Is your manufacturing company losing revenue to disputes and chargebacks? You’re not alone. At CB-Alert, we frequently work with manufacturing companies to reduce their supply chain chargebacks.
Over the years, we’ve seen many companies struggle with chargebacks, and we’ve come up with some groundbreaking techniques to halt them before they begin.
If you’re looking to put an end to your manufacturing chargebacks, look no further than us at CB-Alert.
Key Takeaways
- Chargebacks can wreak havoc on manufacturing companies
- Manufacturing chargebacks are expensive and usually high volume
- At CB-Alert, we are experts with high-volume chargebacks
What Are Manufacturing Chargebacks?
Chargebacks in manufacturing are penalties imposed by retailers or vendors due to issues like late shipments, incorrect orders, or damaged goods. They are typically costly and lead to a heavy reduction in revenue. They also hinder relationships with your business partners/merchants.
Why Do They Occur?
Manufacturing chargebacks occur due to discrepancies in order fulfillment and delivery processes. These can include late shipments, inaccurate product quantities, damaged goods, or incorrect labeling. Often, chargebacks stem from failing to meet the retailer’s specific requirements or failing to adhere to agreed-upon delivery timelines.
Chargebacks sometimes result from paperwork errors, such as inaccurate invoices or missing documentation. Addressing these issues promptly can help streamline operations and improve overall efficiency.
At CB-Alert, we help many manufacturers identify why chargebacks occur in the first place so that they can avoid them in the future. We also offer prevention alerts to all of our clients.
Why Are They Costly?
Chargebacks can be costly for your company due to the financial penalties incurred due to non-compliance with retailer requirements and errors in order processing. These penalties can quickly add up, impacting your bottom line and eating into your profits.
Additionally, chargebacks can strain relationships with retailers, potentially leading to a loss of future business opportunities. The time and resources spent on disputing chargebacks and rectifying errors also contribute to the overall costliness of these situations.
Manufacturing Agency Chargeback Prevention
- Use fraud prevention tools: Implement tools like 3DS2 authentication, RDR, and chargeback alerts.
- Add a merchant descriptor: Ensure your merchant descriptor matches your online store name for better recognition.
- Partner with CB-Alert: We help travel merchants stop fraud before it becomes a dispute.
- Communicate transaction details: Make sure customers understand what they’re buying, including fees and prices.
- Provide great customer service: Address customer inquiries and issues quickly to avoid dissatisfaction.
- Issue refunds when needed: Refunds are often cheaper than chargebacks and can build customer loyalty.
- Use clear billing descriptors: Ensure the name on the statement is clear to reduce confusion.
- Keep accurate records: Maintain detailed transaction records and customer communications.
- Monitor chargebacks: Use alert systems to track and address chargebacks early.
Why Choose CB-Alert
Chargebacks can be especially damaging for manufacturing companies. Unlike some industries, distinguishing between fraudsters and legitimate complaints can be particularly challenging.
With over a decade of experience in high-risk sectors, CB-Alert is here to support your business and address these issues effectively. Here’s what we offer:
- Real-time alerts: Through Ethoca and Verifi
- 24/7 customer service: Always available to assist
- Transparent pricing: Clear and straightforward costs
- RDR services: Representment, Dispute, and Resolution
- Gateway/CRM agnostic: Works with various systems
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