Founded in 2006, Easybook.com began as a pioneering platform for purchasing bus tickets in Malaysia and Singapore. Over the years, it has experienced rapid growth, evolving into the largest online booking platform in Southeast Asia for land and sea transportation services.
With a commitment to excellence, Easybook.com boasts over 3 million monthly customers within Southeast Asia and has successfully booked over 40 million trips. The platform has partnered with more than 1,000 operators, covering an extensive network of over 60,000 routes across Southeast Asia, making it the go-to choice for travellers seeking convenient and reliable transportation booking.
However, this growth brought challenges, particularly in managing global payments. Easybook.com regularly needed to pay overseas suppliers, such as transport service providers (bus, ferry, and train operators), as well as tour operators and travel agencies. Before partnering with SUNRATE, they faced several issues, including incurring high FX fees, and challenges with expense management and reconciliation.
Challenge 1: Paying overseas suppliers was expensive, with banks charging high FX fees
When paying overseas suppliers like bus, ferry and train operators, they relied on traditional banks, which charged hefty fees for business accounts, imposed high FX fees and telegraphic transfer charges. These fees increased costs and impacted their bottom line. Moreover, unclear bank charges resulted in it being difficult to predict total costs accurately. This lack of transparency resulted in inexact payments to providers, potentially disrupting business relationships.
Solution:
By partnering with SUNRATE, Easybook.com overcame these challenges by leveraging SUNRATE’s global interbank clearing and local networks, which helps bring down transactional costs. SUNRATE’s transparent fee structure and real-time dashboard also ensured transaction visibility, ensuring that Easybook.com could easily track payment statuses. This transparency and predictability improved cash flow management and strengthened supplier relationships by ensuring timely and accurate payments.
Challenge 2: Inefficient Payment Processes
Easybook.com needed to ensure that funds were transferred promptly to their service providers to efficiently secure tickets for their users. Previously, they used physical credit cards for online payments to transport service suppliers. This method made it difficult to manage spending and posed significant fraud risks. Additionally, the reconciliation process was cumbersome and time-consuming.
Overcoming this challenge was crucial for Easybook.com to streamline their payment needs and ensure seamless, yet secure payments.
Solution:
With a SUNRATE account, Easybook.com was able to easily issue customisable commercial cards through the SUNRATE platform, which provided a range of benefits. These cards offered enhanced security features and real-time fraud monitoring, significantly reducing the risk of unauthorised transactions.
Furthermore, the commercial cards came with customisable spending controls as well as detailed reporting with real-time transaction statements, catering to varying reconciliation needs. These features allowed Easybook.com to manage expenses more efficiently, control spending, and make swift, secure payments. The improved security and streamlined processes led to better financial management.
Challenge 3: Lack of dedicated support
Easybook.com faced difficulties in managing cross-border transactions that arose not only from the inefficiencies and rates that local banks offered, but also from the lack of dedicated support. Local banks often failed to provide timely assistance and clarification, causing operational delays, and financial uncertainties.
Solution:
With SUNRATE, each account is assigned a dedicated account manager, ensuring personalised and consistent support. This dedicated account manager is always available to provide clarification, share their expertise and resolve any issues promptly. As a result, Easybook.com experienced smoother transaction processes, reduced costs and enhanced operational efficiency. The dedicated support also enabled Easybook.com to focus more on their core business activities, confident that their financial transactions were being handled expertly.
"Working with SUNRATE has been a game-changer for us. Their solutions have allowed us to significantly save on unnecessary fees, improve our cash flow management, and streamlined our payment processes. The support we have received has been invaluable, ensuring that our transactions are handled expertly. We highly recommend SUNRATE to any business looking to improve their global payment operations." – Clive Chong, Account Executive at Easybook.com
Powered by SUNRATE’s expertise in global B2B payments, Easybook.com has successfully reduced fees, improved cash flow management, and streamlined their business payments. As a result, Easybook.com has achieved better profit margins through increased revenue and decreased payment costs, while also enhancing workflow productivity over the long term. SUNRATE empowers businesses to scale both locally and globally, open a SUNRATE account today or contact our sales team.
About SUNRATE
SUNRATE is an intelligent global payment and treasury management platform for businesses worldwide. Since its inception in 2016, SUNRATE is recognised as a leading solution provider and has enabled companies to operate and scale both locally and globally in 190+ countries and regions with its cutting-edge proprietary platform, extensive global network, and robust APIs.
With its global business headquarters in Singapore and offices in Hong Kong, Jakarta, London, and Shanghai, SUNRATE partners with the top global financial institutions, such as Citibank, Standard Chartered, Barclays, J.P. Morgan, and is the principal member of both Mastercard and Visa. To learn more about SUNRATE, visit https://www.sunrate.com/
About Easybook.com
Founded in 2006, Easybook.com began as a pioneering platform for purchasing bus tickets in Malaysia and Singapore. Over the years, it has experienced rapid growth, evolving into the largest online booking platform in Southeast Asia for land and sea transportation services.
With a commitment to excellence, Easybook.com boasts over 3 million monthly customers within Southeast Asia and has successfully booked over 40 million trips. The platform has partnered with more than 1,000 operators, covering an extensive network of over 60,000 routes across Southeast Asia, making it the go-to choice for travellers seeking convenient and reliable transportation booking.
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