Cross-Border Payment Optimization & Risk Mitigation
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
Customer Background
A global company creating customized supply chain and logistics solutions for brands and retailers worldwide, with a sales turnover of $6B+.
Challenges
01. 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.
02. 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.