Regular monitoring of your company is one of the basic requirements to ensure that you are on the right track: the path you have chosen, also shaped by market conditions. Among the many tools and techniques we can use to make this happen, today we will deal with SWOT.
Doesn't ring a bell? SWOT is the acronym for Strengths, Weaknesses, Opportunities and Threats, i.e. the different aspects we will analyze in today's article to find out the situation of our company in the market.
Weaknesses and Strengths affect those internal or own characteristics of our company, which we can have control over according to our interests. On the other hand, we have Threats and Opportunities, which refer to the most contextual factors of our business that, although we cannot control, we should take into account when designing and implementing our strategy.
PayXpert provides you with the best fintech tools that, together with the SWOT analysis, will help you have full power over your business finances. Below you can read some of them and how they can benefit you depending on the Weaknesses, Threats, Strengths and Opportunities of your company.
Business Intelligence: It is a graphical way of knowing what is happening in your company. Graphs and statistics show you and your team the most relevant data of your business, giving you a deep understanding of it. See detailed charts of your transactions: from the rejection ratio to maps of total activity. In this way, it is incredibly easy to be aware of possible Threats or Opportunities. Where are your best clients? What are the leading causes of reimbursement?
Payment Channels: A wide range of payment methods can become one of the great Strengths of your business. PayXpert gives you the latest payment technology to optimize both your sales and benefits. This allows you to automate payments (through telemarketers, IVR, or mail), offer a convenient and versatile POS and have international payment methods (RuPay, AliPay and WeChat Pay). Your new secret weapon: a whole arsenal of financial technology available to your company.
Data Management: one of the most popular techniques of our time, which helps to alleviate the Weaknesses you may not even have been aware of. With the PayXpert platform, you will be able to use the data from your transactions to compile statistics, to get to know your customers and offer them services tailored to their preferences and purchasing habits. Data Mining puts at your fingertips all the necessary information to make the decisions that will allow you to reach the full potential of your business.
SWOT analysis is one of our favourite techniques to take care of sound business performance. By putting our financial technology tools at your disposal, we obtain a perfect combination to develop the market strategy that your business needs —everything with a clear objective: the economic optimization of your company.