Travelex rolls out customised Foreign Exchange solution for leading IT consumables supplier
4 September 2009
Foreign exchange and business payments specialist Travelex today announced the award of a new agreement to provide an integrated overseas payment and foreign exchange solution to one of Australia’s leading IT hardware and consumables distributors. Under the contract, Dynamic Supplies has introduced GlobalPay, Travelex’s secure webbased FX and payments platform to manage its international payment requirements.
Dynamic Supplies is one of Australia’s leading wholesalers, distributing a comprehensive range of IT hardware and consumables from the world’s leading manufacturers from state-ofthe-art distribution facilities in Brisbane, Sydney, Melbourne and Perth. Travelex Regional Divisional Director, Asia Pacific, Kerry Agiasotis said the GlobalPay solution has helped Dynamic Supplies to streamline payments processes, bringing benefits to the business, its customers and suppliers.
Working together, we have implemented a tailored international payments solution that will increase automation, improve the reporting and confirmation process for suppliers and has given Dynamic Supplies the tools to help manage the risk in their business associated with currency volatility he said.
Dynamic Supplies Managing Director, Scott McLennan said the introduction of GlobalPay would help the company better manage the significant number of payments it makes to offshore suppliers.
Our business makes offshore payments to a number of key suppliers but our incumbent solution was becoming increasingly inflexible and unable to meet our needs. For example, the simple process of paying a supplier would involve a call to our bank where an exchange rate would be agreed and the payment requested. Our accounts team would then wait for payment confirmation from the bank before sending the receipt on to our supplier.
GlobalPay has simplified this process letting staff manage payments from their desktop and automating the process of notifying suppliers that payments have been made while also giving us a greater level of visibility over our overall cash flow and currency risk position. “Importantly we had complete flexibility during the roll out and were able to work with Travelex to bed down a solution customised to our business needs, Mr McLennan said.
Mr Agiasotis said Travelex was seeing an increase in demand from clients wanting to improve the efficiency of their inbound and outbound international payments processes. “Businesses are looking for solutions that are simple, cost effective and easily integrated with their existing banking relationships and accounting software. Travelex understands this and offers a range of solutions that can be tailored to individual businesses making them especially attractive for organisations who want to spend less time managing their payments and more time managing their business. Mr Agiasotis said.
About Dynamic Supplies:
Dynamic Supplies is one of Australia’s leading wholesalers, distributing a comprehensive range of IT hardware and consumables from the world’s leading manufacturers. Proudly 100% Australian owned and operated, Dynamic Supplies employs over 120 qualified staff with strong industry experience and state-of-the-art distribution facilities in Brisbane, Sydney, Melbourne and Perth. Dynamic Supplies is renowned for being able to fill customer orders first time with rapid turnaround and unfailing accuracy. They strive to maintain their reputation for responsiveness and service to ensure that total customer satisfaction remains their foremost priority.
