Thriving in Travel: Harvest Holiday's Transformation with Wallex

The Background

CV Harvest Holiday Indonesia, founded in 2016, specialises in the tour and travel industry, offering customised tours across Asia. The distinguishing factor of the company is that it caters to individual travelers, and provides beauty tours that assist clients in finding reputable hospitals and clinics for treatments abroad.

As the business grew, the need for a reliable cross-border payment solution became clear, essential for facilitating transactions with international partners and ensuring exceptional service delivery to clients.

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

The Challenge

CV Harvest Holiday Indonesia initially utilized traditional remittance methods for their cross-border transactions. However, as the company aimed to scale its operations and enhance its service offerings, it became evident that the limitations of traditional remittance processes hindered their ability to efficiently manage payments to international partners and service providers.

In the process of sourcing for alternative solutions, Harvest Holiday connected with Wallex at the TTC Travel Mart International in Surabaya in 2023, and found the solutions offered to be a perfect fit for their needs.

Delays in payment processing

Harvest Holiday Indonesia faced significant delays in payment processing when using traditional banking methods. Transactions often took two days or more to complete, which hindered their ability to promptly pay international vendors and service providers.

The sluggish pace of transactions strained relationships with crucial partners, potentially jeopardising future collaboration and business opportunities.

No control over high transfer fees

Harvest Holiday struggled with high transfer fees imposed by local banks, which were often non-negotiable. These costs significantly impacted their bottom line, particularly when making frequent international payments.

Unfavourable currency conversion rates compounded the financial burden, making it challenging for the company to maintain competitive pricing for their travel packages. The inability to negotiate fees limited their financial flexibility and reduced the funds available for reinvestment into growth initiatives.

🔑 Read More: HMNS Boosts Savings and Operational Efficiency with Wallex

Unproductive allocation of resources

The cumbersome procedures associated with traditional remittance methods made the payment process inconvenient for Harvest Holiday. Engaging with local banks often involved lengthy commutes and waiting in line for 1-1.5 hours, which was not only inefficient but also unproductive.

This time-consuming process forced Harvest Holiday to allocate entire days for transferring funds, diverting focus from essential business operations such as marketing and customer engagement. The lack of a streamlined payment solution ultimately hindered their ability to scale effectively in a competitive market.

The #SwitchtoWallex

Let's explore the key changes that Harvest Holiday experienced after switching to Wallex. The switch not only addressed their previous challenges but also brought about significant improvements in their cross-border payment processes.

Here are the main areas of impact:

Convenience in executing cross-border transactions

Switching to Wallex has since eliminated the need to leave the office for vendor transactions. Payments can be initiated simply by messaging the Account Manager on WhatsApp, providing the amount, and allowing them to handle the calculations.

This newfound flexibility enhances operational agility, allowing Harvest Holiday to respond quickly to market demands and supplier needs. With that, they can maintain smooth operations and improve overall competitiveness in the travel industry.

Access to wide range of currencies

The diverse array of currencies supported, including exotic options like the Vietnamese Dong (VND) has been particularly beneficial for Harvest Holiday as it enables seamless transactions across various markets in the ASEAN region.

This capability is particularly beneficial for a company operating in the travel sector, where transactions often span multiple countries and currencies. The ability to conduct payments in various currencies without hassle simplifies financial management and reduces the complexities associated with currency conversion.

Exceptional customer support

The transition to Wallex was significantly enhanced by the exceptional customer support provided — from the rapid response times of Account Managers to the proactiveness displayed in offering guidance throughout the payment process.

The 24/7 access to customer support enabled Harvest Holiday a greater level of accessibility to resolve payment-related issues swiftly, minimising any disruptions to their operations.

‍

🔑 Read More: DermaPACK's Wallex Journey

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 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, visit www.wallex.asia to schedule a demo and unlock the full spectrum of benefits.

Connect with us today and experience the Wallex difference!