FIQAS and OLX
OLX is the world’s leading classifieds platform in growth markets, available in more than 35 countries and over 50 languages. As a global supplier FIQAS provides a Managed Service for the invoicing of ads and banners.
OLX is the world’s leading classifieds platform in growth markets all around the world. It is available in more than 35 countries and over 50 languages. Every month, hundreds of millions of people use it to find and sell or exchange used furniture, musical instruments, cars, houses and more. The platform is completely free and is mostly used from mobile devices.
OLX’s challenge is to translate the growth into ‘monetization’: turnover must increase. A crucial prerequisite for this is a comprehensive, integrated invoicing process, to ensure all paid services are actually charged. A process that must comply with the – sometimes very different – regulations for each country.
As a global supplier, FIQAS provides the solution that enables OLX to realize these objectives. For OLX, FIQAS provides the invoicing of two products in a professional managed service: ads and banners. For this, FIQAS uses its Abillity® (real time) invoicing platform. Collection and credit management are handled by OLX itself.
The invoicing of banners involves high invoice values. Banners are invoiced monthly in arrears as one-off subscriptions. OLX enters the data into Abillity® using the web portal, FIQAS then generates and distributes the (digital) invoices.
The ads invoiced by FIQAS are ‘listings’, ads offered in tiered propositions, and ‘premium’ ads, paid ads that guarantee a top search results position, thanks to value added services such as ‘five day boost’. Invoicing takes place in an automated process with large numbers of invoices. For the billing process, the Abillity® Realtime billing engine is populated with customer and payment data from the OLX platform.
The Abillity® Realtime billing engine produces digital invoices which are distributed to OLX end-customers. Subsequently, invoicing and other relevant data is uploaded to the Abillity® Data WareHouse, where financial reports are generated. These reports are also of great value during audits, since they demonstrate compliance. In addition to overall generic reports for OLX, FIQAS offers customized reports for the various countries, in compliance with local financial legislation and regulations. In addition, FIQAS proactively monitors compliance and advises OLX on this subject matter.
In Q2 2018, OLX South Africa was the first country to start billing with the services and software provided by FIQAS. The South Africa entity was followed by Pakistan, India, Indonesia, El Salvador, Costa Rica, Panama, Guatamala, Argentina, Colombia, Peru and Ecuador. Remaining OLX entities are being added to the set-up according to the agreed planning.
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Why does OLX select FIQAS ?
- FIQAS as solid, experienced billing partner
- Centrally controlled set-up as a blueprint for all (international) billing streams.
- Global compliance guaranteed, allowing for local differences
- Flexible, scalable software solution