CyberSource Proposes New Solution to Old Online Headache - Manual Reconciling Orders, Payments, Chargebacks
Automated solution can reduce manual intervention up to 90%
MOUNTAIN VIEW, Calif., August 12, 2002
CyberSource Corporation (NASDAQ: CYBS) today announced its answer to a problem that continues to plague online commerce merchants-the manual processing required to reconcile orders with receipts and to manage chargebacks and rejected payment requests. The customized offering, called CyberSource Reconciliation Solution, is designed to eliminate up to 90% of the manual processes typically required today.
"Our customers want to keep growing their online sales but they also want to reduce the expense of manual processing," said David Glaser, director of professional services. "CyberSource Reconciliation Solution achieves that seeming contradiction. This is a best practices solution that enables merchants to avoid many of the pains associated with growing a business, and to take what was once an administrative headache and turn it into a streamlined, automated procedure. We believe merchants who use this will quickly see reduced manual intervention and increased revenue capture."
How it works
Reconciliation Solution compares order data recorded by the merchant with payment activity data automatically downloaded from the merchant`s payment processor. It takes automated action to resolve discrepancies and chargebacks, based on business rules established by the merchant. It generates exception reports to enable targeted, efficient staff action. An administration interface provides consolidated access to reports, case status and administration, and all associated order information.
Benefits of automation
Increased revenue capture. Merchants can identify opportunities to capture revenue that would otherwise be held up in reconciliation disputes.
Decreased cost of sales. Minimizing the resources required to manually reconcile orders means companies reduce overhead.
Timely identification of order problems. Order and fraud management issues can be solved more quickly, reducing their impact on the bottom line.
Customer satisfaction. Reconciliation Solution allows merchants to identify payment discrepancies before they become customer satisfaction issues.
Availability
The CyberSource Reconciliation Solution is a customized solution and requires installation by the CyberSource Professional Services group, with optional support available. For a full description, visit www.cybersource.com/reconciliation/.
About CyberSource
CyberSource Corporation is a leading provider of electronic payment and risk management solutions. CyberSource solutions enable electronic payment processing for Web, call center/IVR, and POS environments and manage transaction risk associated with card-not-present transactions. CyberSource Professional Services designs, integrates, and optimizes enterprise-wide commerce transaction systems. Approximately 3,000 businesses use CyberSource solutions, including over half of the Dow Jones Industrial companies. The company is headquartered in Mountain View, California, and has sales and service offices in Japan, the United Kingdom, and other locations in the United States. For more information, please visit CyberSource`s web site at www.cybersource.com or email info@cybersource.com.
Editorial Contacts:
Bruce Frymire
CyberSource Corporation
650.965.6042
bfrymire@cybersource.com
Cynthia Randall
atomic pr
415.703.9454
cynthia@atomicpr.com
© 2003 CyberSource Corporation. All rights reserved. CyberSource is a registered trademark in the U.S. and other countries. CyberSource eCommerce Transaction Suite is a service mark of CyberSource Corporation. All other brands and product names are trademarks or registered trademarks of their respective companies.
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