Travelex’s main businesses are international payments, bureau de change and issuing prepaid credit cards for use by travellers.
Travelex operates globally with a revenue in excess of £700million and employing over 6500 people.
As Travelex experienced consistent growth as a business, they began to anticipate new ways to streamline. Travelex needed a process solution that was go
ing to grow with them, not outdate them.
They needed shared, global access to documents that was fast and secure, full integration with existing applications to streamline the way their information is managed and an archival solution that followed strict adherence to retention laws.
It was in 2014 Travelex awarded ELITE the opportunity to supply, implement and support a global technology solution throughout their legal departments. Today, the document solution is in full-deployment and all contracts, emails and correspondence relating to legal matters are archived securely with now instant access available to all members of the legal team wherever they are in the world.
After the successful implementation throughout the legal departments Travelex naturally decided to investigate solution expansion and how other departments could benefit.
Due to the scalability of the solution they organically expanded into Finance where invoices could be stored electronically alongside a full digital workflow solution for authorisation and approvals.
In 2015 Travelex decided to review their currency exchange processes and to store ID for every individual transaction throughout France. Once again, they turned to ELITE to help explore a solution. After consultation, a solution was designed so that now every Travelex store in France can record all ID’s for each transaction made. This ID is then archived away into an encrypted, read-only filing cabinet, accessible only by assigned members of staff.
Reducing costs and streamlining processes have enabled Travelex to process transactions more efficiently resulting in significant improvements in the service provision, cash flow and competitive advantage. The ability collaborate between international locations is now effortless and data security is of the highest standard for customer information.
ELITE deliver solutions bespoke to your business through friendly, impartial consulting. If you’d like to have a chat and see how we could help please contact us today.