The case studies below show how others have benefitted from partnering with Lucrotec.
CLIENT: National Retailer
One of the top-ten retailers in the United States, and a component of the S&P 500 Index. The Client operates more than 1,500 retail stores and is ranked in the top 50 of the 2018 Fortune 500. This Client is one of the United States’ largest corporations by total revenue.
Nationwide Retailer Sold on Lucrotec Surity™ to Increase Revenue and Streamline Supplier Payments Process.
The Client engaged with Lucrotec to maximize cashback revenue and reduce payment processing costs, while optimizing payment security throughout the entire payment process.
Lucrotec performed a Supplier assessment on payment data for a sub-set of vendors representing more than $80 million in annual Supplier expenses. The assessment determined that Lucrotec’s intelligent payment platform, Lucrotec Surity, could substantially increase the Client’s cashback revenue and reduce payment processing costs for the Client’s Supplier payments.
Following the assessment, the Client went live with Lucrotec Surity delivering results that matched or exceeded assessment expectations; these included:
Lucrotec Surity’s Supplier friendly process resulted in a Supplier card acceptance rate greater than 50% — a dramatic increase over legacy payment results
Cashback monthly recurring revenue that significantly exceeded pre-Lucrotec results
Check writing costs have dramatically decreased due to significantly increased card acceptance
Lucrotec Surity’s payment portal increased the Client’s payment visibility, awareness, and understanding
Lucrotec Surity’s automated reconciliation reporting reduced reconciliation processing time