Our world is expanding massively with the help of the internet and with its wise use, we can grow our business locally as well as globally. This is even more true since after COVID-19, people, especially employees and employers have started preferring remote jobs.
The usage of Software as a Service (SaaS) has increased exponentially and various SaaS companies all over the globe are working with corporates for their upliftment. One of them is Applatus Technologies.
The company provides its IT services to major clients internationally and has been facing problems with their overseas payments. They were looking for an effective, instant, and cheaper solution and that’s when they found BRISKPE to their rescue.
Company Background
Applatus Technologies is an Indore-based company that was started by Mr. Harshwardhan Patel in the year 2020. Mr. Harshawardhan’s area of expertise is to develop mobile applications, web applications, and softwares for administrative tasks. Before starting the business, he had an experience of 8+ years in the same industry.
His business has grown exponentially after the COVID period since people nowadays prefer to work remotely or in a hybrid manner. After four years of running the business, he is now working with clients from countries like the United States of America, United Kingdom, Australia, and Canada.
Challenges faced by Applatus Technologies
Providing IT service internationally has become easier, but the market has become more crowded than before. Thus, there have been many challenges faced by the company but some of the major problems they faced were with-
- Late payments
International payments take at least a week to get reflected on the recipient’s account. This delay in payment causes major problems in maintaining the cashflow of the business.
- Low conversion rates
One of the problems faced by Mr. Harshwardhan was the low conversion rate provided to him by banks and other platforms. And since his business is spread out in different countries, a low conversion rate caused a decrease in profits for his company.
- High transaction fees
Unlike BRISKPE, banks and other platforms charge high transaction fees for both the payee and the payer. Low conversion rates with higher transaction fees created a huge problem in terms of profits. It also became difficult for the company to stand out in the international IT service market.
- Difficulty faced by bank payments
Mr. Harshwardhan was highly dependent on banks for his international payments, which according to him were lengthy, complicated, and non-transparent. He also tried using other payment platforms where he found the transaction fees and conversion rates to be high and low respectively.
How did BRISKPE help Applatus Technologies with their international payments?
To solve these issues of international payments and maximise their profit, Mr. Harshwardhan Patel connected with BRISKPE. He started using BRISKPE from January 2024 and here’s how it has helped him streamline his international payments process and grow the business on a global scale.
- Faster transactions
The major problem for Applatus Technologies was with late payments, which BRISKPE solved. The funds are now settled in T+1 days i.e., now they are receiving their payments in less than 48 hours. In his words, “compared to banks, BRISKPE is very quick and much easier”.
- Get payment from any country
Since Applatus Technologies is working with various clients around the globe, the payment is also in several currencies. BRISKPE provides its services for 6+ currencies including USD, CAD, and AUD. Hence, getting payments directly in INR has become extremely easy for them.
- Easy accessibility with an app
The convenience of the mobile app is what sets BRISKPE apart for Mr. Harshwardhan. He can do all the required prerequisites to receive his payments on the mobile app such as getting notifications, uploading invoices, and much more under one roof.
Impact on their business
Mr. Harshwardhan started with smaller transactions on the app and after gaining trust he has now completely shifted to BRISKPE and has been using it for the past 8 months (and counting).
His exact words were, “The rates you all are giving are the best, no one is giving at such good rates”. His interest in leveraging the BRISKPE app for accounting and taxation for his business also motivates the team to work towards an innovative fintech future.
Winding-up
As a new-aged fintech company, the vision is to help businesses and individuals save their money via international payments. BRISKPE is working towards creating an impact on the global payment market with its affordable, and cost-effective payment services.
If you’re also a small-medium enterprise (SME), solopreneur, or freelancer exploring different platforms to get the most benefits with less transaction charges, give BRISKPE a try.
