Rapid growth is a nice challenge to have. Nevertheless, Kendall Weissmueller, Corporate Controller, Galls, knew that the company’s finance team needed to upgrade its treasury technology to better support the organisation’s billion-dollar growth plans. Bottomline TreasuryXpress was on hand to help.
When a business with ambition feels held back by its technology, you know change is on its way. And for Galls, a leading US supplier and retailer of public safety equipment and uniforms, a system upgrade couldn’t come soon enough.
The 50-year-old private equity-backed company has a one million-strong US-based individual customer base drawn from across the country’s key first-response agencies and departments. With the declaration, ‘Proud to serve America’s public safety professionals’ to the fore, Galls has seen rapid, mainly acquisition-based growth in the past few years. By adding around 20 companies to the group in just six years, it has expanded 10 retail sites to 80, propelling revenues from around $150m to well over $500m.
While entirely welcome commercially, such progress added some “technological complexity”, admits Weissmueller. In particular, although the firm had been operating a simple banking structure, its high and rising transaction volumes were beginning to severely stretch existing processes around cash visibility, reconciliations, reporting and business intelligence.