Demosphere is a leading provider of software solutions for sports organizations, offering a comprehensive suite of tools to streamline administrative tasks and enhance the overall experience for athletes, coaches, and parents. With over 30 years of industry experience, Demosphere serves thousands of sports clubs, leagues, and tournaments worldwide.
Embedded Fintech Products
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Problems to be Solved
Demosphere faced multiple challenges that not only hindered their revenue growth but also compromised customer experience prior to adopting JustiFi’s solution.
- Revenue growth: Demosphere’s existing payments infrastructure was suboptimal, resulting in high transaction rates and missed revenue opportunities.
- Operational issues: Demosphere struggled with cumbersome customer onboarding, payouts, and the accounting and reconciliation processes, leading to time wasted and a customer experience that didn’t live up to their expectations.
- Unlocking new fintech opportunities: Demosphere recognized the potential benefits of incorporating new fintech products, particularly embedded insurance, but lacked a clear roadmap and the team necessary to go to market.
Recognizing the need to address these challenges, Demosphere embarked on a strategic initiative to integrate JustiFi’s embedded finance infrastructure directly into their software platform. According to Bill Wright:
JustiFi’s embedded finance infrastructure seamlessly integrated with Demosphere’s existing software suite and empowered a range of new features and capabilities:
- Embedded payments: Demosphere’s software platform was equipped with an integrated payment gateway, eliminating the need for organizations to use external payment processors. This integration streamlined the payment process, providing a unified experience for users.
- Supporting complex pricing models: In serving thousands of sports clubs, leagues, and tournaments worldwide, a one-size-fits-all pricing solution was never an option. JustiFi’s embedded finance infrastructure granted Demosphere the funds flow to support multiple complex pricing models.
- A team of fintech experts: Like most their size, Demosphere doesn’t have a dedicated roster of fintech professionals. Instead, they teamed up with JustiFi’s engage team who provide real-time insights into their financial performance. This has allowed them to make data-driven decisions, optimize revenue strategies, and identify new financial products to launch to their growing roster of customers.
Results & Benefits
The implementation of an embedded finance infrastructure yielded remarkable results for Demosphere and their customers, driving significant revenue growth and transforming the payment experience for sports organizations. In working with JustiFi, Demosphere saw these key benefits:
- Time saved: Time-consuming processes like: customer onboarding, payouts, and the accounting and reconciliation processes have been automated and improved by JustiFi’s engage team.
- Revenue growth: Increased profit margins by more than 35% in their first year.
- Secure payments: Demosphere’s integrated payment solution prioritized security and compliance, ensuring that sensitive financial information was handled with the utmost care.
- Unlocking new fintech opportunities: In 2024, Demosphere plans to integrate JustiFi’s embedded insurance offerings seamlessly into its platform, empowering sports organizations to provide additional coverage options for participants, such as supplemental health protection and event insurance, thereby expanding revenue streams and delivering comprehensive solutions to their customers.
With JustiFi’s embedded finance infrastructure in place, Demosphere has increased profit margins by more than 35%, resolved operational issues, and is well positioned to easily roll out new fintech products. These innovative solutions not only serve as a catalyst for exponential growth, bolstering the company’s bottom line with millions in annual revenue, but also serve as a powerful driver of customer loyalty as Demopshere continues to add value to their platform and to sports organizations worldwide.