Fireside chat: Rethinking your payment strategy
By Andy TweddleDec 20201 min read
To coincide with our new Forrester report, Rethink Your Payment Strategy To Save Your Customers And Bottom Line, we invited our friends from the Guardian and Quandoo to sit down and chat with us about their payment challenges.
In a world of technology advancements, businesses are constantly evolving to serve their customers. Recurring revenue models, like subscriptions or consumption-based models have become key to this evolution.
Forrester surveyed 700 payment decision makers to evaluate the state of recurring payments across the globe, and found the B2B recurring payment landscape is becoming increasingly complex. This can result in lost customers, payment failures, high costs, and lower revenue impacting the wider business.
GoCardless Director of Product Marketing, Siamac Rezaeizadeh, was joined by GoCardless CFO, Catherine Birkett, The Guardian News & Media’s Amanda Michel, and Quandoo’s Diego Passarela, to discuss this topic further, dig into some of the most interesting statistics, and explore how it applies to their businesses.
Watch the full fireside chat:
Is it time to rethink your payment strategy?
As you’ll see in the Fireside chat, the Forrester study uncovered a number of startling statistics about recurring payment operations, including:
86% of businesses have more than 20 full-time employees (FTEs) to handle recurring payments.
4 out of 5 firms say that it takes them more than a month to receive payment.
Half of all businesses have a failure rate of higher than 7%.
Read the full report for all the insights, as well as recommendations on how to start overcoming your biggest payment challenges.
Read the full report below: