The cost benefits of outsourcing your PCI DSS compliance

There is no doubt that British businesses are currently facing unprecedented uncertainty as the Covid-19 pandemic continues and Brexit appears on the near horizon. It’s a challenging time and with a steep climb to recovery ahead, many businesses are cutting costs and tightening their belts. Finding the balance between managing income and overheads with putting money towards expansion and future growth can be a challenge when you don’t know what lies in the future.

While an outsourced card payment processing system that addresses PCI DSS compliance may appear like unnecessary spend at this time, it could, in fact, save you money in the long run. Retaining processes in-house can seem like a safer option but there are many advantages to choosing an external solution.

Here are three ways that outsourcing to a PCI DSS compliance specialist and card payment processing provider could be an advantage rather than a cost burden.

Reduced need for specialist staff

The complexities of accepting, transferring and storing card payment data and the resulting compliance obligations such as GDPR and PCI DSS require experienced and specialised staff that can be hard to source and retain. Outsourcing to an external payment processing service removes this need, cuts payroll costs and ensures your transaction environment remains secure and protected against problems created by staff turnover or absence.

PCI DSS compliance requires ongoing management rather than an annual tick box exercise. By outsourcing the whole process to an external provider, you remove the business from the compliance scope so more time can be spent on day to day tasks and future growth.

Increase staff productivity

With a purpose-built external system in place, that securely integrates with other functions such as your CRM database, your employees will have the ability to process transactions more quickly and efficiently, meaning a smaller team can handle more calls and generate more sales while maintaining a high standard of service.

Protect from card fraud

There were over two million cases of card-not-present fraud in 2019, with a total value of over £470m*. You can reduce your vulnerability to card fraud by implementing a secure card payment system that not only protects your business but also your customers from data breach.

Over recent months, as lockdown restrictions were implemented, many businesses were quick to pivot to remote sales online and over the phone. The speed of implementing these new processes resulted in the exposure of weaknesses in IT systems and networks which cyber criminals have been quick to pounce on. The investment in an external, cloud-based card payment processing solution removes these weaknesses and strengthens processes by securing the transaction environment and enabling employees to access the system and process payments wherever they are working, be it remotely or in the office.

At PCI Telecom, we create bespoke, card payment processing solutions to suit the needs of your business. Our solutions are cloud-based, secure and reliable and can be used independently or as part of an omnichannel payment suite. And because our solutions are accredited to PCI DSS Level 1 standard, you not only benefit from a simplified transaction process, but also from descoping your business of its compliance obligations and passing that responsibility to us, saving you time, staff resource and money. Visit our Solutions page for more information or alternatively contact us to discuss your needs or drop us a note on webchat over on the right – we reply immediately!

* According to UK Finance