Gallagher Fluid Seals, Inc.

90% of check spend moved to digital payment methods

Gallagher Fluid Seals, Inc. knew their payments were heavily manual and wanted a new solution to save time and increase revenue. Service First Processor (SFP), a trusted credit card service provider of Gallagher, recommended their partner AP Payments as a Service solution, Finexio. Soon, SFP and Finexio were able to shift these manual check processes onto digital payments so that suppliers could get paid faster. Gallagher was also able to gain additional revenue opportunities from suppliers switching over to electronic payment methods.

Read the Full Story

Finexio customer since

2021

Gallagher Fluid Seals, Inc. is a global distributor and manufacturer of fluid sealing products, such as O-Rings in addition to providing engineering solutions and fabrication of custom gaskets.

Before Finexio

The Challenges

Gallagher Fluid Seals, Inc. worked off inefficient, manual credit card processes before working with Service First Processor (SFP)’s partner solution, Finexio. Gallagher’s productivity was at an all-time low, with 3-4 hours spent on cutting and signing checks, filing invoices away, and two whole days spent performing check runs.

Wasted Time

CFO spent hours signing paper checks weekly

Lacking Innovation

Gallagher Fluid Seals, Inc.’s AP process was very manual and wanted to remove these barriers by searching for an AP automation solution

Paper Check Dependency

Accounts payable was experiencing cumbersome processes surrounding checks

With Finexio

The Solutions

When Gallagher Fluid Seals, Inc. came to Service First Processor (SFP) about upgrading their AP solution, SFP recommended their partner solution, Finexio. Finexio’s AP Payments as a Service would provide the increased productivity that Gallagher was seeking, decrease manual check processing and check runs, and eliminate the need to hire additional headcount.

Seamless Collaboration

SFP and Finexio worked harmoniously to ensure no stone was left unturned in optimizing AP payments

Optimized Communication

SFP and Finexio worked tirelessly to improve communication with Gallagher’s suppliers to foster higher digital payment acceptance rates

Holistic Process Improvement

SFP and Finexio worked together to eliminate the need for Gallagher to perform check-runs and helped move suppliers onto digital payments

The Results

Service First Provider (SFP) and Finexio worked harmoniously to convert Gallagher Fluid Seals, Inc.’s suppliers to electronic payment solutions, so they could be paid sooner. In addition, this move to revenue-generating electronic payments offset the investment in this service on top of the time savings.