From complexity to simplicity: Tulpankungen chooses Lesslie Pay for managing its cross-border payments
Tulpankungen & Säljdirekt has modernised its accounting process for international payments with Lesslie Pay, leading to improved efficiency and cost reduction for the company.
Automation
Tulpankungen has integrated Lesslie Pay for automated accounting, which now saves time and eliminates manual data entry for the company.
Financial Savings
Lesslie Pay has been able to provide Tulip Corporation with a cost-free currency account and has reduced the company's exchange fees by 30%.
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When a School Trip Became a Business Idea
Tulpankungen Tulpankungen was founded by Mårten Karlberg in 2001 when students at a school wanted to earn extra money for their class trip by selling tulips. Since then, the company has evolved with a focus on helping school classes and associations in Sweden raise money by selling high-quality and in-demand products during different seasons. They have also expanded their product range to include delicacies such as saffron and parmesan cheese.
Tulpankungen values responsiveness, simplicity, care, and joy in their business, following the principle that "A customer is a friend." They strive to offer a hassle-free and positive experience for their customers. Mårten Karlberg passed the leadership to Jacob Sagmeister in 2022. Today, there are two concepts: Tulpankungen and Säljdirekt where the company manages the purchase of saffron and parmesan cheese.
”Our handling of cross-border payments has never been smoother, and as a significant bonus, it's incredibly cost-effective.”
- Jacob Sagmeister, CEO and owner of Tulpankungen
Key Results
Reduced need for manual input:
Automation has decreased and eliminated the requirement for manual data entry and paperwork, which was previously extremely time-consuming.
Real-time currency exchange
Automation enables real-time currency exchange, minimising the time previously spent on manually monitoring and managing exchange rates.
Reduced need for corrections:
Since automation reduces the risk of errors and inconsistencies, it also reduces the time previously spent on identifying and correcting inaccuracies.
Why is accounting for cross-border payments so complex and time-consuming?
Tulpankungen, like many companies involved in international trade, has faced challenges due to the intricate nature of this accounting process. The company has had to deal with multiple currencies, and the manual handling of accounting associated with their payments has proven to be a time-consuming task. The company has had to go through several manual steps for each transaction, including currency conversion and documentation. Furthermore, manual data entry has heightened the risk of errors in their operations. These errors can easily result in financial consequences. This complexity has required a significant amount of time and precision.
”It feels reassuring to outsource the accounting of our cross-border payments to Lesslie Pay.”
Tulpankungen was faced with the challenge of streamlining their essential yet less exciting financial tasks. That's when their path crossed with Lesslie Pay.
”With Lesslie Pay and automation, our business has taken a significant step forward.”
- Jacob Sagmeister, CEO and owner of Tulpankungen
Lesslie's goal was to enhance the management of Tulpankungens finances and the payment flows associated with their international transactions. Through a seamless integration with the Fortnox business system, Jacob and his team now have the opportunity to fully concentrate on and streamline their core operations.
Lesslie Pay has provided the company with an improved overview of accounts payable and a free one multi-currency account. Automation saves time, reduces costs by lowering exchange and transaction fees, and increases accuracy. This has enabled Tulpankungen and its team to focus on growth and innovation rather than administrative tasks.
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