"Redbridge helped us benchmark our existing pricing grids and identified opportunities for optimisation. The heavy lifting (data collection, data cleansing and analysis) was all performed by Redbridge with minimal disruption to the Treasury teams."
- Cash Management and merchant cards fee analysis and optimisation for 25 countries in Europe, LATAM and APAC, involving 23 currencies and 10 providers
- Analyse Inchcape’s current banking and merchant card services and assess current cost.
- Benchmark Inchcape’s pricing and services against market rates in order to identify potential cost-saving opportunities.
- Conduct negotiations with banking and other providers while ensuring Inchcapes’ service level requirements.
- Visibility and renegotiations through an RFP process of bank and merchant card fees in the geographies in scope.
- In depth analysis of qualitative factors such as PCI compliance and security, POS terminals, technical requirements, etc.
- Assisted management decision making based on a clear understanding of the merchant card fee structure and drivers.
- Defined project scope (entities, countries, payment channels and existing providers), project governance, framework, objectives and constraints.
- Collected necessary data via meetings, calls, information files and questionnaires, covering the agreed scope of the project and Inchcape’s future requirements.
- Presented industry best practices and relevant benchmarks.
- Negotiated directly with relevant providers and identified areas for improvement, including realistic and achievable cost savings and strategies to leverage technology to increase efficiencies.
Value added by Redbridge
- Comprehensive global expertise on the payment ecosystem.
- Rigorous, proven and tailor-made data collection and analysis process.
- Unique industry price database and benchmarking capabilities.
- Customised negotiation strategies while safeguarding Inchcape’s relationships with relrevant providers.
- Implementation support.