The digital payment services challenge
Employees were unhappy as they were not receiving their pay on a timely basis and in some cases not in their preferred currency, requiring another conversion at their own expense. A mixed local and expatriate workforce meant increasingly complex digital payment services demands for the company, with employees wanting greater flexibility and how and where their salaries were paid.
The company wanted a better way to manage its payments, centralize their banking relationships and enhance employee satisfaction.
Outcomes
By using Strada services, the organization was able to:
- Increase currency and country coverage
- Centralize payment and treasury reporting
- Cut payment charges by 50%
- Remove the need for ongoing FX adjustments
- Reduce payment time from 5 days to 1 day, improving the organizations payment cycles and cash flow
