DermaPACK's Wallex Journey: Packaging Innovation Meets Financial Agility

🔑 Download Full Case Study: DermaPACK's Wallex Journey

The Background

DermaPACK is a leading provider of packaging solutions for the cosmetics and pharmaceutical industries in Southeast Asia, establishing itself as a crucial player in the region's supply chain.

As the company expanded its operations and client base, the need became apparent for a reliable cross-border payments provider to streamline DermaPACK’s growing international transactions, particularly with their key suppliers in China and Vietnam.

🔑 Read More: Inside Look: Businesses Who Transformed Their Cross-Border Payments Experience With Wallex

The Challenge

DermaPACK initially relied on traditional remittance methods for their cross-border needs. However, they soon recognised that these conventional methods would no longer suffice as they worked toward achieving their business goals of scaling operations, improving supplier relationships, and enhancing financial efficiency.

This realisation prompted DermaPACK to explore alternative options that could better align with their vision for the future and support their strategic objectives in an increasingly globalised business landscape.

Slow processing times

DermaPACK experienced delays in payments to their suppliers due to the lengthy processing times of at least 2 days associated with traditional remittance methods.

This sluggish pace could have strained relationships with crucial partners in China and Vietnam, potentially affecting DermaPACK's supply chain and production schedules.

High transaction costs

Significant expenses were incurred due to unfavourable currency conversion rates, particularly when making international payments to suppliers in China and Vietnam. Traditional remittance methods often involve multiple intermediaries, each charging fees, which can substantially erode profit margins.

These high costs impacted DermaPACK's ability to maintain competitive pricing for their packaging solutions.

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Limited transparency

DermaPACK had to grapple with a lack of visibility into the status of their international transactions. Traditional methods often provide limited information behind the processes of tracking funds, making it difficult for the company to manage cash flow effectively and respond to supplier inquiries about payment status.

Lack of convenience

Traditional methods offered limited options for making cross-border payments, often requiring time-consuming manual processes such as manually scheduling a meeting to facilitate the transaction.

This lack of convenience hindered DermaPACK's operational efficiency, diverting valuable time and resources from core business activities.

The #SwitchtoWallex

Recognising the limitations of traditional remittance methods, DermaPACK sought a more sophisticated cross-border payment solution to align with their ambitious growth plans.

As Asia's leading B2B cross-border FX and payments specialist, Wallex has transformed the way businesses handle international transactions across 46 currencies in over 180 countries. Our secure, efficient platform empowers companies of all sizes to plan, manage, and hedge their FX needs with confidence.

Don't just take our word for it - read the full DermaPACK case study here to discover the tangible impact Wallex can have on your business operations.

Connect with us today and experience the Wallex difference!