• Revamping payment and FX processes at new economy companies

  • Apr 17 2024
  • Length: 14 mins
  • Podcast
Revamping payment and FX processes at new economy companies By cover art

Revamping payment and FX processes at new economy companies

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  • Summary

  • Driven by a young and aspirational middle class, digital consumption and travel

    expenditures are booming in South-East Asia. A company that sits at the sweet

    spot of these two trends is Tiket.com, one of the fastest growing online travel

    agencies (OTA) in the world with more than 15 million app installations.

    Founded in 2011, the Indonesian new economy company now cooperates with 140

    airlines and 2.6 million accommodation providers.

    Yet, acting as an intermediary between different parties creates multiple challenges

    for the treasury function, explains Eddy Putra, Head of Treasury at Tiket.com. Given

    the nature of travel, where booking is usually done in advance and settlement

    to hotels is done only upon completion of travel, the company is exposed to FX

    risks. It also faces multiple recurring cross-border payments to overseas hotels

    which led to high fund transfer fees as well as manual processing.

    How did the company address these challenges in a workflow automation project with

    Deutsche Bank? Tune into the new flow InCorporateTreasury podcast and learn

    more about this award-winning solution!

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