Profit in Precision: Data-as-a-Service Strategies for Issuers

Profit in Precision: Data-as-a-Service Strategies for Issuers

Time Stamp: February 7, 2024 7:21 AM
Profit in Precision: Data-as-a-Service Strategies for Issuers PlatoBlockchain Data Intelligence. Vertical Search. Ai.

Issuers are urged to chart a course through the digital transformation
strategically. The shift toward a tech- and data-driven business model is
irreversible, demanding a nuanced approach that eschews hasty overhauls. As such, it becomes important to explore and understand the key considerations for leaders who wish to embrace the new
fundamentals while maintaining a competitive edge.

The transition to a tech- and data-driven issuing model is not merely a
trend but a profound shift that has redefined the very fabric of financial
services.

Issuers are at a crossroads where embracing this change is not just
an option but a strategic imperative for future success. Rather than succumbing
to the pressure of radical transformations, leaders are advised to adopt a
thoughtful, phased approach. As such, this involves the acquisition of specific
capabilities that promise not just adaptation but a swift and sustainable
competitive advantage.

Moreover, as highlighted in a BCG report, multichannel orchestration, embedded finance, and data-as-a-service have emerged as the linchpins of this strategic journey. Each pillar requires
meticulous attention and tailored investments in technology and data.

Diversifying Portfolios for B2B Success

Amidst the burgeoning B2B payments market, traditional issuers have the
opportunity to carve out their niche. The strategic diversification of product
portfolios is crucial for success in a landscape where non-traditional players
are recognizing the potential, as demonstrated by recent industry moves.

Traditional issuers must strategically diversify their
product portfolios to stay ahead of the curve. Success in this realm hinges on
developing robust offerings that cater to both buyer- and supplier-initiated
flows. Moreover, these offerings must accommodate a diverse array of payment
methods, including virtual cards, and ACH payments,.

Integration into procurement and enterprise resource planning
platforms is no longer optional—it is a business imperative. Collaborative
initiatives with procurement platforms through co-investment avenues offer a
seamless integration strategy into the procurement ecosystem. Furthermore,
securing a dedicated marketing budget becomes pivotal for creating channel
awareness, and building sales and technical capacity is indispensable for
supporting product onboarding into these platforms.

From Integration to Innovation

As the landscape of corporate payments undergoes a significant
transformation, integration into procurement and enterprise resource planning
platforms is non-negotiable. Moreover, securing a dedicated marketing budget is no longer a luxury but a
necessity in this competitive landscape.

Creating channel awareness is the
first step towards establishing a foothold in the market, and a
well-thought-out marketing strategy is the key to achieving this. Building
sales and technical capacity is equally crucial, ensuring that issuers not only
onboard products into platforms seamlessly but also provide the necessary
support to clients.

Issuers are urged to chart a course through the digital transformation
strategically. The shift toward a tech- and data-driven business model is
irreversible, demanding a nuanced approach that eschews hasty overhauls. As such, it becomes important to explore and understand the key considerations for leaders who wish to embrace the new
fundamentals while maintaining a competitive edge.

The transition to a tech- and data-driven issuing model is not merely a
trend but a profound shift that has redefined the very fabric of financial
services.

Issuers are at a crossroads where embracing this change is not just
an option but a strategic imperative for future success. Rather than succumbing
to the pressure of radical transformations, leaders are advised to adopt a
thoughtful, phased approach. As such, this involves the acquisition of specific
capabilities that promise not just adaptation but a swift and sustainable
competitive advantage.

Moreover, as highlighted in a BCG report, multichannel orchestration, embedded finance, and data-as-a-service have emerged as the linchpins of this strategic journey. Each pillar requires
meticulous attention and tailored investments in technology and data.

Diversifying Portfolios for B2B Success

Amidst the burgeoning B2B payments market, traditional issuers have the
opportunity to carve out their niche. The strategic diversification of product
portfolios is crucial for success in a landscape where non-traditional players
are recognizing the potential, as demonstrated by recent industry moves.

Traditional issuers must strategically diversify their
product portfolios to stay ahead of the curve. Success in this realm hinges on
developing robust offerings that cater to both buyer- and supplier-initiated
flows. Moreover, these offerings must accommodate a diverse array of payment
methods, including virtual cards, and ACH payments,.

Integration into procurement and enterprise resource planning
platforms is no longer optional—it is a business imperative. Collaborative
initiatives with procurement platforms through co-investment avenues offer a
seamless integration strategy into the procurement ecosystem. Furthermore,
securing a dedicated marketing budget becomes pivotal for creating channel
awareness, and building sales and technical capacity is indispensable for
supporting product onboarding into these platforms.

From Integration to Innovation

As the landscape of corporate payments undergoes a significant
transformation, integration into procurement and enterprise resource planning
platforms is non-negotiable. Moreover, securing a dedicated marketing budget is no longer a luxury but a
necessity in this competitive landscape.

Creating channel awareness is the
first step towards establishing a foothold in the market, and a
well-thought-out marketing strategy is the key to achieving this. Building
sales and technical capacity is equally crucial, ensuring that issuers not only
onboard products into platforms seamlessly but also provide the necessary
support to clients.

Time Stamp:

More from Finance Magnates