Credit Card Payments – Navigating the Minefield: How KraussMaffei Cut Card Processing Costs by 15% and Achieved PCI-DSS Compliance
HighRadius to Present an SAP® Case Study Webinar: The Olympic Feat – 15% Reduction in Credit Card Processing Fees
Houston, Texas – August 2016 – HighRadius will host a webinar featuring Krauss-Maffei Corporation, US division of KraussMaffei Group, the global leader in injection molding and reaction process machinery, and how they were able to seamlessly process credit card payments from multiple payment origination points within their SAP system including Sales Order creation and A/R Collections. The complimentary webinar will take place on Thursday, August 25, 2016, 1:00pm – 2:00pm Central Daylight Time.
Michele Roenker, Credit Manager & Project Manager for SAP Process Improvement at Krauss-Maffei Corporation and Jay Tchakarov, VP of Product Management at HighRadius, will explain how Krauss-Maffei Corporation was able to cut card processing charges by leveraging extended functionality in SAP and achieve PCI-DSS compliance without overhauling IT infrastructure or spending millions in licensing.
Krauss-Maffei Corporation had issues in achieving PCI-DSS compliance for its spares and services business. They used disparate 3rd party software and a paper-trail to capture payment card information and process authorizations and settlements. This process not only posed a significant security threat, but also resulted in high card processing costs.
To address these issues, Krauss-Maffei Corporation chose HighRadius Card Payments for SAP®, a PCI-DSS compliant, robust electronic payments solution for SAP applications that enables merchants to accept credit card and other payment types electronically with full integration into their SAP system. This cloud-based solution is deployed as Software-as-a-Service, and leverages modern technologies and processor tokenization services to maximize credit card security.
“By selecting a solution such as the HighRadius Card Payments for SAP, Krauss-Maffei Corporation was able to minimize risk and exert minimal effort and cost to achieve PCI-DSS compliance. The solution has a low footprint and uses native SAP components, which speeds up deployment while eliminating the need for additional hardware,” said Jay.
As a result, Krauss-Maffei Corporation was able to leverage extended SAP functionality to reduce credit card processing charges by processing every transaction at the lowest possible rate. The integrated solution helped to eliminate time and resources lost to 3rd party software to process credit card payments. Krauss-Maffei Corporation was also able to achieve PCI-DSS compliance at a fraction of the cost by off-loading compliance criteria to payment partners. Additionally, they were able to leverage built-in ERP and accounting system functionality to create safeguards for the cardholder data environment.
For more information or to register, click here.
HighRadius provides Financial Supply Chain Management (FSCM) software solutions to optimize receivables and payments functions such as credit, collections, cash application, deductions and eBilling. HighRadius Receivables Cloud and Payments Cloud solution suites are delivered as software-as-a-service (SaaS) in the cloud to automate the entire credit-to-cash cycle. HighRadius certified Accelerators for SAP receivables management enables large enterprises to achieve advanced business transformation initiatives and leverage their SAP investments with lower TCO. HighRadius solutions have a proven track record of reducing days sales outstanding (DSO), bad debt and increasing operation efficiency, enabling companies to achieve an ROI in a few months. For more information please visit www.highradius.com.
For More Information Contact: