Client

Respax is a world-class tour management and reservations platform in the travel and tourism industry. Every year, Respax delivers industry-leading software to over 180 suppliers, including ASX listed companies, while managing bookings exceeding $500 million a year.

Technology that helps clients handle payments is a key part of Respax’s offer, supplying integrated payment gateways that allow accept online bookings and over the counter purchases. However, for many of Respax’s clients, direct bookings from customers made up less than 25% of their overall bookings. Respax needed a payment solution that would help their clients manage the 75% of bookings that came not from customers but from travel agents.

Problem

The travel and tourism industry is notorious for poor B2B payment practices. A typical company will have hundreds if not thousands of selling agents and have to manage high-volume, high-value invoices on different trading terms, via disparate systems – all manually. This results in average payment terms of 60+ days post travel, which puts huge strains on cash flow and leads to high default rates. Added to that is the high costs associated with manual reconciliation and processing.

SPLIT Travel Payments solutions provides the industry with a robust integrated B2B payment platform enabling seamless processing from online booking tools all the way to client file and bank reconciliation processes. If you’re using SPLIT to process your payments you belong the travel industries trusted trading hub, industry verified, payments are processed efficiently with less risk, less cost and more time to focus on what’s important running your business.

Client Name

Solution

Split automates even the most complex payment flows making it an ideal B2B payment solution. Respax integrated Split directly into their platform so suppliers could instantly automate their accounts receivable process. Suppliers simply signed up for a Split account, set up their trading terms in an agreement with their agent and were then able to instantly create payment requests at the point of booking directly with that agent. Split’s agreement function meant that suppliers could automate the varying due dates of the industry without having to renegotiate existing terms with agents. The result was hands-free payment management with significant reductions in processing costs and bad debtors.