Powering Data-Driven Decision Making: Thunes Product Release
Get the transaction insights you need to run your business effectively with Thunes’ data management update.
Contribution by: Elie Bertha, Product Director
Data growth and management
Data management has changed dramatically over the past decade. New and evolving data privacy regulations, coupled with unprecedented data growth, have made modern and impactful data management strategies more urgent than ever.
Take Thunes’ payments platform, for instance, where billions of transactions pass through annually. Every transaction and customer activity contains crucial information for optimising your payments processes. The potential to harness this data for better business decisions and actionable insights is massive.
But faced with multiple data sources and the creation of seemingly endless piles of data each day, where should you start?
This blog post will explore how we typically tackle these challenges and how we’ve evolved our solution to be scalable and meaningful to our partners.
Leverage our new product feature to make better business decisions
As Thunes’ business and transaction volumes grew exponentially, we saw the need to develop an automated reporting feature to sort, curate and deliver insights to our partners at scale.
Previously, we relied on manual data retrieval to send transactional or financial data to our partners. Not only was it a time-consuming, manual process – reporting formats and sending times were not standardised.
Now, a brand new data infrastructure built separately from the operational database has made it easier, safer and faster to generate standard reports for our partners.
With Thunes’ latest product update, partners can access transactional and financial reports on a daily or monthly basis, whenever it’s needed.
These reports contain metrics such as transactions sent over a selected time period, average transaction value, transaction success rate, and more. With this information on hand, partners can handle reconciliation swiftly, analyse underperforming transactions rates and make strategic business decisions backed by data.
What once took days to synthesise and understand – now takes mere minutes.
Great data comes with great responsibility
Data is a huge competitive advantage and source of growth for businesses around the world.
At Thunes, we understand the significance of leveraging data and making this information transparent, accessible and insightful. Our data engineering teams are constantly at work to provide and maintain a high-quality data platform so our partners can make better business decisions.
Interested in finding out more? Chat to our friendly team today.