[vc_row type=”container” padding_top=”” padding_bottom=””][vc_column width=”2/3″ css=”.vc_custom_1447941665365{margin-bottom: 35px !important;}”][vc_single_image image=”71124″ img_size=”full” css_animation=”bottom-to-top”][/vc_column][vc_column width=”1/3″][vc_single_image image=”71123″ img_size=”full” css_animation=”bottom-to-top”][vc_single_image image=”71123″ img_size=”full” css_animation=”bottom-to-top” css=”.vc_custom_1469791074928{padding-top: 2px !important;}”][/vc_column][/vc_row][vc_row type=”container” padding_top=”” padding_bottom=””][vc_column width=”1/6″][/vc_column][vc_column width=”2/3″][vc_row_inner][vc_column_inner width=”1/4″ css=”.vc_custom_1447941743702{margin-bottom: 10px !important;}”][vc_column_text]CHALLENGE
[/vc_column_text][/vc_column_inner][vc_column_inner width=”3/4″][vc_column_text]Improve the invoicing process
Security company Securator started in 1999, and today it is the leader in ID-protection and general security in Sweden, Norway, Finland, Poland, Russia and Ukraine.
The company operated its business by invoicing its customers in a one-off basis for services that would last between 12 and 36 months. This generated a relatively high customer churn, and little opportunity for upselling other
services.
Additionally, the nature of the invoicing process resulted in a difficult to manage liquidity, with periods of high influx of payments.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][vc_column width=”1/6″][/vc_column][/vc_row][vc_row type=”container” padding_top=”” padding_bottom=””][vc_column width=”1/6″][/vc_column][vc_column width=”2/3″][vc_row_inner][vc_column_inner width=”1/4″ css=”.vc_custom_1447941753917{margin-bottom: 10px !important;}”][vc_column_text]SOLUTION[/vc_column_text][/vc_column_inner][vc_column_inner width=”3/4″][vc_column_text]Designed and implemented new flexible invoicing options.
This allowed the incorporation of new services and products to existing subscription accounts from customers, merging the payments into a single monthly invoice covering all services.
Fintech took over the financing and administration of subscription accounts, being responsible for monthly invoicing of the client’s customers.
Finally, Fintech created a customer solution to deal with customers’ invoice issues.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][vc_column width=”1/6″][/vc_column][/vc_row][vc_row type=”container” padding_top=”” padding_bottom=””][vc_column width=”1/6″][/vc_column][vc_column width=”2/3″][vc_row_inner][vc_column_inner width=”1/4″ css=”.vc_custom_1447941764835{margin-bottom: 10px !important;}”][vc_column_text]RESULTS[/vc_column_text][/vc_column_inner][vc_column_inner width=”3/4″][vc_column_text]A successful transition and operational excellence
- Client started with no subscriptions, and today they manage 100,000 accounts.
- Improved invoicing process with the incorporation of monthly subscription payments instead of upfront payments (every 12, 24 or 36 months), leading to upselling opportunities and significantly improved margins.
- Reduction in customer churn rates due to monthly invoicing and recognition of brand.
- Economies of scale with client’s existing customer service centre acting as a sales channel for upselling opportunities.
- Reduction in the number of bad debts.
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