{"id":49,"date":"2021-02-04T03:51:34","date_gmt":"2021-02-04T03:51:34","guid":{"rendered":"http:\/\/heliospayments.com\/blog\/?p=49"},"modified":"2021-02-04T03:55:54","modified_gmt":"2021-02-04T03:55:54","slug":"the-lean-process-streamline-your-payment-processing-and-increase-your-net-profits","status":"publish","type":"post","link":"https:\/\/heliospayments.com\/blog\/mid-management\/the-lean-process-streamline-your-payment-processing-and-increase-your-net-profits\/","title":{"rendered":"The LEAN Process – Streamline Your Payment Processing and Increase Your Net Profits"},"content":{"rendered":"\n

TLDR: Using the Six Sigma LEAN process on your payment processing system can help reduce cost and ensure the longevity and ROI of your merchant account.<\/span><\/em><\/p>\n\n\n\n

”Business as usual” is often used like the best\/normal\/desirable solution but can we improve this statement? Have you ever heard of the LEAN process? What does it mean and how can we apply it?<\/p>\n\n\n\n

Long Story Short<\/h5>\n\n\n\n

If you have heard about Toyota \u2013 then you know about the impact of the LEAN process. In the middle of the 20th century, this concept appeared in Toyota’s Production System. It is based on the philosophy of defining value from the PEOPLE, and I am referring for the customers and employees.<\/p>\n\n\n\n

LEAN = Purpose + Process + People<\/h5>\n\n\n\n

You can apply the LEAN process for every activity \u2013 for example when you are cooking at your home – look over the process and see if there are things that could be done faster, better, or if that are things that can be eliminated.<\/p>\n\n\n\n

The same principles apply to your payment processing system. Look at your workflow now, identify your steps, implement simplicity, eliminate activities that are not productive, make your payment process easy for the customer, and productive for your business. Regularly checking your processing activity, outsourcing your chargeback response and alerts to a reputable vendor, and reducing fraud with 3D Secure<\/a> should all be a part of your process. By following the LEAN process, you can build your payments system to withstand chargeback spikes, reduce loss from friendly fraud and ensure the longevity of your merchant account.<\/p>\n\n\n\n

From my point of view, LEAN process instruments that can be easily adapted to your process flow are :<\/p>\n\n\n\n