Risk profile• Important KPIs• Comparisons that make sense• Comparisons that do not make
sense• Differences in methods of
calculations• Differences in business models• Differences in operational
structures
Company Profile• Family of specialty
technology retail brands
• Global reach: Over 7,000 stores in 14 countries
• Payment methods accepted: Credit card, cash, NFC, PayPal, mobile wallets
• Types of goods sold: Video gaming, cellular phones/ services, digital goods/ currency
Jonathan BakerSr. Manager, Multichannel Investigations
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Merchant Perspective 2
Mike JagusiakFraud Prevention Manager
Benchmark Experience• Risk profile• Important KPIs• Comparisons that make sense• Comparisons that do not make
sense• Differences in methods of
calculations• Differences in business models• Differences in operational
structures
Company Profile• B2B and B2C• Global reach: 50+
countries• Payment methods
accepted: Credit card, PayPal, Net terms
• Types of goods sold: Event tickets
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Merchant Perspective 3
Benchmark Experience• Risk profile• Important KPIs• Comparisons that make sense• Comparisons that do not make
sense• Differences in methods of
calculations• Differences in business models• Differences in operational
structures
Company Profile• B2B & B2C• Global reach: 200
markets• Payment methods
accepted: Credit card, PayPal, SEPA, ACH, iDeal, Alipay, Bitcoin, gift card
• Types of goods sold: Physical, digital, subscriptions
Adam ReinhardtData Scientist
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Panel Q & A
Operational Planning and Benchmarking
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• Provides tools to compare your operation• Delivers intelligence to review performance, set goals and objectives• Can help develop strategic framework and critical operational processes/goals• Offers ability to track progress over time
A FORWARD-LOOKING BENCHMARK STRATEGY ALLOWS MERCHANTS TO STAY TRUE TO COURSE AND AVOID COSTLY MISTAKES.
Benchmark Data: The Return on Investment
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Questions
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Thank youTom ByrnesChief Marketing OfficerVesta Corporation
www.trustvesta.com