Lesslie is streamlining processes and minimising costs for Maze Interior
"The collaboration with Lesslie has clarified a lot about our international payments and made us understand that we had 'hidden' currency exchange fees, as well as realising that the workflows with the banks were more complicated than they needed to be."
Lesslie Pay has identified opportunities for improvement in the management of Maze's accounting for international payments.
Lesslie helped Maze realise significant savings on their cross-border payments by reducing the currency exchange fees by 30%, resulting in substantial cost reductions for the company.
Maze Interior, a prominent player in the furniture and interior design industry since 2003, has built its brand around locally produced products and Nordic design, with a focus on quality and sustainability. Since 2021, Maze also owns the lighting brand Pilke lights, and the 'Bill' collection is one of Maze's largest collections. Their revenue reached a total of 34 million SEK last year, and moving forward, the company aims to focus on larger furniture pieces and expand sales towards hotels, restaurants, and even offices. Today, Maze Interior encompasses two brands under one umbrella, both of which have international renown and distinct, powerful identities.
- Industry: Furniture - Lighting - Interior Design
- Year of establishment: 2003
- Revenue 2022: 34 million SEK
- Number of Employees: 9
- Market: International
"The collaboration with Lesslie has clarified a lot about our international payments, making us understand that we had 'hidden' currency exchange fees, as well as realizing that the workflows with the banks were more complicated than they needed to be. With their platform, but also their commitment to ensuring that we actually extract the maximum value from the collaboration, we have streamlined the work processes while significantly reducing the currency exchange costs. This is directly reflected in the bottom line."
- Christian Resell, CEO of Maze Interior
Maze's challenge with international payments
Despite Maze's impressive sales last year, they, like many other companies, are feeling the effects of the economic climate. Their strong global presence means they are influenced by the current economic conditions. This situation has led to the identification of the costs associated with international payments as a significant burden for them.
For a company with a prominent sustainability profile, it's only natural to strive for both efficiency and long-term sustainability. Additionally, Maze realised that the inefficient and manual accounting process related to international payments didn't align with their overarching vision and values regarding sustainable practices. Unfortunately, there hasn't been time to explore new ways to streamline the workflow.
By introducing Lesslie Pay, they have managed to reduce the company's costs for exchange rates and transactions, while also identifying further potential improvements in the management process, which is indeed a significant step forward.
The goal was to reduce their currency exchange and transaction fees associated with international payments. We have achieved exceptional results by lowering their currency exchange fees by 30%, resulting in savings of six figures. These savings can now be converted into investments in better resources for the company's ongoing development. Even today, Maze continues to manage their international payments through Lesslie Pay and is highly satisfied with the accommodating service, cost savings, and additional opportunities that we have been able to provide them.
"Lesslie Pay was an 'aha' moment for us. Their technology has truly simplified our international accounting. We have been liberated from inefficiency and high costs, and can now fully focus on our future."
- Hanna Kalzén, CFO at Maze Interior.