As organisations scale, conventional wisdom states that there are two fundamental forces acting on their balance sheets, pulling in opposite directions. On one hand, the cost of goods drops as the economies of scale kick in. On the other hand, with scale, each function begins to witness a drop in efficiencies. Modern technology-based companies, from their inception, have a heavy focus on unit economics. One of the key factors that determines the ‘scalability’ of an organisation is a prediction of how much functional efficiencies will decline as the volumes rise. Organizations are on a never- ending quest to minimise, if not eliminate, this decline in efficiency. Still, with all the big data and analytical tools involved, the task is far from straightforward.
It is in solving these difficult problems where technology such as Mastercard Send truly shines. Created with an eye on the bigger picture, it allows ease of operation and integration, bringing value to a host of different departments.
For example when an e commerce platform decides to deploy the Send platform to process customer refunds, the transactions, which would traditionally take five to seven working days, can be processed instantaneously. The accounting and operations department sees instant benefit as the automation dramatically decreases the resources required to process refunds. The customer care department sees a distinct drop in customer grievances that have to be addressed regarding the status of refunds. Moreover, there is instant gratification and customer delight due to the remittance being credited to the customers in real time. For the technology department, the simple API-based offering is extremely versatile, and integration with the existing stack and architecture is painless. A variety of different functions are impacted positively with one simple deployment.
It is this value that the Send platform creates across multiple departments in the organisation that has made it an irreplaceable tool for its partners across the country. Large banks, fintech companies, financial services, e-commerce, or any other organisations, which have integrated the Send platform into their offering, all of them have one thing in common— they can attest to the all round value that the Send platform brings to a spectrum of stakeholders involved. The value it provides is truly holistic in every sense.
Click here to find out how the Send platform can benefit your business.