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How Tos Tips

The Ultimate Checklist To Get You Started With Curlec

For some, setting up your payment system can be as easy as popping a checkout button on your site and calling it a day.


For smart business owners, however, taking full control of the entire payment process is definitely the way to go to not only ensure that they provide a seamless payment process for their customers, but also a smarter solution that can help improve their cash flow significantly.


So, if you are a business owner who has just signed up to Curlec, but are not sure where or how to begin, we have come up with the ultimate checklist to get you started with Curlec’s Direct Debit solution in just 3 easy steps.

 

Deciding On Your Billing Process

Whether you are selling subscription packages or one-off products, the best way to get things rolling is to choose the simplest way possible to process your payments. A method that not only simplifies your workflow, but also provides a straightforward process for customers to complete the payment value chain.


Here are 3 things you will need to consider when structuring your billing tactics:


Sign Up Method – May it be in-store or online, establishing your onboarding method determines where and how your customers sign up. With our web-based application, your customers can make purchases in-store at the point of sale, or have them sign up directly through your website using Curlec’s powerful API. Our system provides an easy solution for customers to authorise their eMandates from wherever they are.


Billing Cycle – Unlike any other payment methods, Direct Debit works great for businesses that charge varying amounts depending on how much a customer uses or buys. You have the ability to customise the amount, date, frequency and duration of payments according to your business model. This means that whether you bill your customers just once a month or everyday of the month, we provide the flexibility to do this!


Dealing with Failed Transactions – Concerned with failed payments? With the Curlec dashboard, you can now get real-time notifications of failed transactions as well as being able to automate collection retries. Additionally, we offer additional payments options such as our Instant Pay (FPX) feature to improve your collection rates.

Determining Your Roll Out Plan

It turns out, timing really is important. But that’s not the only thing that gets your payments going. Even the best possible payment solution can quickly turn disastrous if no proper adoption process is being implemented.


Here are a couple of things you will need to make clear when designing your roll out plan:


Notifying your clients – Identifying key communication strategies to go along with the launch of Curlec will ensure you maximise your adoption rates from the very beginning. The best possible way to do this is to launch your system in phases and communicate this to your clients throughout. Start with the group of people you know are most likely to adopt and succeed, before venturing with the groups who are less open to change.


Getting your team aligned – Most of the time, the difference between a successful and failed adoption is having a great team that works well together for implementation. Always remember that communication works both ways. Make the team feel they are part of the decision making process by giving them a chance to provide feedback and concerns regarding the new system.


There’s more to prepping the team than just having a single training session.

  • Announce the changes in advance, preferably weeks or months before to get them ready.
  • Take advantage of the resources provided by hosting ongoing training sessions to keep the teams engaged and familiarise themselves with the system.
  • Evaluate your roll out success at different intervals as you go forward by consistently following up with the team to ensure everyone is onboard with the process.

 

Encourage Your Customers To Use Direct Debit

With Curlec, Direct Debit doesn’t just benefit your business, it also brings a whole host of advantages to your customers too. Advantages that ultimately, add to the quality of services that you are delivering.


Mention your payment options from the start – Talk openly about your payment methods to set clear expectations that Direct Debit is the preferred payment channel.


Explain how easy it is to sign up with Curlec – Show customers how easy it is to set up their payment with Curlec. By highlighting key benefits of using Direct Debit to customers, you are offering them peace of mind that builds an element of trust for your business.


Incentivise the switch – The truth is using Direct Debit brings a whole host of cost, time and admin savings to your business. You may pass on some of these savings to your customers and encourage them to start using Direct Debit ASAP. This can be:

  • Discounted monthly fees
  • Waiving any upfront fees
  • A gift for those paying by Direct Debit!

If you haven’t checked out our previous article on how you can further encourage customers to move to Direct Debit, you can brush up on your knowledge here.


Eager to get started on your very own Direct Debit solution with Curlec? Get in touch with us today by filling up the form below, and we’ll help you boost your business with the right roll out plan!

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Case Studies

Powered By Curlec: Union Strength

Curlec has enabled us to create a better payment experience for our members with faster payouts and flexible payment options to cater to our packages, resulting in a 40% increase in our collection rates since last year.”
Carlos Villa,
Founder of Union Strength.

Founded in 2017, Union Strength was established with a mission to provide a community of like-minded gym goers a space where they could truly focus on strength and conditioning. Through its personal training, group HIIT and mobility classes, the gym is working towards its vision in playing a huge part to help Malaysians get fitter.

 

The Challenge

As a newcomer in the scene with no prior experience working with any other payment platforms, Union Strength needed a payment solution that not only provides better recurring payment experience to cater to the different subscription packages for its customers, but to also remove any concerns with high cost, high failed transactions as well as lack of customer support seen in other payment providers.

 

The Solution

Taking away the admin work associated with their recurring payment collection, Union Strength’s partnership with Curlec has enabled the gym to see a 40% increase in their collection rates since last year. Thus, creating faster payouts and flexible payment options to cater to different membership packages, resulting in better payment experience for its gym members.

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Case Studies

Powered By Curlec: Mahzan Sulaiman

As a proponent of technology, our partnership with Curlec has improved our cash flow, shorten our debtor days, as well as automating our workflow to become more efficient.”
Mahathir Mahzan,
Founding & Managing Partner of Mahzan Sulaiman

Launched as a tech-savvy firm of professionals driven to help SMEs achieve their strategic and financial goals, Mahzan Sulaiman aims to provide financial freedom and independence for business owners and stakeholders alike through its core services, which includes #businessimprovement #globalserviceoutsourcing #cloudtechnology and #charteredaccounts.

 

The Challenge

Prior to the partnership with Curlec, Mahzan Sulaiman utilised traditional and manual methods such as bank transfers and cheques to collect its monthly payments, which resulted in spending half of the time sending out reminders for overdue invoices and chasing for collections.


With high receivable days (> 150 days) as well as numerous overdue payments that strapped their cash flow significantly, the team needed a system that was efficient enough to remove any concerns and provide the automation that is needed to run the business.

 

The Solution

With the help of Curlec’s Direct Debit solution, Mahzan Sulaiman is now letting outstanding invoices be a thing of the past by streamlining and automating its processes, that not only syncs well within the company itself but also with the client’s cloud accounting processes, welcoming a future of carefree payment solution that significantly improves on its cash flow, shorten their debtor days as well as automating their workflow to become more efficient.

 

 

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Case Studies

Powered By Curlec: RentGuard

“Through its data tracking and recurring payment reporting system, Curlec has enabled us to double our revenue growth by turning payments into our competitive advantage.”
Jeff Tan,
Co-Founder & CEO of RentGuard

Launched as the first online rental collection system in Malaysia, RentGuard is a property technology startup that aims to digitise property operations by providing a fast and secure platform for both Agencies and Landlords to tackle its business and investments such as Agency Business Process Management, Rental Collection, Tenant Profile Screening as well as Ageing Report.

 

The Challenge

Since launching in 2016, the team behind RentGuard discovered pretty quickly that the other payment gateways that were utilised not only came with high fees, but also tremendously lack in the systematic integration needed to link the various banks used by their customers.

“We knew that we had to find a different solution to give us the reliability that we needed, and this is where our partnership with Curlec comes in,” says Jeff.
The Solution

RentGuard has now doubled their monthly revenue growth by turning payments into their competitive advantage.

Utilising Curlec’s data tracking and recurring payment reporting capabilities, RentGuard is now able to grow their business by offering Property Agents and Landlords a completely automated solution for rental collection.

Jeff adds: “I can definitely say that Curlec’s Direct Debit was the key that made it possible for us to launch the first ever rental collection tech system in Malaysia.”
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Case Studies

Powered By Curlec: Funding Societies Malaysia

“We are now able to open up an additional repayment option to our clients which is automated, resulting in increased customer efficiency and shortened processing time.”
Wong Kah Meng, Co-Founder & CEO of
Funding Societies Malaysia

As the first and largest peer-to-peer (P2P) financing platform in Malaysia, Funding Societies connect creditworthy SMEs with investors through an online marketplace that increases access to financing for SMEs.


Being an alternative financing option that is gaining traction in recent years, Funding Societies help bridge the funding gap by providing an attractive alternative source of capital for local SMEs alike to fund business expansions and meet other financial requirements.

The Challenge

As an investment platform, Funding Societies processes high volume of deposits from investors as well as repayments from SMEs on a regular basis. And due to its operational complexities, processing and reconciling both investments and repayments proved to be a cumbersome task.


On one hand, the team was required to pair each deposit transaction from investors manually, making it an unpleasant experience for investors as it takes approximately 1-2 days for the funds to be reflected in the account. At the same time, the company was also facing late repayments from SMEs, as well as processing tedious cheque payments – hence, the need to manually verify the proof of payment from the issuers, which proves to be both labour intensive and time consuming.

 

The Solution

Curlec has worked with Funding Societies to implement a payment solution that not only help to streamline the processes, but also optimise their payments by expanding their business through a fast and simple online process.


For investors, they can now make real-time deposit immediately in their Funding Societies account without needing to send in their bank-in slip through Curlec’s Instant Pay (FPX).


And as for SMEs, they can now opt for Curlec’s Direct Debit solution as a repayment option that will automate their payments, resulting in increased customer efficiency and shortened processing time.


Taking control of payments with Curlec’s Direct Debit and FPX solutions, Funding Societies is now staying one step ahead by offering additional payment and repayment options for both investors and SME’s, as well as automating these processes to finally further empower Malaysian SMEs both strategically and economically.

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Life at Curlec

Michelle Lim: Building The Best Direct Debit Experience Through Customer Success Management

While this particular job goes by many names across the board, Customer Success is becoming one of the most important transformative aspects of growth for all types of businesses today. We can no longer talk about Customer Success as a separate function within the business, but ultimately, a driving force to the way we do business.


Fully strategised to maximise customer and business sustainability by optimising its efforts, Curlec’s Customer Success team is constantly evolving to find effective ways to manage our clients, as well as making them as successful as possible when using our services.


We sat down with Curlec’s Head of Customer Success, Michelle Lim to discuss her role, as well as how she is helping businesses, big and small to derive value from their partnership with Curlec.

 

What is Customer Success, and why does it matter?

As its name implies, Customer Success is focused on working proactively in partnership with clients and customers to drive the client experience forward and ensure a successful flourishing partnership in the future.


As the Head of the Customer Success team here at Curlec, I make sure we help our clients get the most out of their experience with us by delivering value throughout every step of the customer journey. And we work closely with our product and development team to do so, that includes designing programs for client onboarding, product training, as well as customer service and support.


My main role here is to help merchants to quickly master our system, and of course, to advise them on how they could leverage our system to reach their goals and untapped potential. We do this by custom designing the client program, encourage high-value feature adoption as well as provide on-going value driven engagement with the clients accordingly.



You have dealt with numerous clients at Curlec, ranging from SMEs, Enterprises and Big Corporations alike. What are some of the distinctive differences you see when handling these cases in terms of Customer Success Management?

The portfolio of clients I have served includes businesses from different industries, may it be Fitness, Professional Services, Financial Services, Property, Education and etc.


And based on my experience, the definition of a payment solution provider for these businesses can be very broad. Different companies will need different requirements and solutions when it comes to billing and collection cycles.


Identifying their payment pain points as well as providing the best solution are parts of what I do on a daily basis. Some will require payments in the forms of weekly or monthly recurring payments, a few would opt for one-off payments, and in some cases, clients will need to include instalment plans as well, which we can assist with to fit their needs accordingly.


However, the engagement goal has always remained the same – to overcome the traditional payment barriers such as expensive cost, error-prone and time consuming processes that are associated ‘push’ payments, and replacing this with what we coined as ‘pull’ payments that will automate these processes so that the merchants can be in control of when they get paid.


What were some of the key challenges along the way?
Well, the way I see it, Direct Debit is still new in the Malaysian market. So the key challenge here is to educate the public on how the system works, and how it can be beneficial to not only big corporates and Enterprises, but also to SMEs.


Historically, the banks only served large corporations for this particular method. And now, with our resources, we are able to help the SME market, who never had the payment option available to them before, to access this particular method.


Our role in Customer Success is all about being proactive, as opposed to reactive. So, looking at it from that perspective, the main challenge that we face is to constantly work to figure out the ongoing efforts so that we can continue to deliver value to our clients and customers, as well as improve their payment processes using Curlec.


How do you measure success in your current role, and how do you keep yourself up to date on the changes in the industry?

As of date, we are now serving a diverse range of businesses in terms of size and industries. This includes more traditional brick and mortar businesses, such as gyms and tuition centres, to technology related businesses such as P2P financing platforms.


I measure success by looking at:

  • The ability to turn these new clients into long time partners
  • The ability to increase our client’s lifetime value
  • The ability to prioritise client issues and improve on their experience so that they fully leverage on our system to process their month-to-month collection

The key idea here is to be constantly learning. Utilising all the channels that are available to us such as industry news, having good connections with experts in the field who will be able to help you grow and advise you on how to improve in your craft.


Want to work with us? Our team come from a variety of backgrounds and we always welcome diversity – submit your applications today by visiting www.curlec.com/careers