Optimising the digital customer journey

[This interview with Jeroen van Dijk and Ron de Bos was published in Online Retailer no 34, September 2019. This is the English translation of the article]

Optimising the digital customer journey
Jeroen van Dijk and Ron de Bos of Connective Payments are experts in the field of payment transactions. They use their knowledge and experience with various customers, such as (online) retailers, banks, scheme owners such as MasterCard and Visa, acquirers and Payment Service Providers (PSPs). The Payments ecosystem is highly regulated and all those laws and regulations are constantly changing. The Connective Payments consultants often experience that the customer perspective gets snowed under: for example with PSPs striving for compliance and “operational excellence”, but forgetting to include their customers, the retailers, in the process. Jeroen van Dijk: “Ultimately, the customer journey of the retailer is crucial. For a PSP, what are the benefits of a compliant and cost-efficient process flow if your customer, the retailer, is stuck with cumbersome process steps?” Ron de Bos adds: “To ensure that the customer remains the central focus point, we have developed a unique model, the DCLM model.

DCLM model
Connective Payments uses the so-called DCLM model to optimise the digital customer journey. DCLM stands for Digital Customer Lifecycle Management. Jeroen van Dijk: “The model focuses on three disciplines: the sales process (identifying, qualifying and approaching customers), on-boarding the customer (collecting data to prepare customers for the payment process) and service management. We link these three elements to each other with our model. The service provision itself can possibly be further optimised with the process flows that are supported by the DCLM model.”
“As a matter of fact, we can step in and assist PSPs at any given moment. For example if the company only wants to optimise the sales to on-boarding trajectory or just the service management trajectory”, Ron de Bos explains. “The model originated from our own experiences with customers and brings operational excellence and customer experience together. Precisely by always thinking from the customer’s perspective and proposition instead of the problem at hand,” Ron emphasises again. “Creating value for our B2B customers and demonstrably leaving them behind better, is our trademark” says Jeroen van Dijk of Connective Payments. “And always in close collaboration with our client, so that he or she can seamlessly leverage the value that we have provided” Ron adds. “The last thing we want is to create an unhealthy dependency. In that respect we think we have a unique proposition, compared to other consultancy firms in the Payments market. We help our clients to make a transformation so that they are able to grow independently.

Value creation
Ron de Bos expresses the benefits of Connective Payments’ strategic approach in optimising PSP services to their customers in practical facts and figures. “The smoother and faster the boarding process, the more satisfied the customer, the better the returns for both parties. For PSPs, that percentage can be as high as 15%. The smooth, digitised boarding process also leads to a reduction in boarding time of up to 95%. Smart ways to collect documents and validate data based on internal and external data sources play an important role. “Operational excellence” versus “customer experience” is also reflected in a 20% reduction in fixed costs to be able to provide the same services (or even better ones). Many PSPs have set up a complete department to identify customers and determine risk profiles. These processes are largely automated by the DCLM model, although always with the option of a “human touch”. The result of all this: the operational costs for supporting a compliant environment can be reduced to as much as 50% of what they are today.” Jeroen van Dijk summarises: “In short, from our experience we know that there are vast opportunities for smart digitisation of processes with the end user in a central role”.

Want to know where you stand as a PSP? Connective Payments is happy to perform a “quick scan”. Ron de Bos: “This is a scan in which we determine a PSP’s maturity in terms of “customer experience” and “operational excellence”, based on five categories. It also provides insight into how they rig their operational processes: from an “inside-out look” or from an “outside-in” perspective. We never work from an ivory tower, we always work closely with our customers. Depending on the situation, we can use the DCLM model, but also customer journey management techniques, for example. We feel responsible for the result, not just for the advice. We are only satisfied if the PSP meets new legislation and regulations and is at the same time able to serve its customers even better.”

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