Meet TREOO.com, Singapore's largest earphone and headphone online store.
Established in 2008, TREOO.com serves both casual customers and audiophiles alike. It is the authorised retailer for more than 5,000 products from over 250 audio brands online. TREOO.com is committed to creating a strong community of audiophiles and bringing more people together to appreciate music. With customer experience as a top-of-mind priority, the company constantly tailors its services to bring quick response time, flexibility and convenience to every customer.
As a company that aims to provide efficient and convenient services to its customers, TREOO.com searched for tools to strengthen their business operations. A critical component was to digitise and consolidate their payments, in order to streamline and increase accuracy in their accounts payables processes.
CardUp is a credit card enablement and automation platform that allows you to shift non-card payments to your credit cards. By doing so, you get your invoices paid on time while you extend your payment terms by up to 58 days, interest-free. Through CardUp's digitisation tools, you also can manage your payments seamlessly, streamline payables and monitor all payments on a singular dashboard.
After TREOO shifted their invoice payments onto CardUp, they saw a positive effect on time management and experience smoother business operations. They are now able to save time and cost as their payments are digitised. Their account payable processes can also be accessed more conveniently and quickly.
Their team appreciates being able to improve their payment processes at almost no cost due to the rewards that they earn.
Consolidation of all payables on one platform
TREOO.com enjoys the convenience of having all of their payments consolidated in one account. They can monitor all of their past and upcoming payments with ease on a single dashboard.
In addition, they utilised the team management feature to allocate customisable rights to view, edit and approve payments amongst their employees. These made payments a hassle-free process for the team, allowing the company to collaborate, and better track and manage expenses.
Improved supplier relationships
Not having sufficient cash flow to pay suppliers is no longer a worry for them. Their suppliers receive payments on time every month while TREOO only pays when their card bill is due a month later (or up to 2 months). In addition, with CardUp's automated payment system, they are also able to schedule these recurring payments.
Being able to deliver payments on time month-on-month improved their relationships with suppliers and added further negotiations on future payment terms.
Time saved to focus on business growth
CardUp’s digitised and automated solution helped reduce the manpower hours TREOO require to track and schedule payments. With the manpower hours saved, TREOO.com’s team finds themselves being able to focus more of their time on growing the business. They are also able to prioritise on other business operations such as sourcing for better products and improving customer experience.
How to conserve more cash during tough times using a credit card?
CardUp is committed to helping businesses emerge stronger and thrive better in the new normal. The ever-evolving pandemic situation has and will continue to put companies all around the world in unprecedented circumstances. For many businesses, meeting cash flow needs remains a top priority in order to stay afloat and emerge stronger from the pandemic.
For businesses such as TREOO.com, CardUp’s platform enables them to free up more cash on hand and optimise their working capital needs by leveraging one's pre-approved credit line.
CardUp’s Business Transformation Support provides lowered fees to support businesses better and manage working capital needs by freeing up more cash at a lower cost – making it a more cost-effective option compared to other financing options such as loans and overdrafts.
Learn more about how CardUp can bring more value to your business’s payment processes through its Business Transformation Support!