HJS Packaging & Distribution Relies on Airwallex to Simplify Moving Money Across its Global Supply Chain
HJS relies on Airwallex for its expertise in global banking and foreign exchange to help the company simplify, reduce the cost, and improve the efficiency of its global distribution and fulfillment services.
Eliminated unnecessary relationships
with a multitude of banks
Stronger Vendor Relationship
HJS helps companies improve efficiency and increase profits through innovative solutions in inventory management, global distribution, and order fulfillment services.
Inventory management and global distribution
10 - 50 employees
HJS is a supply chain management and distribution company in Milwaukee, Wisconsin. The company has eight warehouses in the U.S. and several internationally including one in The Netherlands and Hong Kong. It’s banking relationships are complex, requiring the company to pay and receive funds in U.S. dollars (USD), Canadian dollars (CAD), and Euros (EUR). Before switching to Airwallex the company had accounts with the Bank of Montreal, Rabobank (a Dutch multinational), and Johnson Bank in Racine, Wisconsin.
HJS handles the vendor relationships for large corporations with dealerships. The company fulfills orders routed from dealers to the parent firm and ensures timely deliver by using its global network of warehouses.
Vice President, HJS Packaging and Distribution
Airwallex will save us $150,000 to $180,000 annually in hidden FX markups compared to traditional banking service providers.
A focus on continuous process improvement leads to Airwallex
Dean Beck joined HJS as the CFO. His first order of business was learning the company’s ERP system, with the goal of improving internal processes and boosting efficiency. That focus on continuous improvement led him to Airwallex. “We were looking to simplify payment processing and foreign currency exchanges as we grew our international business,” he explains. HJS first started doing business in Canada about four years ago, moving into Europe and Asia two years later. “We were following our main customer as it expanded globally,” continues Dean, “and we needed to develop foreign currency expertise to meet their needs. Those needs included foreign currency transactions within the HJS system and foreign currency translation, as well as moving money internationally between Euros, CAD, and USD.
Airwallex simplifies and reduces the cost of moving money
“We had to find banks in Canada, the U.S. and Europe,” notes Dean, “and people with foreign currency expertise.” HJS spent a lot of time searching for and partnering with third-party resources, which meant a growing portfolio of relationships that needed to be managed. Airwallex allowed the company to eliminate some of those relationships, simplifying operations. “With Airwallex,” he says, “we have one website where we can do everything it took three people to do before.”
The Airwallex solution
Unlike the complexity of working with multiple banks, with one phone call to Airwallex, HJS had Canadian and European bank accounts set up and ready to go. The Airwallex solution includes:
Predictable pricing — CAD and EUR markups at a flat 0.40%
Global Accounts — Local CAD, EUR, and USD bank accounts for receiving payments from customers while avoiding EUR negative interest rate penalties for holding a balance
Wallet — the ability to take advantage of favorable CAD/USD, CAD/EUR, or USD/EURO exchange rates and hold balances for future payouts
Cards — instantly create virtual and physical Visa-issued company and employee cards tied to Apple Pay/Google Pay to avoid 3% markups on exchange rates with credit cards
Vice President, HJS Packaging and Distribution
Airwallex is an expert in foreign banking. They are banking and foreign currency simplified.
What users say about Airwallex
“Airwallex has been a game changer for all our banking needs. As a fast-growing startup, we need a scalable yet cost-efficient batch payment solution to pay our employees and vendors both inside and outside Hong Kong. Airwallex helps us save money on every bank transfer with their near-zero transaction fee and market-beating FX rates. We also use Airwallex’s multi-currency Visa cards for business travel expenses and SaaS subscriptions to avoid hidden bank fees that would otherwise have been difficult to spot. Would highly recommend other startups to get started with Airwallex!"
“Airwallex has been great for our team - it makes payments and transfers so much easier, and has saved us significant amounts of time compared to what we were doing before with HSBC. Airwallex's platform is easy to use and very intuitive. Airwallex virtual card has solved most of our painpoints with sharing corporate card numbers and credit card limits. The best part is being able to save money on all our monthly bank transfers, and we've already saved thousands of dollars by using Airwallex. Airwallex's support has also been highly responsive to troubleshoot any issues in a timely manner.
Co-founder & COO, Forkast.News
“Airwallex provides us with flexibility and cost savings in dealing internationally. We used Airwallex to receive our recent global fundraising round and pay international suppliers and are saving at least 5% per dollar transferred versus the big banks.”
George van Dyck
Finance Manager, Zoomo
“Airwallex has been a game changer for us. I cannot recommend these guys enough. The forex services are super efficient and super competitive. The customer service is not gold-plated, it's solid gold. One of the best eCommerce services for merchants we have come across since PayPal hit the scene 20 years ago."
CEO, Cosmetics Now – eCommerce
“Having all our global SaaS subscriptions in one place has streamlined our finance processes and enabled better tracking and control of expenses. It’s even better knowing that Airwallex isn’t hitting us with any international transaction fees.”
Chief Operating Officer, Dovetail – Digital Agency
“Airwallex is our one-stop shop for all our banking needs, in one easy-to-use interface. Without Airwallex, we would not have been able to scale our business as fast as what we’ve been able to achieve.”
Andrew Ford and Rosa-Clare Willis
Co-founders, Crockd – eCommerce
“Airwallex saves us $40,000 annually in collections costs from our sales on Amazon, which is the majority of our sales in the U.S. market. It also allows us to ‘repurpose’ our international currencies. For example, if we sell in Europe we can pay European suppliers in Euros as well. There’s no need to ‘double convert."