What is a 3rd party provider? Why do we use them?

Companies no longer need to be concerned with every element of the software. They used to require teams to construct tools, but now the debate is whether they should build it in-house or utilize a third-party service. Furthermore, technologies keep evolving rapidly, so if we lose focus on one aspect of a service, we will be left behind in the competition. Furthermore, the rivalry in the iGaming sector takes this match to a whole new level. Hence, we can find a lot of 3rd party software providers being employed in the gaming industry. With so many new markets opening up, it's never been more crucial for operators to be flexible in their offerings. With that in mind, many providers are embracing third-party supplier-led strategies.

In this article, you will learn about 3rd party providers, their advantages and disadvantages, and how we use them in our marketing automation software to provide the best service to our clients.

What is a 3rd party provider?

A third-party provider is a person or corporation that provides services to another firm. A third-party vendor is anybody or anything that accesses and processes a company's data.

Examples: Payment gateways, recruiting and HR software, patent licensing software, Messaging services, Marketing automation software like OptiKPI, and cloud-based/SaaS software solutions. Tax professionals, accountants, consultants, and email list services are also considered as 3rd party vendors.

Why do businesses need a 3rd party provider?

When a business has a lot on its plate, they delegate specific operations to 3rd party. There are a lot of advantages to employing 3rd party providers ranging from efficiency to lowering operational costs. The same goes for the iGaming business; running an online gaming platform requires varied expertise from various departments. The gaming operators cannot spend their time and resources building all these branches. Moreover, omitting 3rd party providers and building in-house tools has proven to be a big-time disadvantage. Hence they outsource such services to the 3rd party providers. Either in the form of procuring gaming software or integrating marketing automation software.

Say, for example, you’re a Poker platform and require a payment gateway for transactions; You don’t go around building one, it will only drain your resources. Instead, integrate a 3rd party payment gateway provider and run your business efficiently.

Likewise, OptiKPI is also a 3rd party CRM provider - and we have worked hard to build for gaming operators the most agile, real-time marketing automation software with the best knowledge about the gaming industry.

Following are some of the 3rd party services that we have integrated into our software:

- OptiKPI uses providers to work with Meta and send Whatsapp messages.

- In addition, we use SMS providers to cover the EU, Mexico, and India.

Why do we use 3rd parties? Because we buy the best product from the market and ready-to-use services - it is more efficient and budget-friendly.

In addition, third parties are frequently responsible for many critical facilities and procedures to fulfill their core value propositions, such as payment gateways and communication servers. As a result, they are no longer a luxury but provide several advantages to those who can leverage them. As a result, the 3rd party providers are inevitable in today’s business world!

Pros and cons of 3rd party providers

There are numerous advantages to employing 3rd party software.

Benefits:

• You get ready-to-use solutions here and now
• You get ready-to-use expertise and the best practice from the market
• You’ll save time
• You’ll save money
• You’ll get valuable expertise

In short: You can take your time off from repetitive operations/ tasks that can easily be outsourced and spend it on improving your business. Pay attention to the core business and take it to the next level. You can get the best service from 3rd party providers at a fraction of the cost you spend on building in-house tools. You can simply switch it off when you no longer require that service.

We at OptiKPI employ 3rd party service providers to improve the quality of our services. Example: Since we are an international product, we have clients from all over the world. Hence, we are required to send messages to every part of the world. Therefore, instead of developing our very own communication tool, we have integrated the best 3rd party service providers into our software. As a result, we are able to provide a seamless service across the globe by using the best service providers for that specific jurisdiction.

Cons:

Outsourcing any activity exposes organizations to various delivery, behavior, and reputational risks and consequences. Yet, it is an operational requirement and an economic reality that they cannot escape. Therefore, there always is a certain risk factor when we delegate operations to a 3rd party service. But with every step of growth lies a particular element of risk. Hence, choose your partners wisely.

We at OptiKPI know the importance and risks of 3rd party providers. We ourselves are a 3rd party service provider. Our marketing automation software has proven to be the best solution for our clients. We make sure that our client gets the best service and safety. We encrypt our clients' data and store them on secure servers, ensuring maximum security.

Why does OptiKPI use 3rd party providers?

Some marketing automation software in the market uses only their in-house tools for all operations. In short, it might seem like an excellent option. But it is not the case. There are a lot of limitations to building and operating in-house tools. For starters, the cost of such marketing automation software with “all-included” is three times more expensive than ours.

We use 3rd party providers in OptiKPI to provide the best service to our clients at an affordable price!!

OptiKPI is a marketing automation solution for the iGaming industry. We use 3rd party providers to make day-to-day operations more efficient. Our integrations include communication servers for SMS, email, and push notifications.

We take a long-term strategy to increase customer lifetime value. As a result, our clients have seen revenue growth of more than 30%, and team productivity increased by 60%. You can integrate OptiKPI into your marketing system immediately. Get in touch with us anytime and get personalized solutions.