Year In Review/Happy Holidays
 

This past year has been difficult for many of us and presented new challenges to our business. We have all made it through this year with the same determination that got us to where we are today. What set this year apart from the past few years? In my opinion the culmination of a perfect storm in the financial sectors of our economy coming together at the wrong time to create a financial vacuum.

We are all aware of the of the real estate crisis that put a choke hold on the national economy. The trickle down effect from the banks being bailed out to the tightening of consumer credit, and too many other factors to get into now, that led to the shrinking of our customer base. In addition, it has forced the financial institutions to take a closer look at their portfolios of business to asses how much risk they still want to have on their books. This in combination with the up sales and cross sales that have burned many acquirers to the point of no return we seem to be left with a void. Whether it is the downfall of Cynergy Data, issues at Optimal Group or the Israeli government investigation of Cal Bank the evidence of the financial carnage is everywhere. Many adult merchants are now reaching out for new, untapped resources to start processing with.

It is human nature to get comfortable when things are going well. To let our guard down a little. If this year has taught us anything it is that we need to live by the old adage ?hope for the best plan for the worst?. We can?t afford to get so comfortable that we stop looking to diversify our resources. To spread our risk tolerance with multiple resources like we do when we properly load balance our business with an acquirer. We need to value those financial resources and not see them as expendable. We need to see the value of longevity for those financial resources over quarter profits.

I have complete confidence that we have all learned through these difficult times valuable lessons. Life always seems to be a better teacher when it has our full attention!! What lessons have you learned over this past year? What business practices will you do different? What adjustments have you made to assure that this coming year will be better than the past year?

Our offices will be closed from December 21st to January 4th. I want to extend my best wishes to everyone for these holidays. I want to also wish everyone a happy and prosperous New Year. I will be attending the AVN show in Las Vegas starting January 11th. I would welcome the opportunity to discuss what your goals are for this coming year and how we might help you achieve those goals. Please just send me an email if you would like to get together at the show.

Regards,
Keith Reilly
Executive Sales Manager
O.800.439.1974 ext.122
[email protected]

Happy Holidays :)