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International Payments

A fast and easy way to process bulk payments

DELOITTE a customer success story.

Deloitte provides audit, tax, consulting and financial advisory service to public and private clients spanning multiple industries.With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges

Challenge

Processing bulk payments manually was a drain on resources

Solution

Online payment platform integrated with SAP system

Result

Reduced payment processing time by approximately half

 

The Challenge:

Juggling multiple payments

Deloitte provides audit, tax, consulting and financial advisory service to public and private clients spanning multiple industries.With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte has in the region of 240,000 professionals, all committed to becoming a standard of excellence.
Deloitte’s Australian offices collaborate with member firms throughout Asia, Europe, Africa and the Americas to provide additional services to clients. The Accounts Payable team is responsible for sending payments to these firms which involves a wide range of currencies including USD, NZD, SGD, EUR, GBP, and some exotic currencies.
John Fox, Director for Group Finance, Deloitte Australia, explains that in the past managing such a wide range of payments was a resource intensive task.
“Our previous FX providers could only make individual foreign currency payments, and each currency had different cut off times. The process was both complex and very manual, involving double entry and the use of Excel spreadsheets.”
Deloitte Australia began searching for an efficient alternative to help free up resources.

 

The Solution:

Online payments platform integrates with SAP

The company found a new FX provider in Western Union Business Solutions, whose online platform could process multiple payments in a single file upload. In addition, Western Union Business Solutions processes the payments once uploaded, so that Deloitte Australia’s Accounts Payable team has greater flexibility and no longer needs to worry about bank cut off times for each currency.
In 2015, Deloitte Australia refined its process further by implementing the WU® GlobalPay Platform which has been integrated into the company’s SAP system. This means Accounts Payable can now easily manage international payments within SAP which automatically uploads a file to Western Union Business Solutions platform for processing.

 

The Result:

Processing payments in half the time

Today, all beneficiary bank details are managed within SAP which helps reduce administrative errors. Payment uploads are automatically transmitted to Western Union Business Solutions via the GlobalPay platform, which searches for new uploads every few minutes and notifies Deloitte Australia every time a file is received.
“Nowadays the process is no more complex than if I were making an Australian currency payment,” says Mr. Fox. “I can easily select parameters for every payment due on the day, and upload a foreign currency creditor file in a single payment run.
“The process is convenient, efficient and easy on resources. We process around 25 different creditor payments in two or three runs per week and it now takes less than half the time that it used to. I’d estimate we’re saving 2 weeks of time per year with this system.
The GlobalPay platform implementation and its integration with SAP was completed in about six weeks including trial tests, a turnaround which Deloitte Australia was extremely pleased with.
“The implementation was very collaborative. The two businesses worked well together with lots of communication to develop the interface and manage the trials. We’ve been really happy with the results, and look to a long working relationship with Western Union Business Solutions,” Mr. Fox concluded.

We process around 25 different creditor payments in two or three runs per week and it now takes less than half the time it used to.
- John Fox, Director for Group Finance, Deloitte Australia

The Last
Exchange
Online payment platform integrated with SAP shifted manual tasks away from internal resources, creating greater efficiency.
International Payments  Cash Management 

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