Global PayEX

“IT is not just writing programs, that is just 5% of it; the remaining 95% is you need to observe and understand the needs of people.”

Meet Pratik Parekh, our solution architect, an adventurer who loves to spend time at the seashore.

Exploring unknown places is like a hobby to Pratik. Whenever he gets a chance, he takes his keys and sets off on a journey. He loves to wander the streets of Bombay as well.

On the weekends, when he is not outside with his ride, you can find him spending time with his family and friends, watching movies, and listening to health tips.

He started his professional journey as a trainer at NIIT Limited; despite having a commerce background, he was always interested in technology and pursued a software engineering course. His passion for technology brought him closer to the IT world, and today, after almost five years in Global PayEX, he is one of our proficient engineers who manages a whole team and delivers client requirements seamlessly.

Did you know?

75% of B2B invoices require manual processing in the United States, costing businesses $166-203Bn every year.

e-Remittance is poised to be a game-changer to this situation, eradicating the need for manual payment processing. However, businesses encounter certain complexities when it comes to e-Remittance delivery and processing.

Having scrutinized these barriers, the FedPayments Improvement by Federal Reserve and Business Payments Coalition (BPC) have introduced an e-Remittance exchange framework in the United States. It’s expected to be mandatory for all businesses in the near future.

Our latest blog provides a comprehensive insight about e-Remittance Exchange Framework and how your business can adopt it with ease.

𝗥𝗲𝗮𝗱 𝗵𝗲𝗿𝗲: https://lnkd.in/gigRqzkG

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GSK, a pharmaceuticals manufacturing giant experienced a 𝟵𝟮% 𝗿𝗲𝗱𝘂𝗰𝘁𝗶𝗼𝗻 in reconciliation time using 𝗙𝗿𝗲𝗲𝗣𝗮𝘆.

GSK Pharmaceuticals is an Indian subsidiary of GlaxoSmithKline plc, one of the world’s leading research-based healthcare companies. It has a wide network of dealers and distributors across the country.

Earlier, GSK’s finance teams relied heavily on error-prone manual back-office processes which presented challenges in releasing locked credit lines due to unsuccessful cheque clearance.

Despite maintaining a dedicated team to oversee end-to-end collections, they encountered significant difficulties in promptly sharing payment information with their network of dealers and distributors.

Know how GSK successfully solved these and more accounts receivables challenges with Global PayEX.

Read the full case study here: (Link in comments)

In the world of B2B payments, customer satisfaction is the bedrock of success.

Global PayEX’s EIPP Solution: FreePay, provides your customers with multiple payment options and the flexibility to make payments using their preferred channel.

FreePay also helps your business to:

- Increase the collections cycle and reduce your Days Sales Outstanding (DSO) by 20-25%

- Empower your customers with a secure self-service payment portal

- Easy access to embedded finance for affordable and secure dealer financing for your customers

Page Industries Ltd, a fully integrated manufacturing and retail company, slashed its reconciliation time, going from 𝗳𝗶𝘃𝗲 𝗳𝘂𝗹𝗹 𝗱𝗮𝘆𝘀 to 𝗹𝗲𝘀𝘀 𝘁𝗵𝗮𝗻 𝗮𝗻 𝗵𝗼𝘂𝗿 with 𝗔𝗹𝗴𝗼𝗿𝗶𝗤!

In addition, Page Industries leveraged Global PayEX’s 𝗔𝗹𝗴𝗼𝗿𝗶𝗤 solution to:

1. Eliminate significant manual efforts of finance teams with automated reconciliation
2. Fasttrack deductions resolution with automated deductions identification from the huge volume of payments
3. Improve transparency with automatic updates of invoices and payment details to ERP

Here’s what Deepanjan Bandyopadhyay, 𝗖𝗵𝗶𝗲𝗳 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗢𝗳𝗳𝗶𝗰𝗲𝗿 of Page Industries Ltd has to say about leveraging AlgoriQ to optimize their cash-application and deductions management.

Global PayEX will be attending 𝗙𝗮𝘀𝘁 𝟱𝟬 𝟮𝟬𝟮𝟯 today, organized by Baltimore Business Journal to celebrate the fifty fastest-growing private companies of the city.

These companies have seen tremendous growth over the last three consecutive years.

Our Executive VP, Head of North America Anu Agrawal, will be at the event to congratulate them and demonstrate the true value of AR and AP automation in elevating working capital management of businesses.


Stay tuned!

Global PayEX is gearing up for SEMA 2023!

We're thrilled to announce we will be attending the SEMA Show this week in Las Vegas.

As a leading player in the world of B2B Payments, we can't wait to connect with industry professionals and showcase how our AI-powered AR and AP automations solutions can help businesses thrive in this competitive market.

If you will be at SEMA, we would love to connect!

Book a slot with our AR and AP automation expert Sudipta Jash, SVP of International Growth & Partnerships, to meet during the show: (Link in comments)



Stay tuned!

#2023

That’s a wrap for Money20/20 USA, and what an incredible experience it has been for Global PayEX.



We had the privilege of engaging in insightful conversations with finance leaders, industry peers, and esteemed banking professionals



The keynote session by Devin Banerjee of LinkedIn news and Siya Vansia of ConnectOne Bank on ‘The Evolution of Bank-Fintech Partnerships’ and the panel discussion of ‘Real-Time Payments Innovation in the US’ of Connie Theien, Dondi Black, Booshan Rengachari, and Nilesh Dusane were incredibly insightful.


We got the exclusive first look at 2023 survey results of emerging trends shaping the fintech industry by Discover Global Network and were inspired by the transformative insights shared by the leaders of US Bank, PwC, Mastercard and Deloitte. Our team engaged in multiple sessions discussing the future of financial services and the importance of real-time payments.



Money 20/20 was a dynamic blend of exploring latest trends in B2B payments, valuable networking, and delectable cuisine.



Stay tuned!



#2023

Reflecting on the exceptional past three days at AFP 2023!

Our time in San Diego was a whirlwind of connections, fintech innovations, and inspiration.

Meeting finance and treasury professionals from around the world was truly thrilling. We had the privilege of hearing insights from industry leaders at J.P. Morgan, Wells Fargo, and Standard Chartered on the remarkable transformations underway in the financial services sector.

We had the distinct pleasure of meeting Carolyn Kroll, Todd M. Albers from the Federal Reserve Bank of Chicago and Michael Jasper during the event. Their insights were truly inspiring about B2B payments modernization.

It was indeed an esteemed privilege to engage with prominent industry leaders, engaging in thoughtful discussions about technological advancements and nurturing invaluable connections that empower finance professionals through AR and AP automation.

If you are at AFP 2023, meet our SVP of International Growth & Partnerships, Sudipta Jash, at the conference and let’s discuss how our AI-powered AR and AP solutions can transform your finance management processes.

Stay tuned for more updates!
#2023

Global PayEX will be at 𝗔𝗙𝗣 𝟮𝟬𝟮𝟯 in San Diego from October 22-25, 2023.

We can't wait to connect with finance professionals from across the world and hear about the latest innovations in finance.

Sudipta Jash, SVP International Growth & Partnerships at Global PayEX will be at the event. If you’re looking to grow your business faster with finance process optimization, let's connect.

We’d love to showcase how our 𝗔𝗜-𝗽𝗼𝘄𝗲𝗿𝗲𝗱 𝗔𝗥 & 𝗔𝗣 𝘀𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀 help in overcoming the challenges of the office of the CFO.

Book an-in person meeting with our finance automation expert: (Link in comments)

We are excited to see you at 𝗔𝗙𝗣 𝟮𝟬𝟮𝟯.

Stay tuned for more updates!

Global PayEX is thrilled to attend 𝗠𝗼𝗻𝗲𝘆𝟮𝟬/𝟮𝟬 in 𝗟𝗮𝘀 𝗩𝗲𝗴𝗮𝘀 from October 22-25, 2023!

Money20/20 is one of the largest global events where banks, fintechs, startups and tech companies come together to share their insights on the latest industry trends and emerging technologies in finance.

We are excited to meet new finance leaders and industry peers to talk about B2B payments modernization and the future of commercial banking.

Meet our AR/AP automation experts at the event and know how we can help your business scale faster with our AI powered B2B finance automation solutions.

Stay tuned for more updates!

Global PayEX will be at AFP 2023 in San Diego next week!

We are super excited to attend the largest event of the corporate finance industry, where 5000+ business leaders, industry peers, and finance professionals will come together.

If you are going to be at AFP 2023, let’s discuss how our AI-powered automation solutions can make your AR & AP processes efficient and faster.

Book an in-person meeting with our experts at AFP: (Link in comments)

Let’s take your B2B payments experience to the next level.

See you there!

Struggling with manual accounts payable management?

In today's fast-paced business world, staying competitive means optimizing every back-office process. Manual AP management can be a tedious and error-prone process filled with:

→ Lost invoices
→ Payment matching errors
→ Slow processing of invoices
→ Data entry mistakes

These can cost your company heavily.

Want to eliminate these roadblocks?
Embrace 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐬 𝐏𝐚𝐲𝐚𝐛𝐥𝐞 𝐚𝐮𝐭𝐨𝐦𝐚𝐭𝐢𝐨𝐧!

Streamline your AP processes with Global PayEX to boost efficiency, reduce costs, and improve accuracy.

Let's break free from the shackles of manual Accounts Payable and embrace a future where your team can focus on strategic tasks that drive business growth.

𝐓𝐚𝐥𝐤 𝐭𝐨 𝐨𝐮𝐫 𝐞𝐱𝐩𝐞𝐫𝐭𝐬: https://globalpayex.com/book-a-demo/

Crompton Greaves Consumer Electricals Limited’s journey to reducing 𝟮𝟯% of 𝗔𝗥 𝗰𝗼𝘀𝘁𝘀 with 𝗙𝗿𝗲𝗲𝗣𝗮𝘆!

Crompton, a leading consumer electrical company, manufactures and markets a wide spectrum of products. Their products are available in nearly 𝟭𝟱𝟬,𝟬𝟬𝟬 retail points, serving a 𝟯𝟬𝟬𝟬+ dealers/distributor network.

Earlier, they printed and sent the invoices to dealers manually, which resulted in a significant reduction in their finance team’s productivity and potential revenue. New orders could not be booked due to delays in releasing credit limits.

Know how Crompton successfully solved their AR management challenges with Global PayEX’s 𝗔𝗜-𝗽𝗼𝘄𝗲𝗿𝗲𝗱 𝗘𝗜𝗣𝗣 𝘀𝗼𝗹𝘂𝘁𝗶𝗼𝗻 - 𝗙𝗿𝗲𝗲𝗣𝗮𝘆

Dive into the full case study here: (Link in comments)

𝐈𝐦𝐚𝐠𝐢𝐧𝐞 𝐭𝐡𝐢𝐬: A labyrinth of invoices, payments, and endless spreadsheets.

Finance teams are constantly searching for that elusive matching transaction and deciphering the complex remittance advice, because every dollar found and matched is a small victory!

Manual cash application comes with a vast set of challenges. Most businesses often overlook it and continue to do manual cash application as it’s easy to get stuck with what you have always done.

With AI-powered automation, industry leaders have started to optimize their finance workflows, setting a precedent for all businesses to stay competitive in the digital age.

We are here to help you streamline this complex cash application process.

𝐓𝐚𝐥𝐤 𝐭𝐨 𝐨𝐮𝐫 𝐞𝐱𝐩𝐞𝐫𝐭𝐬: (Link in comments)

Are you paying attention to the payment experience of your customers?



Customer expectations are driving change around the world and payment experience is a crucial part for long-term business success. When customers have the freedom to choose their preferred payment method, they are more likely to make purchases, resulting in revenue growth.



Take your business to the next level by empowering your customers with multiple and easy payment options with Global PayEx’s EIPP solution: FreePay.

Marico, one of the leading multinational consumer goods companies, achieves 𝟵𝟮%+ reconciliation of deductions with 𝗚𝗹𝗼𝗯𝗮𝗹 𝗣𝗮𝘆𝗘𝗫!

In addition, 𝗠𝗮𝗿𝗶𝗰𝗼 leveraged Global PayEx's 𝗔𝗹𝗴𝗼𝗿𝗶𝗤 software to:

1. Improve AR visibility and drive working Capital efficiency
2. Eliminate the significant manual efforts of the finance and sales teams for cash reconciliation
3. Reduction in unapplied payments immediately after the implementation

We're delighted to be a part of the 𝐂𝐈𝐈 𝐂𝐅𝐎 𝐋𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐂𝐨𝐧𝐜𝐥𝐚𝐯𝐞 on 𝐒𝐞𝐩𝐭𝐞𝐦𝐛𝐞𝐫 29𝐭𝐡 at the India Habitat Centre, New Delhi.

CFOs are now expected to be strategic partners to the CEO and other C-suite executives, helping drive growth and innovation. This exclusive conference brings together eminent industry leaders and financial professionals to discuss the evolving role of CFO by embracing the power of AI in AR/AP automation.

Discover how our innovative finance solutions empower strategic CFOs to elevate their business growth. If you're in Delhi, join us as we explore the future of B2B payments, and meet our AR/AP automation expert, Varun Rao.

Stay tuned for more updates!

Is your working capital healthy?

In today's economic uncertainties, a working capital checkup is essential to help your business stay on the right financial track.

Global PayEX helps businesses in working capital optimization via 𝗔𝗜-𝗽𝗼𝘄𝗲𝗿𝗲𝗱 𝗔𝗥 and 𝗔𝗣 𝗮𝘂𝘁𝗼𝗺𝗮𝘁𝗶𝗼𝗻.

Check out below the four signs of a healthy working capital to find out what needs to be fixed.

And that’s a wrap for Sibos 𝟮𝟬𝟮𝟯!

It was an extraordinary week in Toronto, we can't help but reflect on the immense value, innovation, and connections that were forged during this event.

Sibos brought together more than 𝟭𝟬,𝟬𝟬𝟬+ attendees globally this year around the theme: 'Collaborative finance in a fragmented world' debated by 550+ expert speakers across 250+ conference sessions.

From gaining transformative insights to 𝐰𝐢𝐧𝐧𝐢𝐧𝐠 the 𝐃𝐢𝐬𝐜𝐨𝐯𝐞𝐫 𝐏𝐞𝐫𝐟𝐞𝐜𝐭 𝐏𝐢𝐭𝐜𝐡 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 to exploring cutting edge technologies, it was an unforgettable experience for Global PayEX.

We are proud to have been a part of this event and can't wait to continue driving innovation in the world of B2B payments and working capital optimization.

Big News Reveal: WE WON!

Global PayEX is extremely honored to have won the Sibos Perfect Pitch Competition 2023 organized by Swift in the category Ambitious Adventurer.



Our team's relentless dedication to fintech innovation and excellence has once again been recognized on a global stage! This win is a testament to our commitment to revolutionize B2B finance with our AI-powered AR/AP automation solutions.



We would like to thank our entire team for their efforts, and to Sibos for this incredible opportunity.



A big shoutout to the esteemed judges: Rob Baldassare, Bill Doran, Ismail Khalil, and Gabriel Woo for this recognition.



Together, we'll continue to redefine the future of B2B payments and finance.



Stay tuned for more updates!

Big News Reveal: WE WON!



Global PayEX is extremely honored to have won the Sibos Perfect Pitch Competition 2023 organized by Swift in the category Ambitious Adventurer.



Our team's relentless dedication to fintech innovation and excellence has once again been recognized on a global stage! This win is a testament to our commitment to revolutionize B2B finance with our AI-powered AR/AP automation solutions.



We would like to thank our entire team for their efforts, and to Sibos for this incredible opportunity.



A big shoutout to the esteemed judges: Rob Baldassare, Bill Doran, Ismail Khalil, and Gabriel Woo for this recognition.



Together, we'll continue to redefine the future of B2B payments and finance.



Stay tuned for more updates!

We're thrilled to announce that Global PayEX will be presenting live today at 𝐃𝐢𝐬𝐜𝐨𝐯𝐞𝐫 𝐏𝐞𝐫𝐟𝐞𝐜𝐭 𝐏𝐢𝐭𝐜𝐡 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 at Sibos 2023.

We have been selected out of multiple entries from companies across the world.

Join us at the finals where, Efthymios Gkaitatzis, M.S. will be showcasing our innovative suite of AI-powered B2B payment solutions.

𝐕𝐞𝐧𝐮𝐞: Metro Toronto Convention Centre - Innotribe Stage.
𝐓𝐢𝐦𝐞: 15:00 EST
𝐃𝐚𝐭𝐞: Wednesday, September 20th

Special thanks to the judges from Swift, RBC, Mars, and Plug and Play Canada for recognizing our vision and ambition.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐨𝐮𝐫 𝐟𝐮𝐥𝐥 𝐩𝐢𝐭𝐜𝐡: (Link in comments)

Stay tuned for more updates!

What an amazing kick-off at Sibos 2023!

The FinTech hotspot, Toronto was buzzing with cutting-edge technologies and automation solutions.

Great conversations with finance leaders from around the world, delicious food and enriching connections with industry peers; it was everything we hoped for and so much more.

We heard some of the phenomenal leaders of McKinsey & Company, Microsoft, Citi and Swift discuss the hottest topics transforming the financial services industry now, next and beyond!

Looking forward to Day 3 today.

Stay tuned for more updates!

The wait is finally over!

The Global PayEX team is at Sibos 2023 in Toronto.

With the ever-increasing pace of fintech innovations, we understand it is more important than ever to identify ways together to reshape the future of B2B Payments for achieving business excellence.

Join us at the networking area and together let's revolutionize the payments landscape.

Meet our B2B finance automation expert Efthymios Gkaitatzis, M.S. at the event.

Book a meeting: (Link in comments)

See you there.

Stay tuned for more updates!

𝗛𝗮𝗳𝗲𝗹𝗲, an industry leader in providing hardware and fitting systems and electronic locking systems, experienced an 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲 𝗼𝗳 𝟳𝟰% 𝗶𝗻 𝗽𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝘃𝗶𝘁𝘆 using 𝗙𝗿𝗲𝗲𝗣𝗮𝘆.

Hafele has a long and rich history that began in 1923. Today, they serve 700+ dealers and distributor networks spread across 29 states all over India.

Previously, they relied heavily on manual processes for their collection and reconciliation processes. which significantly brought down their productivity and working capital efficiency.

Hafele adopted Global PayEX’𝘀 𝗘𝗜𝗣𝗣 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻: 𝗙𝗿𝗲𝗲𝗣𝗮𝘆, for automated reconciliation & collection process.

It helped them to streamline their processes so that their sales team could purely focus on sales and on maintaining an excellent relationship with dealers. Hafele was able to improve their DSO by 𝟮 𝗱𝗮𝘆𝘀 and save costs by 𝟭𝟯%.

Check out their amazing business transformation story - (Link in comments)