Background

Invest Living Scandinavia AB, based in Oskarshamn, specialises in assisting its customers with end-to-end solutions for managing their own brand within indoor climate control. The company handles everything from brand management to import, technical support, and maintaining a stock of spare parts. Click on the video for an illustration of what the company does. 

"Has the manufacturer received the payment?" - A constant challenge

For Invest Living, managing their international payments has long been a challenge due to:

• Hidden currency exchange fees.
• Extended payment processing times.
• The lack of a clear overview of the money flow.

The company's CEO, Mattias, often struggled with a sense of worry and uncertainty regarding their cross-border payments, primarily because of the complex payment methods and the inadequate knowledge from their contact person at the bank. Mattias frequently found himself in lengthy phone queues to get answers to simple questions like "Has the manufacturer received the payment?" This was not only inefficient but also energy-draining.

"Now, we save several hundred thousand Swedish kronor per year."

Our goals for Invest Living were as follows:

• Reduce currency exchange and transaction fees.
• Achieve faster payment times.
• Provide a better and more secure real-time overview of the money flow.

Lesslie Pay has facilitated faster transactions for Invest Living, positively impacting their cross-border payments in several ways. Firstly, transaction times have been shortened. This change allows Invest Living to pay their suppliers at a faster pace, with lower fees and increased efficiency. They now have better control over their payments and can directly communicate with our support team, which has real-time insights into the whereabouts of the money. This has eliminated the need for long phone calls between Mattias and the bank. By achieving better control, faster responses, improved files, and data transparency, Invest Living has streamlined its workflow.

Secondly, the implementation of Lesslie Pay has enabled Invest Living to avoid previously hidden and high currency exchange and transaction fees for their international payments. This has directly boosted the company's profitability, with annual savings of several hundred thousand kronor on international payments.

In summary, Lesslie Pay has significantly improved Invest Living's financial efficiency through faster payments, better oversight, and cost-free transactions to China.