Expanding Transaction Processing to the Global Market Place
Entering the global marketplace presents a growth opportunity to many sectors of the US economy. Companies in the Transaction Processing sector recognize it and are contemplating, or actively pursuing global expansion strategies. This article highlights two of the unique challenges and opportunities these companies will face in non-US markets: availability, reliability, and veracity of consumer data, and compliance with privacy and consumer protection laws.
Entering the global marketplace is not for the faint of heart; It carries with it as many dangers as it does opportunities. I believe, the Transaction Processing industry global expansion will be similar to many industries where the early pioneers learned their lessons the hard way, by trial and error, but subsequent entrants used that knowledge to make their entry smoother, faster, and more successful. Having been involved as a manager, executive, or consultant with the international expansion of companies in the Logistics and Transportation, Telecommunication Outsourcing, Call Center Outsourcing, Financial Services, and Transaction Processing segments since the late 80’s I have had the privilege of a front seat view of the flattening of the business world for the last 15 years. It is this perspective and experience I hope to share in this article I wrore for Transaction Processing Atlanta.