P&O Ferries, the leading cross channel ferry operator with the largest UK fleet of ships, has on-boarded IMX Software’s new generation foreign currency point-of-sale and trading compliance solution under a five-year managed services agreement. A key consideration for P&O was to be able to trade ‘offline’ while sailing and to reliably synchronise trading and reference data upon reconnection in port.
The project has seen IMX Software’s GTS-Retail software solution implemented on board the entire P&O fleet of 15 ships; servicing routes across the North Sea, the Irish Sea and the English Channel. The implementation of GTS is expected to drive growth in retail foreign exchange sales to customers through faster transaction times with significantly improved back-office reporting and inventory management. The ferry operator selected IMX’s Software-as-a-Service (SaaS) offering to minimise internal IT impact, whilst integrating with P&O’s current IMX Reserve&Collect service which enables customers to pre-book currency through its website for on-board collection.
GTS-Retail is a modern, easy-to-use, multi-language point of sale system enabling forex providers to serve customers quickly, while efficiently managing their compliance obligations and inventory. Centralized administration and reporting provide a clear view of performance and ensure that trading, AML, KYC and other business-specific rules are enforced. IMX Software is the global leader in currency trading and travel money technology.
P&O Ferries, voted Best Ferry Company and Favourite Ferry Company by consumers at the Globe Travel Awards 2016, 2017 & 2018, already has a strong on-board Foreign Exchange business but needed to upgrade the technology platform to the latest standards of security, AML/KYC processes and reporting.
IMX Software’s SaaS-based solution will help P&O Ferries boost transaction turnover and lower internal operating costs, allowing better management control and optimisation of stock levels. The solution will enable P&O to improve accuracy and speed up transaction times at the point of sale.
Says Ian Goodall, CEO of IMX Software: “We’re always working with our clients to identify investment opportunities that offer our customers a better travel money experience. This successful project supports that goal through delivering an improved retail foreign exchange service whilst increasing operating controls and compliance reporting.”
Bill Tickner, Chief Commercial Officer of IMX Software’s new parent company Infinea, commented: “P&O has been an important customer of IMX for over 10 years and our team is pleased to continue supporting its growth plans with our newest software-as-a-service solution for on-board sales, whilst improving transaction times and data management via GTS-Retail’s unique offline technology. In addition, the enhanced automation of compliance and risk processes will allow P&O’s on-board sales team to focus on engaging with the customer and maximizing the transaction value.”