SPLITIT LTD (Company) Objectives The Risk, Audit and Governance Committee (Committee) has been established by the board of directors (Board) of the Company pursuant to article 47 of the Company’s articles of association. The Committee’s primary objective is, in
Splitit offers a very unique payment solution combined with great customer service and customer support. I see our company working with Splitit for a very long time.
Strong Start for Exxentric & Splitit
Exxentric, founded in 2011, is a strength equipment manufacturer specializing in flywheel training equipment that works without gravity. These flywheel devices are designed to efficiently store kinetic energy and resist changes in rotational speed, and are often used to provide continuous power output. It was used in the 1980’s to help astronauts avoid muscle atrophy and bone loss in space, and over time it has been incorporated into resistance training.
The founders of Exxentric, Fredrik Correa and Mårten Fredriksson, both used to work at an elite ice hockey club training junior players when they first met. They were both dealing with the same problem: the majority of their time was focused on teaching their players how to lift rather than improving their performance. Their frustration circled around the limitations that using free weights came with, as they were limited with how much load they could put on these talented athletes due to lack of technique.
This frustration combined with their discovery of flywheel training ultimately led to the creation of Exxentric. They decided to create a multi-exercise device that could be used for strength training, rehabilitation, injury prevention, general fitness, and much more. Using a flywheel device, instead of free weights, provides the user with variable and unlimited resistance while also offering them a safe and convenient way to achieve an eccentric overload.
Today Exxentric’s product lines include the kBox4, the kPulley2 and the LegExx. With each of their flywheel devices, you work against the inertia of heavy steel flywheels, instead of lifting weights against gravity. The kBox4 is designed for horizontal movements and is renowned for its ability to safely and efficiently overload the eccentric portion of movement in regular training as well as its variable and unlimited resistance, both backed by growing scientific support. Their kPulley2 is the ideal solution for horizontal exercises based on the same, scientifically proven flywheel technology as the kBox4. The LegExx is their first single-exercise flywheel training device intended for seated leg extension training.
They also have numerous accessories, including their kMeter feedback system, developed to accurately monitor power and energy output as well as estimate force production during flywheel training on all of their devices. Their kMeter is used in combination with their kMeter App, which is designed to track data and progress over time.
What Sets Exxentric Apart
Exxentric’s flywheel equipment is so effective they are used by the military, professional and collegiate teams as well as personal trainers and home gym users. Another thriving market is for Physical Therapy, implementing safe and effective rehabilitation protocols to improve recovery times.
What Exxentric wants to share with the world is that strength training is for everybody and it’s very accessible. The key advantages of using an Exxentric flywheel device are:
In summary, when using Exxentric flywheel devices, whatever you put in you get back. It offers variable and unlimited amounts of resistance, which means it can work with any body regardless of how strong (or experienced) they are. With Exxentric’s flywheel devices, you are able to get stronger in a shorter period of time with less risk of injury.
Partnering with Splitit
When Andreas, the Senior VP of Sales & Operations at Exxentric North America, found out about Splitit’s payment solution, he saw it as a great opportunity to provide added value to their customers and help them expand further into the “home-gym” market. This in turn, has offered Exxentric’s customers a unique and affordable solution for equipment purchases.
Integrating Splitit into their checkout process eliminated a lot of friction in a way that other payment solution providers couldn’t, making the whole checkout process simple and easy. It offers customers a payment solution that is easy to understand, instantly accessible, and provides a great customer experience.
“We are excited to have the opportunity to offer Splitit as a payment solution. It is a great opportunity for our customers to have the ability to split their payments for up to 36 months with zero credit check, which is unheard of anywhere else.” Andreas Ahlstrom, Senior VP of Sales & Operations
Seeing Real Change Right Away
Within the first 3 months working with Splitit, Exxentric North America saw a 26% increase in sales. A peek into the data showed Splitit customers were more willing to add accessories to their purchases, increasing their average order values (AOV), compared to those choosing to pay the traditional way. On average, they saw a 29% increase in AOV on Splitit purchases within the first 3 months. In addition, their AOV compared to a competitor they had previously used was 77% higher and the largest order value with Splitit was 416% more than the competitor.
Right from the start, customers were really motivated by Splitit’s payment solution and felt more comfortable making a purchase when they were able to spread their payments over 36 months at 0% interest and with no credit check or application required. On the backend, Andreas said that he appreciated the quality of Splitit’s customer service and their hands on approach to working together.