Case Study: Bamboo Systems

Bamboo Systems is a Cambridge-based provider of ARM-based server-class platform – which, thanks to patented technology, uses a fraction of the energy and space of traditional servers to deliver high throughput computing. They have offices and partners across the world selling their award-winning servers.

A fast-growing number of payments at home and abroad

With a base in the UK in tandem with operations in the US, Bamboo Systems is left to move money from GBP to US Dollars. So, it was key to deliver this at a beneficial rate – to help them continue to grow the company. Bamboo needed to transfer not only payroll payments, but payments for their US suppliers. And it was necessary to address the increased demand for more environmentally-friendly technology, which has inevitably led to more staff, more suppliers, and more of a need to find solutions to allow the business to better focus on its projects.

Saving a bit of green with the Caxton Account

Bamboo found the partner it needed in Caxton, as we have delivered a solution that allows them to focus on greener technologies – instead of how much green they were losing while converting currencies. With Caxton’s platform, Bamboo was able to quickly and easily convert their GBP to US Dollars and send the money to their US branches and suppliers. Previously, these processes were done via Bamboo Systems’ bank, a rather time consuming and expensive process.

As business continues to quickly grow for Bamboo, the company is able to trust that Caxton‘s platform can scale with them and provide complete transparency for all of their inter-company transfers and supplier payments in one convenient place. This helps save valuable admin time in the office, and provides peace of mind outside of it.

The Caxton online account also gives them the option to receive international payments, hold up to 28 different currencies (without any charge), and convert back to sterling with no fees. In turn, Bamboo Systems continues to save time and, more importantly, money too – something their bank didn’t cater to.

Mike Ford, Head of Finance said, “Working with Caxton has been a great experience, their team really understood our business and payments model. Having the ability to pay suppliers and receive international payments via one platform has reduced the time and costs associated. Also, having my own account manager means I can speak to them anytime if I need too.”

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