Didyou know

There are a number of different ways vendors can offer managed services to a business in terms of features, functionality, service and performance, but attempting to evaluate managed services based solely on features and functionality can lead to gaps in performance and disappointment in the actual results of the service.

Companies need to ask themselves, “How well do I really understand managed services and how they need to fit into our company to meet our objectives?”  This white paper is intended to provide an overview of what types of managed services are available along with guidance for evaluating the effectiveness and fit of managed services for a particular company’s need.

 

 

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Evaluating Managed Services for CNP Risk Management

White Paper by David Montague 
©The Fraud Practice LLC, Published 2010 

Evaluating Managed Services White Paper

"Best practices for the successful evaluation of fraud prevention managed service providers..."

  • Cost: Available for free download

Finding focus through managed services...

Preview: Evaluating Managed Services for CNP Risk Management

Regardless of the size of a business, big or small, or the age of a business, start-up or established leader, running a successful risk management operation for the CNP market (eCommerce, Mail Order and Telephone Order) can be a real challenge.  Conceptually the methods to “prevent fraud” in a business seem  straight forward but when you start to move from methods to action companies quickly learn preventing fraud is not that easy. The practice of risk management (policies, tools, techniques & strategies) on a company’s operations, product management and resources can be a major issue. For some businesses running an effective fraud management operation can become a distraction to improving and supporting their core business model.

The fact is at some point in a company’s lifetime they will end up considering, directly or indirectly, the use of a managed service provider for some or all of their fraud management needs.  The concept of a managed service provider in the fraud space is an often misunderstood concept. The notion that all managed service providers are the same and can be compared in an apples-to–apples comparison just isn’t the reality of the market.  From a macro perspective there are a number of different ways vendors can offer managed services to a business in terms of features, functionality, service and performance.  Attempting to evaluate managed services based solely on features and functionality can lead to gaps in performance and disappointment in the actual results of the service.

Companies need to ask themselves, “How well do I really understand managed services and how they need to fit into our company to meet our objectives?”  This white paper is intended to provide an overview of what types of managed services are available along with guidance for evaluating the effectiveness and fit of managed services for a particular company’s need.

This white paper is not intended to imply that managed services are right for every company. Instead, it is intended to show that managed services are something every company should take the time to evaluate and consider. For those companies that have not considered managed services yet based on a lack of understanding of what they offer I hope this white paper will provide some insight into the potential opportunities and uses of managed services in your organization.

For companies that have little to no experience in fraud management, and for those companies struggling with managing fraud in their business, managed services offer a very cost effective and efficient approach to putting a strategy in place. With so many vendors and solutions to choose from in the market today the task of evaluating MSP’s can seem daunting. The Fraud Practice offers companies an independent third party consulting resource; knowledgeable in CNP payments, fraud management, tools, MSPs and strategy; to help you assess the fit, applicability and overall effectiveness of a MSP’s solution, or managed services, in general for your business.

To download your free copy of the white paper: "Evaluating Managed Services for CNP Risk Management" Fill in the request form below and click on submit. Your white paper will be emailed to you immediately. (Please note: It can take up to 10 minutes for your copy of the white paper to be emailed to you by the server.)








Additionalresources

  • INTRODUCTION TO MANAGED SERVICES FOR CNP FRAUD PREVENTION.

    This session covers Managed Services, from a basic and overarching definition of a Managed Service is to the scopes of coverage the different types of Managed Service Providers offer. This course includes the motivating factors that influence a merchant’s decision to use Managed Services as well as best practices for a merchant evaluating which Managed Service Provider to use for eCommerce fraud prevention.

  • FraUd solution provider competitive landscape.

    A prepared research document, intended for organizations looking to gain an introductory understanding to the fraud solution marketplace and the the fraud solution providers servicing that market. The competitive landscape document makes references to over 100 fraud solution providers.

  • Making Sense of the Fraud Vendor Landscape.

    With so many fraud vendors and solutions to choose from in the market, how do you know what will work best for your company? How do you compare vendors and solutions? This session provides a method to categorize fraud solutions and services into 8 groups so you can better perform apples-to-apples comparisons. The session builds on the “Moving from Tools to Solutions” session by providing a description of what each group focuses on, where they are best applied, along with a list of commonly used vendors in each category.

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