Leveraging Domain Expertise to Navigate Global Payment Challenges
2 Sep 2024
Faced with complex compliance and cross-border payment issues, a global supply chain company turned to Neo Tangent for a solution. The team implemented automation tools and customized payment systems, resulting in significant cost savings, rapid processing, and a secure, fraud-free payment process.
Results at a Glance
Our Solution in Action
Customer Background:
A global company creating customized supply chain and logistics solutions for brands and retailers worldwide, with a sales turnover of $6B+.
Challenges:
- Complex Compliance and Operational Challenges: The company faced difficulties integrating global payment solutions with existing systems, leading to operational inefficiencies and delays in payment processing.
- Cross-Border Transactions: These transactions incurred higher fees, posed fraud risks, and required compliance with various regulations, affecting cash flow and contract fulfillment.
Solution:
Neo Tangent implemented automation tools, including RPA for payment processing and real-time monitoring systems to ensure compliance and mitigate risks. The team also customized payment solutions to fit the client's unique business requirements, optimizing the process for cost-effectiveness and efficiency.
Impact:
- Cost Efficiency: Saved up to 5 out of 15 FTEs (Full-time equivalents) and lowered operating costs.
- Improved Speed and Quality: Rapid processing with zero money lost from fraudulent payments, thanks to closed-circle monitoring and automation.