Since its inception, the marketplace has undergone numerous changes, including:
Heightened competition and consolidation of providers
Improvements in technology and platform capabilities
Increased outsourcing of customer service and technical support
Introduction of new message formats and protocols, including Internet-based options
However, not all providers have evolved to meet the demands of the 21st century and the needs of their customers. As a result, many experience issues on a daily basis that impact their bottom-line, including:
Aging technology and an outdated, inflexible platform
Unsatisfactory customer service and slow problem resolution
An unreliable network with too much downtime
Cumbersome on-boarding of new trading partners
Manual, time-intensive tracking of exception and costly errors
That’s why it’s important you consider more than just price when approached by a new VAN provider. You need to look beyond the hard costs to determine if the vendor provides the right transaction management capabilities to reduce errors, accelerate cycle times and improve cash flow.