POM: Helping overcome invoice frustrations
POM optimizes the invoicing process for both sides of the market: the party sending the invoice and the recipient. With POM's invoice payment services, businesses can significantly reduce their collection costs and speed up their receivables. At the same time, their customers enjoy POM's optimal payment experience in a multichannel environment (email, mobile, messaging and paper).
POM's customers operate in a wide range of sectors, from energy companies to public institutions. POM's mission is to eliminate the wasted time and effort spent on inefficient systems, freeing up space for the more important things in life. That's why POM stands for Peace Of Mind. POM is based in Antwerp, Belgium, and was founded in 2014.
"70% of recipients pay within 10 days, and 40% of them pay immediately."
Johannes Vermeire, CEO at POM
The challenge
Because POM operates in a two-sided market, it faces the challenge of convincing both businesses and consumers to start using its payment solutions. Thanks to a handful of early adopters, POM can now give businesses compelling reasons to choose POM.
To convince end users to pay via POM, winning their trust is crucial. That's why POM provides its customers with marketing and communication materials to clearly explain the benefits of POM to their own customers.
Growth in customer adoption
All of our customers have been able to speed up their incoming payments since introducing POM. The actual impact depends on the sector, but on average we see that 70% of those who pay via POM pay their invoice within 10 days of receiving it. 40% of them pay immediately (on the same day they receive the invoice).
In terms of adoption, we see the share of customers paying via POM increase every month (with growth rates of up to 10% per month in the first year after POM is introduced).
Strong partnership with Buckaroo
"Our partnership with Buckaroo allows us to serve our customers better and respond to their changing needs. Thanks to Buckaroo, paying via POM has become easier, faster and more secure. On top of that, Buckaroo's flexible mindset fits well with POM's mission to help remove frustrations around invoices and make the entire payment process as smooth as possible, and even enjoyable. We're very satisfied with the partnership so far, and we look forward to continuing to develop new solutions together for the benefit of our customers."
Johannes Vermeire, CEO at POM
Solutions & results
POM's payment solutions focus on improving the payment experience for invoices, fines, taxes, membership fees, or really any document that requires payment. Businesses can sign up to receive payments via POM, either through a direct integration (via API) or through one of our partners that have integrated POM into their software.
"We aim to integrate POM quickly and easily into existing systems and workflows, with minimal IT impact and investment on the customer's side. For our customers, offering POM as a payment method is a way to optimize their invoice collection process while improving the payment experience for their own customers."
POM's ambition for the future
"Our main goal is to help as many people as possible overcome their frustrations with paying invoices. That's why convenience and ease of use are central to POM's payment solutions.
Our ambition for the future is to further accelerate our growth in terms of transactions and customers. Alongside direct API-based integrations with large customers, we also want to expand the number of integrations with software tools for SMEs, so that more and more small organizations can easily access POM's payment technology."
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"With Buckaroo, we stay competitive and can scale faster within Europe"
Johannes Vermeire, CEO at POM
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