Payments Transformation is a very tough topic. Most companies tend to leave their technology stack as is because over time they have built fair amount of complexity and they do not know how that complexity would port to a new system or Integration. However to stay competitive you must consider a payments transformation. Payments has become too expensive that if you are not nimble the cost of accepting payments will eat into your profits quickly. There are three components to any successful transformation
- Analysis of Current state features and capabilities
- Design of Future state features and capabilities
- Gap Analysis & Impact Assessment between current and future state
Based on these three components you can then implements the solutions to address the gaps and ensure your new solution not only provides parity to your existing solution but also brings in the new desired features with minimal impact to applications and stakeholders.
When working with an Internal team or with a vendor ensure that you address these 3 components as a Roadmap for your success.
You can also contact info@swivelusa.com and one of our payments experts will be happy to provide a free consultation and lay out a roadmap of how we can transform your current payments solution.