Each year US consumers return $642.6 billion worth of goods and services, much of which is for credit balance refunds—overpayment, subscription cancellations, and the like. Yet many of these refunds are still being issued via inefficient processes that best business practices and consumers‘ modern lives outpaced long ago.
While the priorities of each industry and individual business may be unique, their refund strategies share common benefits including;
The refunds solution must therefore consider the business needs and goals, such as cutting costs, preventing fraud, reducing administrative burdens, and providing excellent customer service.
Regardless of the type of goal you have at the forefront, an integrated digital refund strategy can help you address these issues and turn them into an opportunity to rebuild a relationship with a good customer and extend your brand’s reach.
Download our newest white paper, 6 Key Insights to Developing a Seamless Refund Experience to learn about specific approaches, techniques and strategies for maximizing efficiency of your refund process.