A Singapore-based online education platform automated fee collection, subscription billing, and multi-currency revenue recognition — enabling rapid growth without adding finance headcount.
EduTech Academy is a Singapore-based online education platform offering 120+ courses in technology, business, and creative skills. Founded in 2020, the platform grew from 200 to 5,000+ active students across Singapore, Malaysia, India, and Australia.
With monthly and annual subscription plans, course bundles, corporate training packages, and students paying in SGD, MYR, INR, and AUD — financial management complexity grew exponentially with each new market.
Fee collection was semi-manual. The finance team sent 5,000+ individual payment reminders via email each month, tracking responses in spreadsheets.
Subscription revenue recognition was incorrect. Monthly, annual, and bundle plans were all recognized immediately — causing wildly inaccurate financial statements.
Multi-currency invoicing required manual exchange rate lookups. Students in 4 countries paid in 4 different currencies.
Refund processing took 7–10 business days. Manual bank transfer matching led to frequent errors and student complaints.
The 2-person finance team spent 80% of their time on data entry and reconciliation — zero time for financial planning or analysis.
EduTech Academy integrated Laabam.One with their learning management system (LMS) in just 2 weeks. The finance team was fully operational on day 3.
Automated subscription invoicing for monthly, quarterly, and annual plans. Auto-retry for failed payments. Dunning management for overdue accounts.
Students receive invoices in their local currency (SGD, MYR, INR, AUD). Exchange rates update automatically. Forex gain/loss tracked per transaction.
Proper accrual-based recognition for subscription revenue. Annual plans recognized monthly. Course bundles amortized over access period.
Integrated with Stripe and Razorpay for automated collections. Real-time payment matching. Refund processing in 24 hours.
Admin costs reduced by 45% — the 2-person finance team now handles 5,000+ students without additional hires.
Fee collection rate improved from 82% to 98.5% through automated reminders, retry logic, and dunning workflows.
Revenue recognition is now IFRS-compliant. Annual subscriptions properly deferred and recognized monthly.
Refund processing reduced from 7–10 days to under 24 hours. Student satisfaction scores improved by 30%.
The finance team now spends 60% of time on analysis and planning instead of data entry.
“When we hit 2,000 students, our billing process broke completely. Laabam.One fixed it in 2 weeks. Now at 5,000 students, our finance team is smaller but more effective than ever. The subscription billing engine alone saves us 80 hours per month.”
Daniel TanCo-Founder & COO, EduTech Academy
Automate billing, manage subscriptions, and handle multi-currency operations effortlessly.