Nets, the largest provider of payment solutions in the Nordics, has implemented Stibo Systems Multidomain Master Data Management (MDM) solution. The company sought a comprehensive 360° view and analysis of its customer contracts, products and the geographical locations of its customers’ payment solutions throughout Europe. The integrated solution enables Nets to identify opportunities to upsell and improve customer retention.
“This is a significant investment because we believe the solution will give us transparency and new business opportunities,” said Jens Barnow, Senior Vice President, Group Architecture & Data, Nets.
The MDM solution provides a fine-grained overview that has had a very tangible and synergistic effect on its business: Built on the foundation of consolidated master data, Nets has developed new systems that predict which customers are considering a change of supplier.
“In this way, we have prevented losing 20 % of the customers that were about to leave us because we can proactively contact them. We are saving a considerable amount,” said Barnow. Furthermore, Nets has achieved significant cost savings through operational optimization by consolidating data warehouses that no longer need to be maintained individually.
The MDM solution brings together and connects data domains for customers, products and locations on one platform, providing Nets with data transparency, better reporting and analysis, and increased customer satisfaction. The solution was implemented in three months, ensuring quick time to value and return on investment. A crucial element of the frictionless implementation was the company’s reliance on Stibo Systems’ data management and system integration experience.
“There is just no way around getting a grip on your master data. This provides us with full transparency, better analysis, and it enables us to run the business much more efficiently,” said Barnow.