Currencycloud Supports Its Global Payments Platform with an Integrated Technology Stack

Currencycloud designs and develops financial application programming interfaces (APIs)—software code that allows third parties to access software functionality—to help companies accept and send funds cross border. The organisation supports banks, fintech companies and foreign exchange brokers with payment and conversion APIs that automate end-to-end payment processes, allowing clients to collect, convert, pay and manage funds more efficiently. Currencycloud’s international expansion demanded more integration across its multi-unit business. Adopting NetSuite OneWorld laid a foundation for growth.


Currencycloud

Company

Currencycloud

Location

London, UK

Industry

Software

EMPLOYEES

281

REVENUE

£27M

Number of SUBSIDIARIES

8

SYSTEMS REPLACED

Sage 50, Sugar CRM

NETSUITE PRODUCTS IMPLEMENTED

ERP
NetSuite OneWorld


“We wanted a more sophisticated ERP system. We wanted something future-proof. NetSuite provided those benefits.” Jason Cheng, Finance BI Manager, Currencycloud

Currencycloud Goes Global

Year-on-year growth
Currencycloud’s payments platform, banking relationships and compliance status allow it to serve clients in the UK, the Netherlands, Canada and various states in the U.S. These markets—and the platform's reliability—have propelled year-over-year growth since 2017 and resulted £27 million of revenue in 2019.
Multi-unit challenges
When expansion led to new commercial models and a more comprehensive product offering, Currencycloud needed a more robust ERP system with which to integrate its third-party dunning and sales software. This would make its sales and invoicing processes smoother, as well as provide advanced financial reporting and GDPR compliance.
Invoices made easy
Currencycloud integrated NetSuite OneWorld with its third-party dunning software and its CRM system, Salesforce. With the new, integrated technology stack, the team customised a workflow to automate a slow, manual invoicing process. The solution makes use of real-time information in NetSuite, as well as batch uploads and deliveries.
Sparking growth
Currencycloud is bringing new features to market, such as a payment collection product Spark, launched in Q2 2020. Other initiatives, including a multi-layered customer services team, more bank partnerships and acceptance of additional currencies, positioning the company to exceed customer expectations.
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