Background

RSM, a multi-nation network of accountancy companies forming the seventh largest global accountancy firm, provides clients with pragmatic, expert-led, personalised advice and insight that help them succeed, grow and prosper. RSM is a powerful network of audit, tax and consulting experts with offices all over the world.

Challenge

RSM receives thousands of multi-currency payments through cheques, bank transfers and credit cards.

Invoices were processed on a weekly bases and were an extremely manual and time consuming process making it susceptible to administration errors. RSM often received the incorrect amounts due to bank charges and FX fluctuations making it difficult to reconcile invoices with missing funds and reference numbers.

RSM reissuing invoices to their clients for missing funds and information resulted in frustration from clients and heavy administration for staff.

Solution

TransferMate proposed their full 360 global payables and receivables solution to RSM.

The solution gives RSM transparent same day transactions, allowing them to simplify the process of collecting and sending multiple overseas payments in addition to savings on international bank charges ensuring that the amount billed is the amount received.

The TransferMate solution has also reduced administration for their staff member with all payments fully tracked and referenced.