A Personalised Travel Company That's Going Places
Founded in 1994, Travel Counsellors is the UK’s largest independent travel company providing personalised travel arrangements from accommodation reservations and flights to overseas weddings and honeymoons. With over 1,400 travel agents globally in the United Kingdom, Ireland, The Netherlands, Belgium, South Africa, Australia and the UAE, Travel Counsellors prides itself on providing a travel experience that creates lasting memories and enduring relationships with its customers worldwide.
In June of 2016, Travel Counsellors was named in The Sunday Times HSBC International Track 200 the track ranks Britain’s mid-market private companies with the fastest growing international sales. Placed 170th on the list, this is the company’s fourth time receiving the accolade having previously received in in 2011, 2012 and 2015.
International Payments solutions for a globally expanding player
Travel Counsellors is strengthening its global buying power through its continued success and expansion into international markets. With increased expansion comes a greater network of suppliers worldwide and the Finance Division of Travel Counsellors needs to ensure that its payment system is running efficiently.
A significant part of the company’s payment requirement involves foreign currency to pay its global suppliers of accommodation, car rental and holiday packages. Travel Counsellors chose FEXCO Corporate Payments as its partner to get the best value for its foreign exchange but also because of its ability to provide payment products that match the business’ particular requirements.
The payee authentication and query management tools provided by FEXCO quickly identify any invalid bank account data before payments are sent through the banking system and any queries regarding submitted payments are resolved swiftly. Large payment runs are hassle free with faster turnaround and Travel Counsellors’ payees receive an automated and tailored payment notification by email once funds have been released.
One of the many services provided to the business by FEXCO is the SEPA Direct Debit facility allowing the company to make settlement and payment in euros. The benefits to Travel Councellors are clear: “Before we partnered with FEXCO, euro invoices for our Ireland and Netherlands based businesses had to be processed through the UK branch, debited as Sterling. This made the entire process very time consuming for the accounts department. Now payment cycles are much shorter and we can focus more on growing our business and meeting our clients’ travel needs. Previous payment specialists were unable to provide us with this service” said Janie Billington, Company Accountant at Travel Counsellors.
"We are very pleased at the collaborative approach FEXCO has taken to address any payment issues we have. We never realised there were more cost effective methods when making international payments and our bank transfer fees alone have been significantly reduced as a result. The team at FEXCO are flexible, adapting their payment platform to suit our internal processes, and are always on standby to resolve any payment issues. This guarantees that we are receiving the greatest value and service for all of our domestic and foreign exchange payments."Janie Billington, Company Accountant, Travel Counsellors