Splashtastik sees 30-40% reduction in debtor days with Curlec.

Products used

Group 277 Payments

globe 1 Malaysia

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Introduction

Established in 2013, Splashtastik is a local swimming school offering a comprehensive range of swimming lessons specifically designed for babies, toddlers as well as children with special needs in a secure and controlled environment.

The challenge

Splashtastik’s subscription-based model relies on its monthly intake, which meant that collecting recurring payments from customers were done manually and involved a huge amount of admin work, consisting of keeping track of student lessons as well as notifying the parents when payments are due, all while maintaining both it’s existing and new customers at the same time.

In seeking to improve its operational efficiency with regards to late payments, Splashtastik needed a system that was efficient enough to remove any concerns for both credit risk as well as debt recovery, and this is where the partnership with Curlec comes into play.

The solution

Incorporating a Direct Debit solution designed specifically to handle recurring payments, Curlec has enabled Splashtastik to easily collect payments in addition to automating the processes that could help overcome involuntary churn to ensure that they maintain a long term relationship with their customers. It solves the issue by creating a seamless payment cycle for the customer as funds from his or her bank account would get automatically debited on each due date.

Not only does this help minimise overdue payments encountered by Splashtastik, but it also helped in reconciling unmatched payments, increased student retention, grew the conversion of long term students and encouraged newcomers to the program by automating these payment collections on a monthly basis.

“Curlec has provided us with an improved sales proposition, while giving us the benefit of collecting regular payments with minimal input.”

"We have seen a 30-40% reduction in our average collection period and improvements in cash flow as a result of taking payments using Curlec. We are now in control of our customer’s payments and cash flow.”

“This frictionless payment method has helped the parents to focus on the development of their children by providing a hassle-free payment experience. We believe that we have achieved this with Curlec.”

- Azmir Khalid, Founder of Splashtastik.

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