Altair Case Studies MasterCard Enhances Customer Experience with Self-Service Data Preparation

	MasterCard Enhances Customer Experience with Self-Service Data Preparation Altair

MasterCard Enhances Customer Experience with Self-Service Data Preparation

Altair

Applicable Industries	Consumer Goods Retail
Applicable Functions	Quality Assurance Sales & Marketing
Use Cases	Machine to Machine Payments
Challenge	MasterCard, a global technology company in the payments industry, was facing a significant challenge in its business financial support team. The team of 13 was spending between 40 to 80 hours per week manually reconciling transactions and cash from reports that resided on the company’s mainframe. This process involved printing 20-30 individual, multi-page reports daily and hand-keying data into Excel for reconciliation. The task was not only time-consuming but also inefficient, especially considering the company's rapid growth and expanding product offerings. Derek Madison, Leader of Business Financial Support at MasterCard, was tasked with identifying new ways to increase efficiency and improve MasterCard processes. Read More
About Customer	MasterCard is a leading technology company in the global payments industry and the second largest processor in the world. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments, and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business, and managing finances – easier, more secure, and more efficient for everyone. The company is continuously growing with rapidly expanding product offerings. Read More
Solution	MasterCard adopted a data preparation solution from Monarch to address this challenge. Monarch extracts vital information locked in mainframe reports and delivers it to a team of analysts for immediate use. Madison and his team created reusable data prep models with Altair® Monarch®, which allowed them to convert the needed mainframe files into a tabular data file ready for analysis. Specific dates and times were recorded on mainframe reports, and a program was created to rename the output files and save them to a location that corresponded with the date. This automation eliminated the time-intensive manual hand keying, enabling the team to shift their resources to higher value and more strategic goals. Read More Log in to view content
Contents

Applicable Industries

Consumer Goods

Retail

Applicable Functions

Quality Assurance

Sales & Marketing

Use Cases

Machine to Machine Payments

Challenge

MasterCard, a global technology company in the payments industry, was facing a significant challenge in its business financial support team. The team of 13 was spending between 40 to 80 hours per week manually reconciling transactions and cash from reports that resided on the company’s mainframe. This process involved printing 20-30 individual, multi-page reports daily and hand-keying data into Excel for reconciliation. The task was not only time-consuming but also inefficient, especially considering the company's rapid growth and expanding product offerings. Derek Madison, Leader of Business Financial Support at MasterCard, was tasked with identifying new ways to increase efficiency and improve MasterCard processes.

About Customer

MasterCard is a leading technology company in the global payments industry and the second largest processor in the world. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments, and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business, and managing finances – easier, more secure, and more efficient for everyone. The company is continuously growing with rapidly expanding product offerings.

Solution

MasterCard adopted a data preparation solution from Monarch to address this challenge. Monarch extracts vital information locked in mainframe reports and delivers it to a team of analysts for immediate use. Madison and his team created reusable data prep models with Altair® Monarch®, which allowed them to convert the needed mainframe files into a tabular data file ready for analysis. Specific dates and times were recorded on mainframe reports, and a program was created to rename the output files and save them to a location that corresponded with the date. This automation eliminated the time-intensive manual hand keying, enabling the team to shift their resources to higher value and more strategic goals.

Impact #1	The implementation of the Monarch solution has significantly improved MasterCard's operational efficiency. The automation of the data preparation process has liberated the department from manual data entry, allowing the team to expand their skill set and become more involved across new products and services. The team can now easily pull a customer’s transaction detail into Monarch for analysis whenever a customer is unable to reconcile bank accounts or transactions. This has resulted in improved customer service request results that weren’t possible before. The success within customer service is a testament to the effectiveness of the Monarch solution, and the company is confident of uncovering more opportunities where they can expand the use of Monarch.

Impact #1

The implementation of the Monarch solution has significantly improved MasterCard's operational efficiency. The automation of the data preparation process has liberated the department from manual data entry, allowing the team to expand their skill set and become more involved across new products and services. The team can now easily pull a customer’s transaction detail into Monarch for analysis whenever a customer is unable to reconcile bank accounts or transactions. This has resulted in improved customer service request results that weren’t possible before. The success within customer service is a testament to the effectiveness of the Monarch solution, and the company is confident of uncovering more opportunities where they can expand the use of Monarch.

Benefit #1	Reduced time spent on manual data reconciliation from 40-80 hours per week to virtually zero.
Benefit #2	Recouped 40-80 hours a week, which could be redirected to higher value and strategic goals.
Benefit #3	The Monarch solution paid for itself within the first six months.

Benefit #1

Reduced time spent on manual data reconciliation from 40-80 hours per week to virtually zero.

Benefit #2

Recouped 40-80 hours a week, which could be redirected to higher value and strategic goals.

Benefit #3

The Monarch solution paid for itself within the first six months.

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Overview

MasterCard Enhances Customer Experience with Self-Service Data Preparation

Operational Impact

Quantitative Benefit