Published on
May 17, 2024

PT Intralab Ekatama Maximises Savings and Enhances Productivity with Wallex

min read

The Background

Established in 1995, PT Intralab Ekatama operates as a distributor specialising in laboratory chemicals, equipment, and supplies.

Serving industries in the Life Sciences, Pharmaceuticals, Food and Beverages, Agriculture, and Chemical sectors, the company provides a range of products tailored for research and quality control purposes.

Previously relying on conventional banks to facilitate their transactions proved to be inefficient due to the inconvenience of travelling down to the bank physically and the lengthy processing time that ensued.

🔑 Read More: Inside Look: Businesses Who Transformed Their Cross-Border Payments Experience With Wallex

The Challenge

When assessing their payments solutions using conventional local banks, Intralab Ekatama identified key challenges that was inhibiting the business from optimising their processes.

Hidden transaction fees

Traditional banks in Indonesia impose a range of fees on international transactions, which can significantly burden customers.

Typically, customers are subject to a fixed service fee averaging USD 25 per transaction, in addition to a transaction fee of up to IDR 50,000. Furthermore, certain banks apply percentage-based fees, where the cost escalates with the transaction value.

This results in considerable administrative costs and provision fees, particularly problematic for businesses engaging in high-value and frequent cross-border payments each month.

Time consuming bank visits

Frequent in-person visits to the bank in order to facilitate cross-border transactions posed a significant opportunity cost for Intralab Ekatama’s team.

Each visit entailed not only the time spent travelling to and from the bank but also the lengthy wait time in queues and processing time for the transaction to go through.

This diversion of attention and resources away from core activities directly impacted productivity.

🔑 Read More: La Cosecha Maintains A Healthy Cash Flow With Wallex

Unpredictable currency fluctuations

The Indonesian Rupiah ranks among the most volatile currencies globally, presenting a significant challenge for companies like Intrama Ekatama that engages in frequent high-value vendor payments. Converting IDR to GBP, INR, and MYR on a regular basis exposes them to significant foreign exchange (FX) volatility.

These fluctuations not only impact companies' cash flow but also disrupt productivity, necessitating constant monitoring and management to mitigate potential risks.

The #SwitchtoWallex

These challenges underscored the need to source for a more convenient and time-efficient solution for Intralab Ekatama’s cross-border payment needs. The following includes a glimpse of the considerations behind why Intralab Ekatama made the strategic decision to switch to Wallex.

Transparency of costs and information

The comprehensive information provided, particularly in terms of the transparency of the transaction fees gave Intralab Ekatama the assurance needed that they could streamline their cross-border payment processes effectively with Wallex.

Competitive FX rates

The favourable exchange rates provided by Wallex played a pivotal role in Intralab Ekatama's choice, ensuring cost-effectiveness and enhancing their overall cross-border payment experience.

Exceptional support from initial touchpoint

From the onset of the customer journey, Intralab Ekatama received exceptional support at each touchpoint, demonstrated through the comprehensive information, timely assistance, and proactive service support.

🔑 Read More: Marugame Udon Indonesia Delivers Higher Efficiency in Their International Operations with Wallex Accounts

The Result

Up to 2-3 hours saved per cross-border payment

What was once a 2-3 hours round trip to the bank to initiate the cross-border transaction in-person, has now become an instant process without any delays.

Intralab Ekatama managed to boost productivity by eliminating this inefficiency that drew manpower and resources away from the core activities.

Instant access to a secure transaction platform

With beneficiary details securely saved, Intralab Ekatama gained seamless accessibility to a streamlined and hassle-free payment process.

This greatly reduced the administrative burden and significantly contributed to enhancing operational efficiency and responsiveness.

Highly competitive FX rates

By securing favourable exchange rates, Intralab Ekatama achieved substantial cost savings on their international transactions.

This competitive edge bolstered their financial stability and competitiveness in the market.

Excellent support from AMs

Here is a customer testimonial from Mr. Budy Sulistriono, Owner of PT Intralab Ekatama:

“Our Account Manager, Edwin, has always provided excellent service and unparalleled support whenever needed.”

Experience the Wallex Difference

Wallex is recognised as a leading and secure payments solution tailored for businesses across industries. Trusted by companies of all sizes, Wallex facilitates seamless international payments in 46 currencies, spanning over 180 countries.

Our platform empowers customers to efficiently plan, manage, and hedge their FX needs, all through a secure interface, ensuring peace of mind during each cross-border transaction.

Embracing a forward-thinking approach, top-tier companies such as Investree, Style Theory, CodaPay, Ismaya Group, Marugame Udon, and 40,000+ customers in Asia have made the switch to Wallex, collectively trusting us with over SGD $10 billion in customer funds to transfer across borders.

To explore how Wallex can elevate your business's cross-border payment experience, speak to us today!

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