Wipro improved the F&A process efficiency for Global Payments, a leading payments processing company, through a zero-capex transaction-based pricing model

Client Background

Global Payments is a leading provider of electronic transaction processing services for merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi-national corporations globally. They also offer processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic cheque conversions and cheque guarantee, verification and recovery.

Industry Landscape

Payments processing is a service industry offering focused on providing end-to-end payment services to streamline everything from completing sales transactions and providing merchant support to information reporting, so that businesses can run more efficiently and profitably. This complex financial offering dwells on the premise of being able to offer lowest operating costs coupled with highest service excellence and hence is an extremely competitive market.

The Opportunity

Global Payments needed to minimize operational and Capex costs owing to competitive pressure in Brazil. On the other hand, they also wanted an F&A system that could scale to support their expansion plans. With their existing processes, they lacked KPI visibility and faced quality issues. The need of the hour was robust F&A and Payroll operations to support business and regulatory requirements in Brazil. They were also looking to extend and support front office functionalities in the future, with minimal cost increment.

Solution

Wipro partnered with Global Payments to deliver Finance and Accounting in a BPaaS (Business Process as a Service) model. Transcending the boundaries of technology, this service was truly aligned to Global Payments' operational and cost needs. Through a dynamically scalable Cloud-based ERP solution on the Net Suite platform, Wipro optimized Global Payments' Finance and Accounting process. This led to reduced complexity in end-to-end processing of billions of payment cards, cheques and eCommerce transactions worldwide.

Solution highlights include:

• People, process and technology combined seamlessly in a single solution
• Cloud-powered ERP application, technology infrastructure, human capital and advisory
• End-to-end execution of Finance, Accounting and Payroll business process that covers Accounts Payable, Accounts Receivable, Taxes, General Ledger, Fixed Assets, and Treasury
  
• Integration with local taxation and payroll systems
• Fully compliant with Brazilian tax and legal structure
• Flexibility to support client’s growth from current state to full maturity

Business Impact

• Time to market – solution implementation in a span of less than 5 months leading to early realization of ROI
• Regulatory adherence – through optimized and strengthened back office
• Innovative business model – a zero-capex transaction-based pricing model
• Improved operational efficiency and quality – providing a service efficiency of over 99.5%
• Reduced Total Cost of Ownership (TCO) – with savings visible in the very first year