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TECHNOLOGY
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Thales Canada Inc.
6
corridors. Ontario will invest up to $12 million to
support the project.
“It’s really an evolution of how we’ve been
successful in the past. We have a long track
record of providing advanced train control
and we’ve had a lot of success internationally,”
Halinaty begins.
The integral partnership with the Ontario
government will provide Thales an opportunity to
evolve train control in a number of critical areas.
Increasing efficiencies and cost effectiveness are
two vital aspects that Halinaty knows are essential
for his company to remain competitive. But per-
haps most importantly it’s an ability to introduce
Top companies use working capital to fuel growth
By Paul Parisi, VP & GM, Global Commercial Payments, American Express Canada
Smart companies look at working capital more broadly than just maintaining cash-flow. They use it as a
lever for business growth. Optimizing working capital allows for better liquidity, which can be re-invested
into growth initiatives.
At American Express, we view expense management as untapped business potential. Our custom
programs and innovative solutions equip our customers with buying power, enabling them to turn cost
efficiencies into bottom line savings and top line growth opportunities. For example, we have a cus-
tomer processing single transactions north of $25M looking to us to help optimize their working capital.
We have a manufacturer client we’re helping to completely outsource payables to generate value across
every payment. The list goes on. No business is one-size-fits-all and some companies require customized
solutions to meet specific business needs.
One of the largest pitfalls I see companies make is to accept their current processes because that’s
how it has always been done. This is especially evident when it comes to eliminating paper cheques. In
many cases, the three-way matching and traditional reconciliation with paper cheques is unnecessary and
requires a lot of manual effort.
Instead, imagine a business without cheques. That’s the vision of one of our corporate clients- a
company who went from a $20M dollar per week cheque run to nearly eliminating cheques completely.
This resulted in greater reconciliation efficiencies, better tracking and control, reduced fraud risk, and
improved cash flow.
By focusing on the elimination of cheque processing, improvement of Accounts Payable processes,
cost savings and overall cash flow improvement, companies can use working capital to seize the next big
opportunity. These forward-thinking businesses recognize that how they manage their capital today will
define their competitive position tomorrow.
“It’s really an evolution of how
we’ve been successful in the
past. We have a long track
record of providing advanced
train control and we’ve had a
lot of success internationally.”
– Mark Halinaty, CEO,
Thales Canada Inc.
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