MyLaps
MyLaps is a global player in the field of sports timing. Each year more than 20 million athletes take part in events that are being timed with MyLaps technology. Some of these events include the 24 Hours of Le Mans, CIK-FIA Karting World Championship, Giro d’Italia, FIA WEB Endurance Championchip, FIA Formula E, Indianapolis Motor Speedway, Ironman Triathlon, NASCAR, Olympics, Super GT Japan and the WSBK World Superbikes.
The project
For MyLaps, EcomStream performed a comprehensive benchmark of the existing online payment solution to ensure the company secured market-competitive rates. By analyzing the payment terms and comparing them with industry standards, EcomStream identified areas where MyLaps could improve its financial efficiency.
The benchmarking process led to renegotiations with payment providers, resulting in significant savings for the company. These cost reductions had an immediate positive impact on MyLaps’ operational result, enhancing profitability and streamlining payment processes.
By safeguarding competitive rates through data-driven insights, EcomStream helped MyLaps optimize its payment infrastructure, ensuring it remained cost-effective while maintaining high service standards. This collaboration demonstrated how effective benchmarking and renegotiation can deliver tangible benefits, contributing directly to a company’s financial performance and long-term success.
