Product & Service Selection
Running a formal process, such as a Request for Information (RFI) or Request for Proposal (RFP), to select a product or service is a key component of enabling an organization’s business strategy. Ensuring the appropriate suppliers are selected and utilized to their fullest potential is a critical step in strategic sourcing and facilitating delivery of objectives and goals while delivering exceptional customer value and maximizing Return on Investment (ROI).
Facilitating an impartial selection process requires evaluation of current and future state requirements along with end goals, issues to address, transition requirements and overall evaluation regarding suitable strategic partnerships. W. Capra’s selection methodology provides a structured process for evaluating an organization’s requirements and goals and identifying the optimal partner to facilitate the defined strategic goals. W. Capra has relationships and an understanding of available products in the industry and can assist merchants to select, contract, plan for transition and maintain valuable relationships with vendors.
- When Should a Merchant Be Merchant of Record?The biggest benefit to becoming the Merchant of Record is the opportunity to optimize payment operations and standardize the customer experience. As technology has evolved, so has the need to optimize transaction flows across channels of commerce, control costs, and improve resiliency.
- How does Artificial Intelligence fit into my business? Even without a full-blown AI usage program, giving employees clear direction on where and how AI can be used within your company is crucial. Concerns about consumer privacy, business trade secrets, non-disclosure agreements, the use of copyrighted information, and even the accuracy of ChatGPT’s output need to be addressed in this guidance, or else employees may opt to make their own choices about use of these tools in the workplace.
- Which is Better: A Global or a Local Operating Model? Hint – It Depends on YouA global approach can give you consistency and standardization. Beyond the cost savings and potential negotiation power that a common global architecture can introduce, a global operating model gives businesses the power to ensure consistent branding and quality assurance, regardless of geography.