The needs of our customers come first for us in IONTO-COMED. Invoice payment in our webshop was a clear demand, and we’re happy to see that delivering on our clients’ wishes also translates into our business growth.
Julian La Fontaine, CEO of IONTO-COMED
90%
acceptance rate
21%
higher conversion rate
+25%
bigger basket size
About IONTO
For over 40 years, IONTO-COMED has been a leading cosmetics provider and partner of beauty institutes, hotel spas, and dermatologists alike. The company – based in Karlsruhe and Leipzig – employs nearly 200 people and is represented in 35 countries worldwide. Turnover is roughly €20-30 million, with most revenue in the DACH region coming from direct sales in the field and through its webshop. Over the years, IONTO-COMED has received numerous awards, most recently the European Health & Spa Award 2021.
The Challenge
B2B transactions are increasingly being made online – according to the 2021 World Supply Chain Finance Report, companies will make more than 50% of their purchases online by 2025. Meanwhile 95% of companies want invoice payment (i.e. Buy Now, Pay Later) as an option when buying online, which is the most popular payment method in B2B offline business. In IONTO-COMED’s webshop, this was previously only possible by request and entailed increased effort, costs, and risks. Their customers had to put up with a long waiting time before the order was shipped, negatively impacting conversion rate and sales in the webshop.
The Strategy
To meet the new demands of B2B e-commerce, Mondu’s Buy Now, Pay Later solution was implemented in IONTO-COMED’s online shop. The goal was to offer flexible payment methods to business customers, while also eliminating the associated default risks and operational overhead for IONTO-COMED.
The Results
Mondu’s Buy Now, Pay Later solution enabled IONTO-COMED to offer invoice payment with a 30-day payment term to every web shop customer. In doing so, Mondu covered the complete default risk and transferred the money after a few days, positively impacting IONTO-COMED’s cash flow.
Mondu replaced the outdated, manual, time-consuming credit check with one that takes place in real-time. This not only saved IONTO-COMED costs and resources, but also saved customers time and effort by providing immediate confirmation. The quick and easy process created a better shopping experience and directly impacted customer satisfaction, ultimately leading to higher conversion and more sales.
Already in the first month, the conversion rate on the IONTO-COMED web store went up by 21%, while basket sizes increased by 25%. With an acceptance rate of more than 90%. Buy Now, Pay Later from Mondu was well received by IONTO-COMED customers.
