Retail News South Africa

Pleasing customers, securing transactions: Having e-tail both ways

The ultimate goal of a risk management program is to enhance the customer experience to create repeat sales and enthusiastic word-of-mouth referrals.

To accomplish this, an effective program will take into account the company's business operating environment, customer expectations and operational business needs, and it will focus on the continual improvement of each of these evaluation criteria.

Online retailers today are facing what may seem to some as contradictory business challenges: delivering a superior online customer shopping experience and securing transaction information to protect customers and comply with regulatory mandates such as the Payment Card Industry Data Security Standard (PCI DSS) and data security breach laws.

To meet both challenges successfully, e-tailers must define a set of performance metrics to reflect the desired customer experience, security mandate compliance and corporate operational integrity. While this approach requires effort, it will pay off in higher customer sales, cleaner audit reports and better risk mitigation controls.

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