GE HealthCare is a brand synonymous with innovation. The company develops various advanced imaging, diagnostic, and monitoring devices that healthcare professionals use worldwide.
As GE HealthCare embarks on a new chapter as an independent company following its spin-off, it continues to push the boundaries of what's possible. In service of this goal, the company is rethinking its operations end-to-end, including payments. It's here GE HealthCare has partnered with Checkout.com to standardize its global payments and power its ecommerce strategy to deliver on its mission of creating a world where healthcare has no limits.
Ecommerce plays a crucial role in GE HealthCare's overall go-to-market strategy, allowing it to expand its reach and enhance its quality of care. However, before working with Checkout.com, the complexity of payments impacted GE HealthCare's ability to scale and provide a seamless and consistent customer experience.
As David Wheeler, Senior Director of Technical Product Management for GE HealthCare, explains: "We operate in over 130 markets, and each is unique. To provide the best customer experience, we must adapt our payments offering and processes to address these local nuances. However, by doing so, our payments architecture became increasingly fragmented and complex."
Echoing David's point is his colleague Kelsey Dowling. As the company's Technical Product Manager for Payment Solutions, Kelsey is on the frontline of payments. "We had multiple integrations with different payment gateways and providers in every region across the globe,” she recalls. "It took months to make changes or unlock new markets. This made it incredibly challenging to match the pace the company wanted to move and support its goal of building a global ecommerce presence."
Using Checkout.com is changing this equation. Its solution ensures GE HealthCare can accept payments across all of its key markets, offering the local payment methods and experience required in those markets, all through a single API integration.
"With Checkout.com, we can scale our ecommerce presence faster than we could before," Kelsey says. "At the same time, our team is no longer seen as a blocker. We're an enabler for the business."
David adds that this shift has been transformative for the role of payments within the business. "Our colleagues now recognize the value and grasp the foundational role that payments play in the overall success of the business. Rather than being a service provider constantly on the back foot battling to fulfill requests, we're now a strategic function. Leadership is no longer telling us what to do; it's asking for our guidance."
When searching for its new payments provider, GE HealthCare sought a partner to meet its immediate needs, and that was committed to its long-term journey. "What immediately stood out when working with Checkout.com is the level of support and attention it provides," says David. "Of all the vendors we've worked with, Checkout.com is the most attentive."
The level of attention Checkout.com provides is matched by the value of the insights it provides GE HealthCare. "The team knows payments across all the markets they serve," David adds. "They bring us insights and recommendations that make a difference, and we trust what they tell us."
The same data transparency that unlocked those insights for GE HealthCare is helping the team make other changes that deliver a significant impact. "Authorization rates are one of our key metrics," Sai explains. "With Checkout.com, we're already seeing improvements due to the platform handling the transaction end to end."
Additionally, Sai notes the granular data provided by the platform alongside each payment is helping his team find areas for improvement. "The ability to drive continual innovation and improvement is almost embedded as a feature in the platform."
Checkout.com's functionality also empowers GE HealthCare to streamline and modernize backend processes to generate more efficiencies, cost savings and improve the customer experience.
The reconciliation process, for instance, is one area where GE HealthCare already sees a significant impact. Sai recalls that, when using multiple vendors, reconciling payments was an arduous exercise in looking across lots of different systems and data sets. Inevitably that led to errors, including chasing up invoices that the customer had paid.
"It wasn't a good look and frustrated our customers," Sai says. "We now have a single view of all invoices and receipts. This functionality not only saves on admin and ensures accurate monthly and quarterly reporting, it means we are not unduly troubling customers."
This combination of technical superiority, availability to support, deep market expertise, global scale, and shared ambition is unlocking our payments potential, says David. "Checkout.com gives us the confidence to seize new opportunities or overcome issues as they occur. As a result, payments have been transformed from something that was restricting growth to a function that enables it."