Navigating the Unpredictable: Strategies for Thriving in a Volatile Market

In today's rapidly evolving business landscape, the ability to adapt and innovate is paramount. Ava Kelly, Chief Product Officer at Thredd, shares her insights on how organizations can prioritize adaptability, innovation, and customer relationships to navigate the unpredictable terrain in a new PYMNTS eBook, "Beyond the Horizon: How to Identify Unexpected Threats That Could Impact Your Business."

Unlocking the Power of Adaptability and Innovation

Embracing Agility in a Volatile Market

The only constant in today's market is change. Businesses must be prepared to pivot and adapt quickly to shifting conditions, particularly when faced with unexpected "wild card" situations. At Thredd, the company's modular platform and agile teams enable them to empower clients worldwide to launch new payments programs, issue virtual cards, and provision them to mobile wallets swiftly. This level of adaptability is crucial, as Ava Kelly experienced firsthand while traveling abroad and having to quickly resolve a fraud incident on her card.

Accelerating the Digital Payments Transformation

The continued global shift towards digital commerce is a significant tailwind for businesses. Consumers are increasingly embracing digital payment methods, and companies are moving away from traditional check-based transactions. This trend is driving a growing demand for flexible, scalable payment solutions. The online travel agency (OTA) sector, for instance, has been at the forefront of adopting virtual cards to manage payments to a diverse, international supplier base.

Unlocking the Potential of Embedded Finance

Embedded finance presents a wealth of opportunities, with the potential for "wild card" scenarios as the industry evolves. Ava Kelly expects to see the industry move towards supporting non-financial brands that want to seamlessly integrate payments into their customer experience. Across various verticals, from ridesharing to retail, businesses are embedding innovative payment solutions into their offerings. For those new to the issuer side of payments, navigating the complex requirements and stakeholder management can be challenging. By partnering with experienced providers, brands can start generating new revenue streams faster, reduce operational overheads, and maintain greater control.

Expanding Globally, Navigating Regulatory Complexity

The increasingly global economy is another significant tailwind for businesses. As Thredd's clients expand their operations worldwide, the company is there to support them with its global market presence. Thredd has recently opened operations in the U.S. market in response to client demand, and its APAC business is already well-established and growing rapidly. This global expansion allows clients to operate seamlessly across borders through a single relationship, leveraging Thredd's on-the-ground expertise.Navigating the regulatory landscape, however, remains a constant challenge. Ava Kelly emphasizes that organizations and their partners who excel in compliance management and consistently invest in maintaining the highest levels of security will build trust with their customers. While the outcomes of new regulations may be unpredictable, having the right processes and partners in place is a wise investment.

Prioritizing Customer Relationships in Uncertain Times

In an industry where change is the only constant, Ava Kelly remains confident that businesses who prioritize adaptability, ongoing innovation, and the importance of customer relationships will be well-positioned to navigate the unpredictable landscape. By empowering clients with flexible, scalable payment solutions, supporting their global expansion, and maintaining the highest standards of compliance, Thredd is helping organizations thrive in the face of uncertainty.