Vident smiles at $125,000 annual savings

“The Business of Doing More with Less”

In spring 2010, Expense Reduction Analysts (ERA) and its client, Vident, were featured on Marketplace, a radio program broadcast on National Public Radio (NPR). “The Business of Doing More with Less” segment looked at the importance in today’s economy of cutting overhead expenses as an alternative to further layoffs. 

Vident develops and distributes cosmetic dental supplies in North America. As a B2B merchant, it handles many “large ticket” transactions charged to commercial credit cards in the United States and Canada.

Excessive fees eliminated

ERA Consultants with expertise in the highly complex area of merchant card fees conducted a detailed analysis of Vident’s merchant card processing activity. ERA experts looked at processing technology, methodology and interchange qualification; and benchmarked the current fee structure against comparable merchant card service providers.

ERA also explained why Vident was incurring excessive interchange fees and worked with them and their software provider to implement the recommended solution.

“That was a very positive day,” said Stan Bryde, Vident’s CFO, on national radio, referring to when ERA presented its recommendations. “We were extremely pleased.”  

“The business of credit card processing is so complex that we couldn’t tell what was generating the charges. ERA had the time, the resources and the knowledge to understand what the pricing really should be.”

Stan Bryde, Vident CFO

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