New Research Reveals Untapped Market for Mobile Banking Among Offline Consumers

Megan Comerford — Wed, 03 Mar 2010 09:32:45 -0500

Many institutions have implemented mobile banking merely as an extension of their online channel. In fact, customers must be enrolled in online banking before they can even gain access to the mobile channel. This approach overlooks an important segment of the banking public: The estimated 55 million non-online-banking households in the U.S. Results in this new research paper suggest that financial institutions should pay more attention to this non-online-banking consumer segment as a potential target audience for their mobile banking services.

Roadblocks and Opportunities for Companies Implementing a Global Telecom Expense Management (TEM) Solution

Thu, 25 Feb 2010 10:44:07 -0500

Containing the skyrocketing price of telecoms is an increasing area of focus. Increasingly organizations are implementing a TEM solution to reduce costs according to a 2008 Gartner report. Now, many organizations that have achieved this objective in the U.S. are examining ways to cut these costs in other regions where they operate. But managing these expenses in a global environment is very different.

Below MDSL CEO and cost management solution expert Ben Mendoza answers key questions for companies considering a global TEM solution. For 15 years, MDSL has been providing cost savings tools for managing telecom and market data expenses to organizations around the world. Over 90 percent of financial enterprises use MDSL products every day to contain spend, automate redundant business processes and optimize their investments.

Please describe three characteristics of a company that would benefit from a global TEM solution?

Multiple locations in various regions of the world.
Decentralized telecom/IT and finance functions with different managers.
Many global carrier vendors and providers.

What are important criteria and metrics organizations should consider when evaluating a global TEM provider?

1. Does the provider have experience forming global teams?

At MDSL, our service strategy from day one in 1995 when we first opened offices in the United Kingdom and New York and later Macau and Tokyo, has been to follow the sun. Teams come online as the business day begins in each region and take over support issues and projects from areas where the day is ending. Our clients have offices in Europe, Asia and throughout North and South America. In order to understand and address their needs quickly, we need to have knowledgeable people on the ground in each of these regions. We cannot supply our clients with the best people if we try to have our staff work three shifts from one time zone.

2. Is the TEM vendor able to manage projects across cultural and national boundaries?

A good TEM provider helps clients build consensus globally. Some cultures require extensive and time consuming relationship-building before decisions are made. Face-to-face interaction and an appreciation of differences in workplace customs are crucial in satisfying senior management expectations. In-house expertise in multicultural/multilingual environments, regulations and financial infrastructure that can vary from country to country is a specialty at MDSL.

3. Is the TEM solution available in different languages and can it process invoices in different formats from a multitude of providers while factoring daily exchange rates on multiple currencies?

In addition to the above criteria, our TEM solution matches user preferences with regard to default viewing currencies and geographic area; fiscal year per region and complies with regional tax and confidentiality rules all through our ASP hosting, which marries data from an organization's physical and financial structure.

What are some of the immediate benefits that a global TEM solution would deliver?

Cost savings and chargeback: The enterprise will control and eradicate 100% of vendor overcharges and accurately chargeback costs to the correct cost centers.
The ability to charge back and optimize their global MPLS/VoIP network.
Better management of worker's telecom and communications assets, especially when they travel or relocate from one country to another.
Global reporting and the ability to easily aggregate worldwide spend and usage information for negotiation with carriers.
Consistent application of a single global purchasing policy.
All in one reporting covering different cost centers, currencies and countries.
A view of global inventory and expenses that allows organizations greater flexibility in decisions regarding purchasing, exchanging/selling and budgeting.

What is Safe Harbor and is it required?

All American-based TEM providers should be Safe Harbor-certified in order to ensure that they are in compliance with EU Directive 95/46/EC which governs data privacy laws. Given that our head office is located in the UK, our organization is subject to comply with all legislation governing the EU. Nonetheless, we are currently seeking Safe Harbor certification from the US Department of Commerce and expect this to be completed by mid-2010.

For a demo of our products, or to learn more, please contact any one of our offices or e-mail webenquiries@mdsl.com.

Whitepaper: Four Advantages an Online International Payments Platform Gives Your Business

Rebecca Friend — Mon, 19 Oct 2009 11:17:47 -0400

The process of moving money from one currency to another and from one country to another has never been a more pivotal part of conducting business as it is now.
Download this whitepaper and learn how an online platform for foreign exchange can offer benefits to your business that will positively impact your bottom line and help you stay competitive in your marketplace.

Whitepaper - Foreign Exchange Risk Management: Protect Your Profits and Prosper in an Uncertain Economy

Rebecca Friend — Mon, 19 Oct 2009 11:13:59 -0400

Over the past few decades the growth and complexity of international business and multinational operations has increased at a staggering rate. The key to surviving and thriving amidst ever-changing market conditions and currency fluctuations is to hedge these foreign currency risks that affect your business. Download this whitepaper today to learn more.

Whitepapers

New Research Reveals Untapped Market for Mobile Banking Among Offline Consumers

Roadblocks and Opportunities for Companies Implementing a Global Telecom Expense Management (TEM) Solution

Whitepaper: Four Advantages an Online International Payments Platform Gives Your Business

Whitepaper - Foreign Exchange Risk Management: Protect Your Profits and Prosper in an Uncertain Economy