The case studies below show how others have benefitted from partnering with Lucrotec.
INDUSTRY: Automotive Components
CLIENT: Automotive Components
A global Supplier of systems and components for the automotive industry faced challenges optimizing its payments process supporting a large and diverse Supplier network. With products including rubber and plastic sealing, fuel and brake lines, fluid transfer hoses and anti-vibration systems, this US-based public company employs more than 30,00 people globally.
Leading Automotive Component Supplier Rolls with Lucrotec APeX™ to Drive Increased Cashback Revenue and Cut Payment Processing Costs
Suspecting that there were latent opportunities to optimize the Supplier payment process, the Client provided Lucrotec with historical payment data for a select group of Suppliers in order to complete a Lucrotec Supplier assessment. As the Client suspected, the Lucrotec assessment revealed that our intelligent payment platform, Lucrotec APeX could substantially increase cash back revenue and drive operational efficiencies with additional cost savings.
The Client went live with Lucrotec APeX. After processing thousands of transactions, the Client has been able to achieve significant bottom-line benefits along with other operational benefits including:
Supplier card acceptance rate greater than 50% - a dramatic increase over legacy payment results
The average card cashback percentage increased significantly
Cashback revenue has more than doubled compared to legacy payment results
Payment security has been optimized
The Client now has payment dashboards for payment visibility and awareness 24/7/365
Check writing costs have decreased due to increased card acceptance and Lucrotec APeX’s lower check writing cost