Netsuite Unveils Deep Integration with Cybersource
to Combat Cyber Fraud
New NetSuite Integration
Minimises Order Processing Time and Effort While Reducing
Fraud Rates
SYDNEY, SAN MATEO and MOUNTAIN VIEW
Calif. — 12 January 2011 — NetSuite Inc. (NYSE:
N), the industry’s leading provider of cloud-based financials and ERP software suites, and CyberSource, a
Visa company (NYSE: V), today announced completion of a
product integration that will enable companies running on
NetSuite to gain seamless access to the CyberSource Decision Manager fraud management
solution. The result: a completely integrated cloud-based
order management process – from web store, to order
submission, fraud screening and payments, through to
fulfillment and invoicing. NetSuite is the first cloud-based
business management software suite to integrate CyberSource
Decision Manager technology into its core business
processes.
Credit card fraud is a tremendous drag on
E-commerce profitability. Losses from unrecovered shipments,
chargeback fees, and efforts spent processing orders that
turn out to be fraudulent are exacerbated by the overhead of
manual fraud screening and slower processing. A January 2010
report by CyberSource revealed that total E-commerce losses
due to fraud reached US$3.3 billion in 2009, averaging 1.2%
of online sales. That same report indicates that about one
of every four E-commerce orders is manually screened for
fraud. The combination of NetSuite and CyberSource will help
businesses minimise fraud and streamline order processing
through enhanced automated screening. Merchants using
NetSuite can begin sending transaction details to
CyberSource Decision Manager for fraud screening by enabling
a single checkbox.
“iFAX Solutions is a long-time
customer of both Cybersource and NetSuite,” said Darren
Nickerson, President at iFAX Solutions, Inc. “We were
excited to learn that NetSuite now provides deep integration
with Decision Manager, CyberSource’s leading fraud screening
technology. We operate several low margin, high volume
online retail operations and credit card fraud is such a
serious threat to our bottom line that staff must screen
every online order. Since activating the new Decision
Manager support in NetSuite and encoding our fraud screening
rules into its easily configured scoring system, we have
been able to send most of our orders directly and
automatically to fulfillment without human review. We’ve
reduced our cost while getting product into our customers’
hands more quickly. Now that’s what I call a
win-win!”
NetSuite’s new order screening process, powered
by CyberSource Decision Manager, employs fraud management
functionality that automatically screens each order against
200+ validation criteria, including IP geolocation,
multi-merchant transaction history, global delivery address
validation, and device fingerprinting. Orders that do not
meet merchant-established screening criteria are placed in a
“hold” status, a control point which allows for analyst
review. An advanced case management system consolidates and
highlights all order data and test results on a single
screen to speed manual review and order disposition. Other
validation services (such as phone number lookup) can be
invoked easily and without additional data input. NetSuite
also provides integrated access to CyberSource for global
bank card payment processing.
“CyberSource is a natural
strategic partner for NetSuite. With a complete set of
cloud-based payment management services fully integrated
with NetSuite order management work-flows, E-commerce
businesses can now enjoy a unique advantage as they strive
to meet the growing need for safety, security, speed and
accuracy in the order management process,” said Gary
Wiessinger, NetSuite Vice President of Product Management.
“This partnership will give thousands of businesses
immediate access to the world’s best tools to combat
fraud.”
“We are truly excited to see CyberSource
Decision Manager fully integrated into one of the world’s
leading cloud-based business management software suites,”
said Michael Orlando, CyberSource Senior Vice President,
Global Sales and Services. “The goal of our partnership is
to regularly bring new capabilities to NetSuite customers,
enabling them to stay ahead of their competition, domestic
and global.”
For more information on how to improve
order management performance, please join NetSuite and
CyberSource at www.netsuite.com/fraudmanagement.
About CyberSource
CyberSource, a
wholly-owned subsidiary of Visa Inc., is a payment
management company. Over 300,000 businesses worldwide use CyberSource and Authorize.Net brand solutions to process
online payments, streamline fraud management, and simplify
payment security. The company is headquartered in Mountain
View, California with international offices in Reading,
U.K.; Singapore; and Tokyo. CyberSource operates in Europe
under agreement with Visa Europe For more information,
please visit www.cybersource.com.
About
NetSuite
NetSuite Inc. is the industry’s
leading provider of Cloud-based financials/ERP software
suites. NetSuite enables companies to manage core key
business operations in a single system, which includes
Enterprise Resource Planning (ERP), Accounting, Customer
Relationship Management (CRM), and Ecommerce. NetSuite’s
“real-time dashboard” technology provides an easy-to-use
view into up-to-date, role-specific business information.
For more information about NetSuite Inc., please visit www.netsuite.com.
ENDS
Article source: http://www.scoop.co.nz/stories/BU1101/S00108/new-netsuite-integration-minimises-order-processing-time.htm
Category: Cyber Fraud