Unlocking the power of recurring donations
Igor Krasnykh
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2 minute read
INSEAD, a prestigious global business school, approached TechNWeb with a critical challenge regarding their online donation system. With 25% of their revenue dependent on online donations, INSEAD needed a centralized and efficient system to manage recurring payments seamlessly.
The challenge
INSEAD’s previous donation system lacked critical functionalities. They struggled with tracking donations made through their website, manually updating recurring payments, and integrating various payment gateways. This created more manual labor for both donors and back-end administrators to notify one another of donations and payment records. INSEAD sought a solution that would cut down on time and human error, while centralizing and improving the user experience for administrators and donors.
"… recurring payments are not available in Magento out of the box. It's something you have to build on your own. [TechNWeb] has created a model that has real significance to businesses like us."
The solution
TechNWeb leveraged their expertise and integrated the Magento subscriptions and recurring payments module into INSEAD’s system. The integration provided a comprehensive solution tailored to INSEAD’s unique needs.
With this integration, INSEAD now benefits from:
- A centralized platform: With the integration of Magento2 with Oracle Finance, INSEAD can centralize and easily track all of its online revenue, including donations, membership, and product sales.
- Easy integration: A seamless integration with payment gateways like Stripe, AuthorizeNet, and Braintree provided a more flexible, adaptable, and simple process towards payment collection. By ensuring all payment gateways were supported, INSEAD can transition payment gateways in the future without fear of donors or administrative staff being affected.
- Automated processes: The automation of starting and ending recurring payments paves the way for sustainable revenue, a simpler donation process, and freeing up staff time and resources.
- Agency for its administrators and donors: Administrators can take action on behalf of donors, while donors also have the ability to update their credit card information and control their recurring payments.
"Maybe the biggest benefit to my business since we began with mPower is probably the administration of recurring payments. If today we use Braintree and tomorrow decide to switch to Stripe for recurring payment, it would be possible with mPower. I'm not limited to Braintree recurring payments only. It wasn't the case before."
The outcome
As a result, INSEAD has experienced increased ROI, donation revenue, and investment in fundraising efforts.
"I got what I wanted, I can tell you. It's working well, and the value we got was much larger than the investment. It's a fair situation and it's a success story in the way that I'm doing recurring revenue at INSEAD."
TechNWeb’s products transformed INSEAD’s online donation system, providing a robust, centralized platform that streamlined processes and increased efficiency. Through collaboration and expertise, TechNWeb empowered INSEAD to achieve its fundraising goals while enhancing donor satisfaction and loyalty.
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