Streamlining Global Payments Saves Company Time and Resources

Posted by Andrew Park on 3/13/20 10:41 AM


The Challenge

A mining company with international operations in Canada, Africa, and the Middle East was having problems effectively making global payments. Their annual currency exchange volume was between $500,000 to $2 million.

The company realized that they were wasting valuable time and money processing and managing their global payments. Dealing with due diligence, paperwork and delays were especially challenging for this company.

The Solution

During the initial consultation, Andrew Park, a Senior Account Manager, mentioned that Olympia’s banking and compliance team has deep expertise managing all aspects of the wire transfer process. From compliance, to wire amendments, to wire traces – the back office, coupled with a dedicated Account Manager would allow them to seamlessly port over all of their global payment requirements.

The Results

Olympia managed to not only reduce their foreign currency exchange and wire costs, but more importantly, alleviated the client’s unnecessary time spent manually processing supplier payments. Olympia essentially took over the entire wiring system for the resource company.  Park became a trusted partner and specialist in that part of the company’s business, allowing it to free up valuable resources that could be re-focused on running their own business. 

The Conclusion

Clients rely on the custom solutions offered by Account Managers to manage their payments and currency risks more effectively.  Olympia’s suite of custom currency and global payment solutions allows our partners to navigate the complexities of conducting business internationally with more ease, especially in countries whose regulations may require more understanding.

You rely on your accountant to do your accounting and your lawyer to do your legal work so allow Olympia’s Account Managers who specialize in global payments and all its intricate pieces to manage your payment processes.

avatar-2 For more information or to schedule a free consultation, contact Andrew Park.
P: 1.866.927.7774


Topics: Case Studies


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