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Razorpay, India’s largest payment solution provider, enables frictionless transactions, revolutionizing money management for online businesses. Founded in 2014, Razorpay offers a fast, affordable, and secure way for merchants, schools, e-commerce, and other companies to accept and disburse payments online.


The Challenge


Solid anomaly detection is crucial for Razorpay, particularly when serving businesses in payment management. Sudden drops in success rate drops, ticket resolution delays, or fraudulent transactions can impact customer finances and decrease client satisfaction with Razorpay.


Other issues Razorpay was facing:


    

  1. – Slow issue detection
    2. 

  2. – Lack of real-time/near real-time alerts
    3. 

  3. – Delayed critical alerts resulting in financial losses
    4. 

  4. – Manual effort for anomaly and fraud detection
    5. 

  5. – Challenges in tracking alerts across dimensions
    6. 

  6. – Lengthy post-anomaly detection root cause analysis (RCA)
    7. 



The Solution


Anodot was the partner Razorpay needed to address key issues like ticket resolution time and fraud detection. With a user-friendly UI for non-tech business users and ML forecasting capabilities, Razorpay can enhance the customer experience with automated monitoring and real-time anomaly detection.


Main KPIs tracked in Anodot:


    

  1. – Payments SR in different business verticals
    2. 

  2. – Customer success ticket creation and average time to close
    3. 

  3. – Fraudulent transactions in different payment channels
    4. 

  4. – Average payment checkout time
    5. 

  5. – Refunds claimed as fraud
    6. 



Read Full Case Study Here 




Anodot: Real-time alert and forecast platform using ML and AI for business monitoring


 


Real-time communication


With Anodot, analytics and engineering teams can receive alerts across multiple channels, including Slack for seamless communication and collaboration for efficient monitoring and problem-solving.


 


Enhanced customer support 


Anodot is open to building customer-requested features and provides a seamless onboarding experience to familiarize users with the tool quickly. Answering all questions and providing optimized, structured solutions.


 


Removal of manual anomaly detection


Anodot’s real-time alerts help reduce the financial impact on the company. Ops and analytics can spend less time fixing anomalies and more time on innovation and operational efficiency.


 


“Anodot is a valuable asset for sending timely alerts and notifications to the right recipients while facilitating quick and easy feedback.” 


Nishant Thakar


BI and Data Strategy, Razorpay

							

							

						

																										

								

									

										

																																		

									

									

										
Written by Anodot

										

											Anodot leads in Autonomous Business Monitoring, offering real-time incident detection and innovative cloud cost management solutions with a primary focus on partnerships and MSP collaboration. Our machine learning platform not only identifies business incidents promptly but also optimizes cloud resources, reducing waste. By reducing alert noise by up to 95 percent and slashing time to detection by as much as 80 percent, Anodot has helped customers recover millions in time and revenue.										

									

								

							


							
						
						

													

						

    

                
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