The needs of our customers come first for us in IONTO-COMED. Invoice payment in our online shop 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
IONTO-COMED has been a leading cosmetics provider and partner of beauty institutes, hotel spas, and dermatologists for over 40 years. The company 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 online shop. 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 online shop, this was previously only possible by request and entailed increased costs and risks. Their customers had to put up with long waiting times before orders were shipped, negatively impacting conversion rates and sales.
The Strategy
IONTO-COMED implemented Mondu’s Buy Now, Pay Later solution into their online shop to meet the new demands of B2B e-commerce. 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 online customer. In doing so, Mondu covered the default risk and transferred the money to IONTO-COMED after a few days, positively impacting the company’s cash flow.
Mondu also replaced the company's outdated, manual, and time-consuming credit check with one that takes place in real-time. This not only saved 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 conversions and more sales.
In the first month, IONTO-COMED's conversion rate went up by 21%, while basket sizes increased by 25%. The acceptance rate was more than 90%. Mondu's Buy Now, Pay Later solution was well received by IONTO-COMED customers.
