Discover how Monex USA helped a textiles company achieve over 80% faster processing on international payments
As a leading provider of corporate foreign exchange (FX) and global payment solutions, we focus on understanding our client’s business to tailor our products and services to best manage their currency needs. The following case study illustrates how Monex USA was able to help a textiles manufacturer secure better market value using FX tools and services.
Scenario
A leading textile company in North Carolina, sourcing cotton, wool, and synthetic fabrics from Asia, Europe, and South America, pays over 200 suppliers monthly in 15+ currencies—totaling more than $5 million each month.
Challenge
Manual entry of each supplier’s payment was time-consuming and error-prone, often causing shipment delays and reconciliation headaches. The finance team lost around 40 hours monthly to data entry, and payment errors averaged $5,000 in troubleshooting costs per quarter.
Strategy
Monex USA’s Bulk Upload Solution was adopted to streamline supplier payments. The finance team now sends a single payment file (no custom formats needed) via a secure SFTP—whether for yarn shipments from Turkey or dye purchases from India. The tool validates each transaction and integrates with the company’s payment platform, and all payments are trackable in real-time.
Outcome
- >80% Faster Processing: Avg. monthly payment tasks dropped from 50+ hrs to 8 hrs.
- $45,000+ Saved Annually: Reduced error remediation and admin costs.
- No manual entry: On-time, accurate payments, securing crucial fabric shipments and building trust with partners.
- Scalable for Growth: As purchasing expanded, the same system handled higher volumes without adding staff.
For textile companies managing high-volume, multicurrency payments, Monex USA’s Bulk Upload delivers speed, savings, and peace of mind.
“Payments used to take countless hours of coordination, Monex has helped us reduce the headache.”
