More NewsIMX Software Provides POS Software for P&O Ferries

IMX Software Provides POS Software for P&O Ferries

IMX, a banknote trading and travel money technology solutions provider, has entered into a trial with P&O Ferries, the UK’s cross-Channel shipping line. The trial will see IMX’s point-of-sale (POS) solution deployed onboard P&O’s ferry, The Pride of Canterbury, to manage its foreign currency transactions.

IMX’s POS system has online-offline capability which will allow the foreign currency bureau onboard P&O Ferries’ ships to trade more effectively when out at sea where there is no internet connection available. An uplink capability allows transaction information being sent from shore to ship and vice versa to be held locally in a queuing system until the ship reaches an area where it can connect to the internet.

Previously, P&O Ferries had to manually send all transactional and stock position information paperwork back to shore where the head office would have to manually re-key this same information into their back office systems. The same applied to foreign exchange (FX) rates, which can now be automatically updated as soon as the ship is able to obtain a data connection to the internet. This automated connectivity allows the head office better control over FX rates, thereby maximising revenues.

Joe Ciantar, head of financial services at P&O Ferries, said: “We are delighted to have finally found a partner to provide the online-offline capability that we had been searching for. Working with IMX Software will allow our on-board foreign exchange bureau to operate more efficiently, saving our staff time and delivering a better service to our customers. The Pride of Canterbury is one of our busiest ships so the potential benefits are very large.”

P&O Ferries plan to roll out IMX’s POS system aboard all of its 21 ships that sail on international routes after the initial trial period.

Related Articles

Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

3m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

4m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

4m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

4m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

4m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

4m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

5m Tasja Botha
FX for corporates: 5 best practices for treasurers

Economy FX for corporates: 5 best practices for treasurers

5m Mateo Graziosi