AWS Big Data Blog
Chargeback Gurus empowers eCommerce merchants with advanced chargeback intelligence to recover millions using Amazon QuickSight
This is a guest post by Suresh Dakshina and Damodharan Sampathkumar from Chargeback Gurus.
Chargeback Gurus, a global financial technology company helps businesses fight, prevent, and win chargebacks. To date, we have helped businesses worldwide recover over $2 billion in lost revenue. As trusted advisors to card networks and Fortune 500 companies, we are known for our expertise in the areas of transaction risk management, chargeback mitigation, fraud prevention, and dispute intelligence. Our Veda and Ari product lines are an industry breakthrough helping merchants identify the risk in online transactions and take insightful actions to protect revenue.
Chargebacks are costing merchants up to 40% of their overall revenue if left unchecked. In addition, as per a Javelin study, fraud and chargeback management are consuming 13-20% of a merchant’s operational budget. As a result, it is of utmost importance for merchants to gain access to transaction intelligence that can help them minimize these costs. The vast majority of these chargebacks are preventable, which is why our advanced dispute intelligence platform – Veda, along with our ability to predict chargebacks accurately using Ari have helped us go a long way in effectively preventing and recovering chargebacks for the merchants.
When seeking the right balance of flexibility, confidentiality, big data, cost, and customization capabilities, Amazon QuickSight stood out as the clear winner. In this post, we go over what we needed in a business intelligence (BI) tool, and why QuickSight was the right choice for us.
Helping customers solve problems with data
Our customers face numerous challenges on a daily basis, including the need to adapt to changing payment methods and products, navigate complex payments ecosystems, and address resource shortages. They also frequently encounter difficulties in identifying the root causes of their chargebacks and fraud. As a result, they are constantly confronted with challenges to protect their revenue. It is our mission to utilize data intelligence to address their biggest pain point and make a significant impact on their bottom line.
Our industry-first Advanced Dispute Intelligence platform, Veda, provides merchants with a wealth of data analytics, which would help them minimize revenue leakages. Empowered with this data, our merchants can spot inefficiencies in their operations and proactively fix issues to prevent chargebacks and fraud. Veda’s dashboard can be customized to display the information that’s most relevant to each merchant, allowing them to get to the root causes of their underlying challenges with a high level of accuracy.
The following sample screenshot highlights Veda’s ability to accurately forecast chargeback performance and trends using AWS QuickSight.
To power Veda, we were looking for a balance of flexibility and customization. We needed a BI tool that would meet our data analytics needs, and also provide us with the agility to make periodic changes to align with business requirements. The main reasons we chose QuickSight were:
- Fast setup – Speed and agility can make all the difference when it comes to gathering insights that can impact revenue lost from chargebacks.
- Comprehensive out-of-the-box functionality – Having a tool that has all the business intelligence and embedded analytics capabilities that we needed from the start was very important.
- SPICE engine – SPICE (Super-fast, Parallel, In-memory Calculation Engine) is the robust in-memory engine that QuickSight uses. As it’s engineered to rapidly perform advanced calculations and serve data, it was a big selling point for us.
QuickSight’s out-of-the-box features and functionality were the perfect fit, enabling us to get started with providing insights to our customers right away.
User-friendliness is a key differentiator
Our Gurus provide deep analytics and data-driven recommendations to help businesses identify the problems and inefficiencies that are leading to chargebacks. With this guidance, companies can permanently improve their business processes and increase customer retention. Though we have the expertise and acumen to assist with all aspects of chargeback mitigation, management, and forecasting, we needed that same level of expertise and acumen when it came to translating ideas to products in the BI space.
QuickSight has met all our needs to provide dashboards and reports, with insightful visualizations that help our customers run their businesses more efficiently. Better still, it has done so through an intuitive, user-friendly interface that enables people from all technical backgrounds to use it with very little time spent on training. Having a minimal training timeframe is a key factor when it comes to onboarding new clients.
Partners in customer obsession
One of the things that has been a delightful surprise in our experience with QuickSight is how invested the development team is in collecting our feedback and using it to help inform plans for future releases. We have agreed to be beta testers, and so we receive proactive updates on progress from the project team, providing us with informative visibility on upcoming changes. Being understanding of evolving customer and data needs, and being receptive to feedback has made this a fantastic partnership. We look forward to continuing to work with QuickSight to expand our BI capabilities, empowering our customers with the data they need to be efficient and successful.
To learn more about how QuickSight can help your business with dashboards, reports, and more, visit Amazon QuickSight.
To learn more about how Chargeback Gurus can help you solve your chargeback and fraud challenges, visit www.chargebackgurus.com or email firstname.lastname@example.org.
About the authors
Suresh Dakshina is the Co-founder & President at Chargeback Gurus. A pioneer in data analytics and industry-specific risk management, he is a certified e-commerce fraud prevention specialist and Certified Payments Professional. He understands first-hand the challenges that business owners face, especially when it comes to chargebacks and fraud. He is a veteran speaker, and works closely with Card Networks like Visa and American Express on chargeback process optimization and compelling evidence policies. He loves spending time with his family and his Labradoodle, Joy, when not working.
Damodharan Sampathkumar is the Chief Product Officer & GM-India at Chargeback Gurus. He is responsible for product strategy, platform development, and leading innovation for the next generation in payments technology with a specific focus on Chargebacks and Risk mitigation at Chargeback Gurus. He specializes in cloud-native, mission-critical, real-time payment systems, group-up technology platform setup, and operations. He has successfully championed multiple new-age digital payment platforms across North America, Europe, India, and the Middle East for Central Banks, Acquirer processors, and Fintech innovators. He is an avid cyclist and regular endurance rider who loves to ride during his time off to bring the right balance between work and life.