The case studies below show how others have benefitted from partnering with Lucrotec.
INDUSTRY: Print Media
CLIENT: National Print Media
A nationally known, and publicly traded, media publishing giant engaged Lucrotec’s intelligent Supplier payment platform, Lucrotec Surity, to improve organizational profitability and operational efficiencies associated with a dozen national and local newspaper publications.
National Media Publishing Giant Reports Improved Payment Revenue and Reduced Payments Processing Costs with Lucrotec Surity™
In a time when print media is continually challenged by expanding electronic news sources, media publishing companies continue to face mounting financial challenges. This fact, coupled with the Client’s legacy payments processing, led the Client to perform a Lucrotec Supplier assessment in order to evaluate how Lucrotec Surity could benefit the Client.
After evaluating the publishing company’s historical Supplier payment data, Lucrotec determined that the Client had opportunities to expand cashback revenue. Specifically, the assessment identified opportunities to increase the number of vendors paid by card programs, and that Lucrotec Surity could deliver increased card rebate percentages.
Leveraging the Supplier information provided by the Client during the assessment process, Lucrotec Surity confirmed each Supplier’s preferred payment method and credentials.
As predicted, the implementation resulted in Supplier card acceptance rates exceeding 50%. In addition, card payment percentages exceeded those previous experienced by the Client. In combination, these improvements created significant increases in recurring monthly revenue from card cashback programs. In total, once live with Lucrotec Surity, the Client benefited with:
Increased monthly recurring card program revenue
Reduced check writing costs
Lower ACH and wire costs
Optimized payment security
Improved payment processing
Increased payment accuracy
Expanded payment reporting and awareness