Every significant journey starts with a small step. For TechArch Softwares, that step was taken in December 2014, when three friends decided to leave their stable jobs to build something of their own. They started in a humble 100-square-foot cabin with just one employee and a vision to provide end-to-end digital solutions under one roof.
Over the last decade, that small cabin has evolved into a robust team of nearly 100 professionals. Today, TechArch is a full-service agency offering everything from web development and design to SEO and paid advertising.
With a client base that has always been global, 75% in the USA and the rest spread across Australia and other regions, managing international revenue has been a core part of their daily operations from day one.
The Challenge: The Cost of Doing Business Globally
While serving international clients fueled their growth, the financial logistics were becoming a bottleneck. For years, TechArch relied on traditional freelance marketplaces and popular international payment gateways to receive funds. As their transaction volumes grew, especially during the post-COVID digital boom, the limitations of these legacy systems became impossible to ignore.
They faced three major hurdles:
- Unsustainable Transaction Costs: The cost of receiving money was eating into their margins. Between platform commissions and high forex markups from their payment providers, the agency was losing a significant portion of their revenue. In fact, the fees charged by one of their primary payment gateways meant losing approximately 7% of their gross earnings in fees alone.
- Payment Reconciliation Issues: Wire transfers often led to friction with clients regarding “hidden” bank charges. If a client sent a $1,000 payment, intermediary bank fees meant TechArch often received less than the invoiced amount. This led to awkward back-and-forth discussions about who should cover the difference, the client or the agency.
- Compliance Struggles: As regulations tightened, obtaining a Foreign Inward Remittance Certificate (FIRC) became mandatory. With their previous methods, getting these certificates involved a manual, time-consuming chase with banks and support teams, adding unnecessary administrative overhead.
How Razorpay Helped
TechArch turned to Razorpay Money Saver Export Account to modernize their international receivables. The solution offered them virtual accounts (such as a local US account), allowing clients to transfer funds easily without the heavy deductions associated with traditional gateways.
- Significant Financial Recovery: By bypassing the heavy forex markups and high commission fees of their previous providers, the financial impact was immediate.
- Automated Compliance: The administrative burden of FIRC vanished. Unlike their previous manual processes, Razorpay automated the flow. The team now receives their FIRC directly via email as soon as a transaction is completed, keeping them compliant without the headache.
- Smoother Client Relations: The friction regarding short payments disappeared. Clients could pay into the virtual account just like a local transfer, ensuring the full invoiced amount was received. This eliminated disputes over bank fees, allowing the team to focus on delivery rather than collections.
- A Trusted Partner: While there were other options in the market, the co-founder noted that Razorpay offered a “Trust Factor” that other services lacked. Coupled with fast support, where queries are often resolved in under 30 minutes, the switch provided both savings and security.
Conclusion
For TechArch Softwares, the transition to Razorpay was a strategic move to protect their hard-earned revenue. By saving Rs 10 to 15 Lakhs annually, they have significantly optimized their bottom line. Today, the agency is looking to further streamline their operations by adopting Razorpay’s subscription models for their retainer clients, ensuring their financial infrastructure is as efficient as the digital solutions they build.
