In the first two blogs of this three-part series, we identified eight ecommerce technologies to grow your business and explained the ecommerce fulfillment process. In this third and final blog, we reveal how to simplify back office complexities with a single seamless integration.
How to simplify your ecommerce back office
When you look at everything that needs to go right for your ecommerce site, the biggest challenges for brands is often localizing the checkout experience and staying on top of global tax and regulatory requirements. These ecommerce operations can make or break your business.
If you’re thinking about scaling your existing operations amidst global expansion, it is important to understand the time and capital investment required to establish a legal entity, register with tax authorities, and hire new talent, all of which can delay your time to revenue considerably. Due to the complexities involved, even the biggest companies partner with an expert for this work. By letting specialists manage that complexity on your behalf, you can relieve your finance team of new burdens and truly focus on your company’s core competencies.
A single ecommerce integration for payments and back office operations
Ecommerce operations managers are always looking for ways to control the number of technologies and vendors, lower operational costs, and improve back office efficiencies – all while optimizing revenue. What many successful global brands have discovered is that they can replace anywhere from three to 10 different ecommerce technologies and vendors with a single ecommerce API integration by partnering with Digital River.
In addition to providing a leading payments solution, Digital River provides value-added services by acting as the merchant and seller of record for your online store allowing us to shoulder the risk and complexity of global taxes and regulatory compliance.
With one integration, Digital River provides a powerful global solution for:
- Online payments
- Ecommerce fraud prevention
- Tax management
- Regulatory compliance
- Financial reconciliation
Clients of Digital River – many of them leading software and consumer electronic brands – see a dramatic increase in back office efficiencies, often reducing operational costs by 20-30%. As your ecommerce partner, we help you tie together your front-end experiences with back office efficiency while providing global scale to accelerate your time to new markets.
Digital River has pre-built integrations into Magento and Salesforce ecommerce platforms and offers self-service developer tools for easy integration into your online store’s checkout experience. Implementing Digital River localizes your store’s checkout with the appropriate currency and payment preferences needed to deliver great customer experiences and optimize revenue. When your customer submits their order, Digital River uses a flash title to momentarily assume seller responsibilities. As the seller, we perform fraud screening and comply with trade laws, PCI standards, and other requirements. Our webhooks provide a multitude of events that can be leveraged to inform your ecommerce platform, OMS, CMS, and ERP in addition to supporting the customer journey through messaging and notification.
Optimize your ecommerce revenue
Digital River is uniquely qualified to grow your ecommerce revenue by enhancing your store with a localized checkout experience, optimized payment processing, and a global team of experts to manage complex tax and regulatory requirements on your behalf. Our payment gateway comes with pre-built integrations into 26 local acquiring banks and partnerships with five of the industry’s top payment providers to maximize your success. Those local connections combined offer the industry’s most powerful global payment solutions.
With Digital River, you gain extensive global card types, alternative payment methods, and unparalleled localization capabilities. What truly sets Digital River apart from pure payment providers is our merchant and seller of record business model where we leverage our nine legal entities around the world to help you be local in global markets. Those local legal entities are important because you cannot process payments locally without them. Many payment providers advertise their ability to do local processing, but that is only true if you have a legal entity in the region. For many businesses, the time and expense to establish that entity is not worth the delayed time to revenue.
Another important reason to process payments locally is customer service. When selling cross-border (i.e., money is sent to a foreign bank account instead of a local bank in the region), two poor experiences can occur. Customer payments are often declined because cross-border transactions are foreign and often flagged for fraud. The other occurs when a cross-border transaction is accepted and the customer receives an unexpected foreign transaction fee on their statement. Both experiences have negative effects on the customer experience, your brand’s image and revenue potential. The answer to fixing this is to process payments locally. You can learn more in our cross-border versus local processing video.
Go global, act local
This ability to act and transact locally is what we call The Onshore Advantage™ because it gives you a leg up on your competitors who are getting lower success rates from cross-border processing. On average, Digital River clients see the following results:
- 8-15% revenue growth
- 20-30% reduction in costs
- 6 weeks deployment to new markets
Integrating your existing ecommerce and supply chain solutions with Digital River gives you access to:
- 4 payment gateways
- 26 local acquirer integrations
- 9 local business entities
- 120+ payment methods
- 46 transactable currencies
- 25+ preferred fulfillment partners
- Fraud prevention technology and manual reviews
- Tax calculation, collection, filing, remittance, and audit defense
- Global regulatory compliance
- Financial reconciliation and reporting
- Repatriation of funds / currency conversion
Want to simply your ecommerce operations, increase revenue, and minimize risk?