The Challenge
Prior to onboarding Access PaySuite two years ago, Experiences by Wembley faced significant financial challenges. The existing payment processes were inefficient, leading to delays and complications in collecting membership fees. Before implementing Access PaySuite, the organisation relied on manual invoicing and bank transfers, with no Direct Debit or Pay by Link options available. This approach was cumbersome and resulted in inconsistent cash flow.
We had huge debt issues going back three years ago when I first joined the team. We needed to implement a system that allowed us to offer more payment flexibility and reduce our debt quickly.
To address these challenges, Experiences by Wembley recognised the need for a robust solution that could:
- Offer more flexible payment options to members
- Enhance cash flow management
- Reduce financial risk
- Streamline payment collection processes
Solution
Experiences by Wembley implemented Access PaySuite to offer their members flexible payment options through Pay by Link and Direct Debit.
This solution allowed members to pay for seats or boxes in installments, reducing upfront payment burdens and improving the organisation's cash flow.
We introduced Pay by Link for one-off payments and Direct Debit for more structured, long-term payments and payment plans. This combination has been instrumental in stabilising our finances and providing our members with the flexibility they need.
The decision to choose Access PaySuite came after a thorough vendor selection process, during which 4-5 potential providers were evaluated. Access PaySuite distinguished itself through the strong rapport established with their representative, who demonstrated exceptional helpfulness and provided a comprehensive presentation.
“The implementation of Pay by Link for debit or credit card payments and Direct Debit for flexible payment plans has been transformative for our organization.” - Najam Israr, Senior Financial Operations Manager at Experiences by Wembley.
Results
The implementation of Access PaySuite's payment solutions has had a transformative impact on Experiences by Wembley's financial performance. Over a 2-year investment period, the organisation has generated an impressive £5 million in total revenue.
This success is particularly remarkable given the modest initial outlay. The return on investment has been extraordinary, demonstrating the efficiency and effectiveness of the Direct Debit and Pay By Link solutions provided by Access PaySuite.
Introducing Direct Debit and Pay By Link through Access PaySuite has been a game-changer for us. Over two years, we've generated £5 million in total revenue, resulting in an astounding ROI of 49,900%. The return has been nothing short of phenomenal, completely transforming our financial landscape.
Customer Experience and Operational Efficiency
The partnership with Access PaySuite has not only improved financial outcomes but also enhanced the overall customer experience. The solution has allowed Experiences by Wembley to provide members with more manageable payment options, leading to higher satisfaction and loyalty.
"The response rate from Access PaySuite’s support team is fantastic—within 24 hours, if not less. Their customer service, combined with the quarterly meetings we have for updates, has made a huge difference in our operations." - Najam Israr, Senior Financial Operations Manager, Experiences by Wembley
Future Plans
The ongoing success of the Direct Debit system has led Experiences by Wembley's management team to explore further expanding its use among their membership base.
This initiative is expected to enhance financial stability and provide greater flexibility to members, particularly in today’s challenging economic climate.
Conclusion
The partnership with Access PaySuite has been transformative for Experiences by Wembley. The integration of flexible payment options has not only resolved previous financial challenges but has also positioned the organisation for continued growth and success. As Experiences by Wembley continues to enhance its payment systems, the collaboration with Access PaySuite remains a critical component of their strategy.
Interested in learning more?
Contact us to see how Access PaySuite can revolutionise your payment systems and drive financial growth.