500% YoY partner payments growth

Industries: SaaS, Software, Channel Marketing

Founded: 2011

Company Size: 11 - 50 employees

Highlights

•  Serving more than 100 corporate customers & 50,000 channel partners
•  Improved end-user experience
•  Enhanced client retention
•  Lower operational costs
•  Enabled MDF payments, a new widely adopted service

Background

Channel Mechanics is an Enterprise Software as a Service (SaaS) provider that has developed a suite of Channel Incentive Program Management (CIPM) Solutions to help vendors manage and maximize sales through their channel.

The Challenge

As a leading SaaS channel automation solution provider, Channel Mechanics wanted to offer an improved payment experience for its CIPM platform and client portfolio featuring:

•  A white labeled experience within Channel Mechanics platform to manage
  • Funding from Client source
  • Paying out to Partner Companies and Partners’ Reps
  • Taking advantage of revenue opportunity with the ability to process customers Rebates, Incentives and MDF program payments from within Channel Mechanics

•  Global capabilities
  • Instant payments through multi-currency, digital wallet architecture so recipients are happier
  • Tax management for recipients receiving their channel incentive payments
  • Regulatory compliance

•  Simple onboarding process and frictionless payments

Solution

Channel Mechanics integrated XTRM’s Intelligent Payments Platform, Wallet and APIs to offer their customers and advocates a branded payment experience within their platform

• Channel Mechanics branded experience powers both sending and receiving payments globally.
• Customers can now send payments to their channel partners simply by loading their wallet and paying out to partners, instantly.
• Partners can access their funds in the Channel Mechanics branded wallet and withdraw money in their chosen method: Bank Transfer, Prepaid Visa, Gift Card, or check.
• The white-labelled wallet also allows Channel Mechanics customers control and the ability to handle all payments to their partners from a centralized point.
• Partners can convert funds into their local currencies’ all within the XTRM white-labeled Channel Mechanics platform and transfer globally.

Result

Channel Mechanics are now seamlessly using the XTRM payments functionality across a number of global customers to make payments to thousands of partners worldwide.

• More than 50 business customers use the Channel Mechanics payment functionality powered by XTRM to pay 50,000+ Partners annually.
• Over the past 12 months Channel Mechanics has seen more than a 500% increase in partner payments pass through its platform due in no small part to the simplified payment platform.