Project Description

Before, Five Guys made 1,000 individual payments monthly. Now, it’s only 60 batch payments.

(Music up)

Narrator: Katy Eldridge, Corporate Finance Treasurer, Five Guys Burgers and Fries

“Five Guys was founded in Arlington, Virginia.”

“It is a family-owned company that does quick service, quality burgers, hot dogs and fries.”

“Five Guys has 1,400 worldwide locations. About two thirds are franchised-owned, and a third is corporate-owned.”

“Five Guys is currently in eight countries outside of the United States; we are in Europe, and the Middle East, predominantly, and our intention is to grow the brand as rapidly as possible.”

“When Five Guys was first doing international payments, we were using global wires, or foreign exchange wires, and now we’re using ACH payments for as much as we can.”

“Global ACH payments has given us the ability to go from making up to 1,000 payments a month, internationally, to 60 payments a month.”

“If we were making payments via wire, it would be one wire for every beneficiary that we need to pay, as opposed to one ACH for several beneficiaries.”

“ACH is a couple dollars, as opposed to $35 to $40 per wire, and when you have to do single wires that adds up.”

“Global ACH has made our process more efficient and cost-effective by limiting the amount of payments that we have to make each month, and automating the process, which helps the department reconcile all of our payments.”

“Global Payments have definitely given us the ability to have fewer hands in the pot, so to speak.  I do approvals, I have someone else initiating that has the information, but it definitely keeps down on the labor dollar.”

(Closing music)