Optimising Costs and Efficiency: Quantum Reservation’s Success with SUNRATE

Quantum Reservation is a leading B2B hotel aggregator that offers a comprehensive range of accommodation options to travel agencies, tour operators, and corporate clients. With a strong network of hotel partners worldwide, Quantum Reservation aims to provide seamless and cost-effective booking solutions.

Challenges: Before partnering with SUNRATE, Quantum Reservation faced several operational and financial challenges:

1. Inefficient payment management: The team encountered significant challenges in managing payments, particularly when expanding their offerings internationally. Reliance on personal credit cards for supplier payments led to several issues: budget management difficulties, lack of control over user access, and heightened risks of fraud and security breaches.
2. Escalating costs due to unfavourable FX Rates and high transactional fees: Quantum Reservation experienced escalating costs largely due to unfavourable foreign exchange rates and high transactional fees. Before engaging SUNRATE, the company relied on money changers for currency conversion and local banks for cross-border payments. This approach resulted in non-competitive FX rates which significantly increased the cost of international transactions. Additionally, the fees associated with cross-border payments were also substantially cutting into their profitability.
3. Unpredictable currency conversion fees: There were additional costs and unpredictability associated with currency conversion fees when using personal credit cards for payments. This unpredictability complicated accounting processes, making it challenging to accurately manage budgets.

Solutions Provided by SUNRATE: SUNRATE addressed these challenges by offering tailored solutions through virtual commercial cards, international payment services, and competitive FX rates:

1. Virtual Commercial Cards:

Enhanced Budget Management: The adoption of SUNRATE's virtual commercial cards enabled Quantum Reservation to streamline budget management and control user access, ensuring secure and efficient hotel payments. This increased operational efficiency by 55%.

Risk Mitigation: The use of virtual cards significantly reduced the risk of card information leakage. Enhanced security features and real-time fraud monitoring significantly reduced the risk of unauthorised transactions.

Flexible Currency Settlement: : SUNRATE's cards offer the settlement of card payments in over 15 major currencies, allowing the team to reduce foreign exchange conversion fees, and streamline accounting and financial reporting.

2. Global Payment Services and FX Solutions:

Competitive FX Rates: By leveraging SUNRATE's competitive FX rates, Quantum Reservation achieved significant cost savings compared to traditional money changers and banks, realising savings of up to 49%.

Efficient Cross-Border Payments: SUNRATE's global payment solutions facilitated smoother and more cost-effective cross-border transactions

Results: The partnership with SUNRATE has transformed Quantum Reservation's financial operations, resulting in:

• Cost Savings: A substantial reduction in FX costs and cross-border payment fees, achieving savings of up to 49%.
• Enhanced Security: Improved control and reduced risks associated with card payments.
• Operational Efficiency: Streamlined payment processes and flexible currency settlement, leading to better financial management and increased operational efficiency by 55%.

"SUNRATE's solutions have revolutionised our payment processes and financial management. Their virtual commercial cards and competitive FX rates have not only saved us money but also enhanced our operational efficiency and security. We highly recommend SUNRATE to any business looking to optimise their payment solutions." – Agnes Tong, General Manager at Quantum Reservation Pte Ltd

SUNRATE's innovative payment solutions have empowered Quantum Reservation to overcome their financial challenges and achieve greater efficiency and security. By leveraging SUNRATE's expertise, Quantum Reservation has achieved higher cost savings and enhanced productivity over the long term.

To get started and partner with a solutions provider that 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 Quantum Reservation

Quantum Reservation, established in 1993 and based in Singapore, is the largest supplier of worldwide hotel reservation services in Southeast Asia, serving travel agents globally through QuantumReservations.com. With access to over 10,000 hotels in more than 400 cities, we offer swift and reliable booking confirmations, often within minutes, especially for urgent requests. Beyond hotel reservations, we provide additional land services, including airport transfers and tour packages, through our travel arm, Renaissance Travel. Our mission is to deliver exceptional service and seamless travel solutions to our clients worldwide.