Dynamic Supplies has engaged business payment specialist, Travelex, to rollout a Web-based overseas payment and foreign exchange solution.
The hardware distributor has had a longstanding relationship with Travelex but the secure GlobalPay Web-based FX and payments platform is the first management product Dynamic Supplies has taken on.
“We knew the company was a transactional business that had a lot of stock keeping units and some fairly complex inventory management and payment processes,” Travelex national sales manager, Simon Glendenning, said. “What we did was offer Dynamic Supplies a product to simplify management of international transactions.”
GlobalPay is delivered through an Internet portal and is customisable to specific needs. The distributor can view and schedule incoming and outgoing payments on a single screen to provide visibility over cash flow and foreign currency exposure.
The platform has been implemented at the distributor’s Brisbane head office. Dynamic Supplies managing director, Scott McLennan, said the deployment process was painless.
“We went through the process of customising it to how we desired, and Travelex made some changes specifically for us,” he said. One additional feature requested was a reporting function, which was delivered within a week by Travelex’s US development team.
McLennan said the product offered automation of relevant processes and was performing well so far. The distributor pays for the service on a month-to-month basis. Travelex could not disclose the contract length and value.