Hero Payments Saved IDA Approx. 3,600,000 DKK annually
Before using Hero Payments, IDA was losing approximately 50% of their members who hadn’t renewed their subscription, circa 1,500 members, due to nonpayment of invoices. This resulted in an approximate loss of kr. 5,400,000 – annually. The method they used was to manually send mails of the members’ invoices if they had not paid on time after calling them via Hero Outbound, and this was something they spent a lot of time on.
In addition, once the invoice was sent, they also didn’t have the opportunity to see if the invoices were paid until after they posted. They were looking for an easy, reliable, secure system to improve these numbers and to provide the necessary payment follow-up, which Hero Payments now provides.
There are 4 main benefits that Hero Payments provides to IDA:
- They “saved” nearly 1000 members more than they usually do, approx. kr. 3,600,000 annually.
- The implementation of Payments has reduced cancellations by 2/3
- Minimized the time spent on sending invoices – now they manage 95% of cases over MobilePay
- Enabled them to effectively monitor paid invoices and efficiently follow up on unpaid invoices