How to Compete for $1 Trillion USD in Sales This Holiday Season: Minimize Transaction Failures and Operational Outages

 

Read the guide titled, “A Customizable Alerts Guide to INETCO Insight.”

With a projected $1 trillion USD in consumer spending this holiday season, competition for retail sales has never been fiercer. Major retailers such as Walmart and Target are going head to head with Amazon in the e-commerce space, offering a wider variety of digital platforms for consumers to choose from.

In addition to alternative channel expansion, retailers continue to offer strategic promotions on popular items to attract customers within their bricks and mortar environments. While providing an omni-channel experience and steep discounts may seem like a great strategy to help meet sales targets, it can often lead to high levels of unexpected traffic and system complexities that organizations are not prepared for.

Increased levels of customer transactions and cross-channel interactions are making it harder to consistently collect information in one centralized location. Furthermore, if analysis of this data takes days, or even weeks, organizations will lack the required level of responsiveness when it comes to building lasting customer relationships, dealing with fraud or managing operational performance issues.

High levels of transactions and increased complexities of alternate channels can be problematic even for the big players like Amazon. The good news is real-time transaction level monitoring and analytics software can help mitigate the potential for unexpected fallbacks, fraud and transaction failures with the use of customized, real-time alerts.

Customized real-time alerts are essential to reducing false positives, and running an efficient and seamless omni-channel operation. While network, application and host issues can hamper the performance of any organization, configurable real-time alerts can identify the issues as they happen, leading to proactive resolution, reduced downtime and increased transaction completion rates.

Figure 1– An example of how customizable alerts can notify operational teams of E-commerce transaction failures. Red highlighted area indicates that the root cause of the transaction failure is due to a customer input error.

 

Furthermore, real-time transaction level monitoring software can help streamline your ability to isolate the root cause of issues affecting consumers – enabling you to free up your resources to focus on other revenue generating services.

A guide that was recently released by INETCO outlines how organizational teams, such as IT, Retail & POS Channel Systems, Fraud & Security, and Switch Operations teams use real-time alerts. This guide outlines the top customizable alerts that retailers, financial institutions and payment processors can use to:

  • Boost financial performance across all channels
  • Improve end-to-end customer experience
  • Minimize fraud risks

When you have a moment, download the INETCO Alerts Guide to explore the customizable, real-time alerting capabilities organizations need to move faster and more proactively than ever. If you have any questions, you can always reach out to us directly at marketingteam@inetco.com. Thanks, and happy shopping!

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