The University of Essex has a duty of care to ensure its staff and students
are safe and well prepared when undertaking University related trips and
activities, and the associated spend for these international trips. Travel and
accommodation is booked via the University designated travel providers,
however travelling overseas often incurs additional sundry expenditure which
in the past would have been facilitated by a currency cash advance. This
proved difficult to manage and quite stressful for the staff member assigned
the advance and was time consuming when filling in the expense forms at the
end of the trip with their receipts, together with converting the currency
underspend.
Depending on the location of the trip there can be expenses that can’t be
prepaid. Meals out, excursion entry, local transport, and other spending. It’s
unreasonable and inconvenient to expect staff and students to carry cash and
to fully reconcile their cash advance using a manual process.
The University of Essex uses the Caxton expense management system,
including expense cards module. The Payments team now manages
17 multi-currency expense cards and 10 GBP expense cards
When staff are allocated an expense card they can now spend anywhere
where they see the Mastercard logo, and it makes paying for meals and
general expenses a lot easier. Staff can use the Caxton app to scan and
categorise receipts and the Payments team can review expenditure, set
individual limits and top up approved funds anytime.
The fully integrated dashboard gives the Payments team a single place to get
real-time view of spending, report by category and reconcile expenses online,
directly into their own accounts package, saving valuable time and money.
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Engcon is the world’s leading manufacturer of tiltrotators and related
tools – designed to improve the flexibility, precision, and safety of
excavators. Engcon forms part of a larger group; consisting of the
Strömsund-based parent company Engcon Holding AB, alongside seven
sales companies responsible for sales in their respective markets across
Europe, including England. Home to 300 employees, 2019 saw the
Engcon Group garner 1.3 billion SEK in sales.
When Engcon sought the expertise of Caxton, we quickly identified the
solutions required to resolve the issues they were facing. Thanks to our
expert FX specialists, we delivered a plan that limited the exposure of
Engcon to the often fluctuating FX market – allowing them to focus on
their day-to-day trading, and expand their business successfully through
limited exposure to changes in the currency market.
“Caxton limits our exposure to changes in the market. So, we’re able to
sell internationally as well as actively manage our foreign exchange rate.”
“Caxton devised a plan to guarantee our exchange rates, despite the fact
that Swedish Krona can be more difficult to plan for the future. The
team’s experience leaves me to focus on daily operations. And if I have
any queries, our dedicated account manager is always on had to help
me, no matter what.”
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As a small business with a number of key clients, it was taking several
days per month to make their payroll payments to their clients – which
proved frustrating for all parties involved. PAYG opted to facilitate their
payments process via their bank. The welcome convenience of this was
ultimately undermined by the often slow, clunky, and expensive overall
process.
So, it was time for PAYG to source a new partner to support their
growing business and retain existing clients with an improved delivery of
payments. Payroll as You Go quickly turned to Caxton to help them to
automate all of their payments via one platform to hundreds of their
clients.
Caxton’s bulk payments platform easily integrated with PAYG’s accounts
system, to automate all of the latter’s payroll payments. The business’
Payroll Manager was initially reluctant to switch to Caxton’s fully
automated system. However, the finance team and, indeed, the entire
company is now reaping the benefits of having two extra days a month
to focus on other parts of the business.
Freddie Wells, Payroll Manager, went on to say, “Overall, the switch to
Caxton’s automated system has saved our business time, money, and
has reduced the risk of errors when dealing with payments. Our clients
are happy that there are no delays, and it’s great I have a dedicated
account manager I can call should I have any problems. And we’re
saving on payments too.”
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Whitmill Trust strives to offer a focused and professional service to its
clients with a personal touch and complete transparency, its these
qualities that have contributed towards the building and development
of long-term relationships with their clients. ‘This excellence in service
flows across everything that we do, so when our bank was not
responding quickly to requests and charging above market rates, we
started to become concerned’ said Wayne Meenagh, Director at
Whitmill.
With Whitmill’s commitment to providing a resolute level of service to
their clients, they looked to Caxton to provide an automated payment
solution that meant they could keep their service levels in check and
ensure costs were kept down too, whilst sending thousands of payments
each month for their clients. ‘We needed to find a solution that worked
for us and our clients and Caxton delivered on all fronts’ said Wayne.
Caxton’s bulk payments platform meant that Whitmill Trust could take
back control of their payments whilst removing manual processes,
reducing bank charges and ensuring their clients could continue to pay
their contractors who work within the health sector, on time month after
month.
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Our client is a clinical research provider near Manchester which
undertakes research, with a focus on patient safety. They provide in
home visits from medical specialists as well as high quality sampling,
processing and patient assessments for research purposes.
As part of providing great services to their patients and clients, the group
embarked on an improvement journey which involved understanding
where their non-medical services could improve. They appointed an
agency to facilitate streamlining patient processes, and one important
part of this will be automating payment processing for their clinical trials.
“We were already using Caxton for our expense management, so we
wanted to look into how we could work together to further improve how
we handle sensitive data,” said a representative for the group. “As a
medical business we understand the importance of confidentiality, so it’s
important that our partners are able to safeguard our patients and their
information.”
Working with the third party agency, Caxton was able to give access to
several of our APIs working in conjunction. We will safeguard patient
data by storing bank details in our API, automating movement of funds
between accounts and facilitating transfers of funds.
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Expertise
- Card Payments
- prepaid cards
- International payments
- Expenses
- Payments
- accounts payable
- Accounts Receivable
- Payroll
- foreign exchange
- Foreign Exchange Markets
- SaaS
Summary
Senior Business Development Executive at Caxton. Specialising in International Payments, Foreign Exchange, and API Integration.
Helping to deliver one platform for every type of business payment. Streamlining payment processing, helping to solve complex payment issues and increase efficiency.
Experience
-
CAXTON PAYMENTS
Business Development Executive
- Current
-
Caxton Payments
- Current
