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Case Study
How Jack Helps Asta Save Their Cash Flow up to 4-5% from Billions of Transactions Every Month
However, relying on conventional banks for these transactions incurred high fees for Asta, not to mention the hidden fees that added as well to the overall cost. Luckily, Asta's situation improved significantly since utilizing Jack.
Outcomes Experienced by Asta After Utilizing Jack
5%
Savings on billions of company transactions per year
50%
Savings on company cash flow per year
Industry
Procurement Services
Product Used
Local Transfer
International Transfer
Corporate Card (Virtual)
Favorite Features
Easily issue an unlimited number of credit cards, even on the same day
Effortlessly set transaction limits for each credit card
Clear visibility into the expenditure history of each credit card
Highly competitive transaction fees compared to banks
Automated and centralized financial recording
"Thanks to Jack, we have successfully saved our cash flow by 4-5% from monthly transactions that are worth billions."
William Maha Putra, Co-founder & COO Asta
Background
PT. Asta Bumi Cipta (Asta) is a one-stop service provider for all procurement needs, ranging from financial coverage, corporate legality, and quality control for logistics. With the ecosystem built under PT. Asta Loka Korpora, Asta is engaging as an intermediary for suppliers and buyers in various multinational industries. Asta offers its procurement services in three services:
1. Quality Control: where the buyer needs a third party who can manage the flow of procurement and ensure that the process goes according to the buyer's expectations.
2. Financial Coverage: intermediary between buyers who want to pay on terms, and suppliers who expect cash on delivery.
3. Corporate Legality: connect buyers or vendors to big firms without legality concerns.
Throughout its journey, Asta understood the importance of streamlining their operating processes to increase efficiency. Challenges through the COVID-19 pandemic certainly reveal another understanding of the importance of streamlining for the long-term sustainability of the company.
Asta employed a special internal team to oversee and manage their operational systems. This team is responsible for all system usage from third-party services that help manage Asta's operations and the team that discovered Jack as well.
With Jack, all expenses made with virtual credit cards are stored in a transparent transaction history, making it easier to track the company's cash flow.
How Jack Helps Asta
Sneaky, Expensive Hidden Fee to Highly Competitive Fee
Asta handles a significant number of monthly transactions, and as the company grows, the volume of transactions keeps increasing. However, using traditional banks for these transactions comes with high costs, including hidden fees. Asta made the switch to Jack, which offers lower and transparent transaction fees. By using Jack, Asta can save 4-5% on their monthly operational expenses from transactions worth billions. This cost advantage applies not only to domestic transactions but also to international ones through Jack's International Transfer feature.
Complicated Operational to Centralized Cash Flow Management
Asta needs to monitor and manage their company's cash flow due to the high volume of monthly transactions. Previously, it was challenging to record and reconcile these transactions across different platforms. However, with Jack, all expenses made with virtual credit cards are stored in a transparent transaction history, making it easier to track the company's cash flow. Furthermore, Asta can issue unlimited Jack’s credit cards, enabling them to quickly adapt to their team's needs.
