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Background

SRS Pharmacy Systems provides integrated management software that keeps community, hospital, clinic, and university pharmacies operating efficiently and profitably. Its company promise of “One System, One Vendor, One Call” is not just a tagline, it’s a promise to each and every customer to resolve issues for them. Todd Hook, Director of Operations at SRS, shares his story of how SRS extended this customer promise to include the integrated payments experience.

Success Snapshot

Dilemma

The SRS customer promise of “One System, One Vendor, One Call” could not be completely fulfilled due to a fragmented payments process.

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Objectives

  • Enable complete 360° fulfillment of the customer promise
  • Ensure that customers experience a seamless and secure payment process

Strategy

Develop a new, integrated payment solution that can be controlled in-house.

Wind River Approach:
Bring together multiple technologies to form a comprehensive, white label payments solution tailored specifically for the needs of SRS customers.

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Results

Greater customer satisfaction

100% of customers became compliant with industry security standards within 90 days

Revenue from payments provides funds to support ongoing platform development to further enhance the customer experience

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Dilemma

Disjointed Payment Process Led to Change

Todd Hook, SRS Pharmacy Solutions:

“For years SRS had worked with multiple providers to manage different aspects of the payment capabilities in our platform, ranging from merchant account set-up to security compliance to processing payments.

This multi-provider environment meant that our customers had to engage with different vendors for different phases of the payments process rather than dealing solely with SRS. Clearly, this was a gap in delivering on our “One System, One Vendor, One Call” promise. We realized we needed to simplify the process.

This change was of particular importance when we discovered a large percentage of our pharmacies were non-compliant with industry security standards. The vendor we were using to assist our customers with
compliance had engaged in a ‘self-service’ approach.

As a result, many of our customers failed to complete the process and were at risk of a breach. This was alarming and did not live up to our high standards of service. SRS needed to step in to resolve the technology gap.

SRS was in the process of a platform upgrade to enable the acceptance of EMV/Chip cards. The timing was perfect to phase out our multi-provider environment and assume control of payment-related functions.

Doing so would ensure an optimized and secure payments experience for all customers while closing the gap in fulfilling our One System, One Vendor, One Call promise for payment processing.”

[SRS partnered with Wind River because of] “its reputation for top notch service and support.”

Creating SRS Pharmacy Payments

Todd shared that:

“SRS partnered with Wind River Financial regarding this important initiative for two primary reasons:

  1. Reputation for top notch service and support.
  2. Solid compliment of technology partners to provide flexibility and customization, tailored to our customer’s needs.

Wind River’s first step was to deliver a white-label program to SRS for payment processing.

This gave us greater control over their experience and their costs for processing.

Next, Wind River assembled a set of tools that would allow SRS to manage the rest of the process – from prospecting and sales to set-up and onboarding to security and support.

Strategy

Drawing upon its network of technology partners, Wind River brought together the components we needed for our tailored solution. These components included:

CLOUD-BASED CRM TOOL

to manage the sales and set-up process

  • Enter new customer leads
  • Track customer through the sales cycle
  • Manage merchant account applications

DATA SECURITY MANAGEMENT

to simplify the process of complying with payment industry standards

  • Reduce the complexity of the information required from customers
  • Enabling full network scans on behalf of our customers to identify and correct any security vulnerabilities

CLIENT SUPPORT PLATFORM

so we could provide complete customer support such as answering day-to-day questions and processing common maintenance requests.

With our new payments solution, SRS Pharmacy Payments, we have further differentiated SRS from other providers in the industry. The new solution allows us to completely deliver not only in the business of pharmacy, but in payment processing, and on our customer promise of OneSystem, One Vendor, One Call.”

“We value our partnership with Wind River . . . it has been a complete win for everyone.”

Results

“The impact of controlling our customers’ payment process has been significant right out of the gate,” Todd said.

  • Customer satisfaction increased
  • 100% compliance with industry standards for data security within the first three months
  • Additional revenue to support ongoing development of features and functionality

“We value our partnership with Wind River and look forward to a long and beneficial relationship. It has been a ‘complete win’ for everyone.”