“Optus’ use of Touch’s services has resulted in important savings to the Optus business.”
1. Optus had linear growing costs associated with supporting their physical and third party retail channels, whilst customer satisfaction was declining resulting in increased customer churn to alternate providers.
2. The executive team wanted to migrate customers from physical channels (In store) to low cost digital self-service where Optus would have better control and increase customer satisfaction. However, Optus didn’t have the capital, capability or expertise internally to deal with the compliance and growing fraud rates that were then exceeding 20% of new customer revenue per month.
3. The ongoing cost and complexity of managing PCI-DSS compliance (the handling and storage of Credit Card information) was growing significantly and the executives had deemed that this wasn’t a core competency of the business.
4. They had inflexible internal processes taking on average, more than a month to launch, promote, modify products and rewards to both online channels, IVR, mobile, and instore. The executives of the business set the operations teams a task to be more innovative and proactive in relation to capitalising on more innovative and flexible consumer rewards and promotions.
Benefits and valued derived
1. Touch Moved 46% of Optus revenue from physical retailers to online self-service, delivering a significant increase in profitability - Touch and Optus worked strategically together to innovate and grow Optus’s online business from 9% to 55%+ of revenue, with the introduction of new payment options, promotions and initiatives to migrate customers.
2. Delivered a true omni channel customer experience to enable a holistic range of payment options such as traditional cash in store through to online payments via credit cards plus many more options. Optus consumers now had the choice and control to top up their account anytime of the day anywhere, regardless of the channel being physical or online.
§ Due to these innovations, Touch grew Optus’ NPS to 60+, against industry averages of 20+, this was through end-to-end solutions from identification, payment and end-to-end activation of the service in milliseconds.
3. Leveraged Touch’s retail network of over 10,000+ retail stores, from Convenience, Petrol, News Agents, Supermarkets and General Retail to deliver real-time sales, account top up and account activation. This service provided consumers with the choice of when and where to they buy their Optus products 24*7*365
4. Increase of profitability by reducing margin through moving traffic from retail distribution points to the Touch platform that enabled retail, Online, Mobile, IVR and App.
5. Removed the cost and complexity of Optus managing:
i. PCI-DSS Compliance – Touch deliveries the highest level of PCI-DSS compliance (Level 1 version 3.2) that is internally and externally audited on annual basis.
ii. Fraud and chargebacks – Touch owns the risk of fraudulent transactions and chargebacks that occurs for Optus transactions. The current Industry telecommunication online fraud average is ~9% of revenue and Touch delivers 0% and has done since commencement of the contract in 2011.
6. Touch transformed the settlement process from a 30-day settlement, to the same day.
7. Reduced the average time from months to hours to deliver new products, discounts and product changes to customers, via all channels including but not limited to retail and online. Providing Optus with the ability to act in near real-time with new product modifications, pricing and compliance. Gave Optus the flexibility to set up promotional campaigns and rewards with short lead times for implementation but higher returns.