Case Study: Geomedia achieves automated, fraud-free payments, 5-minute reconciliations and 50% finance-staff reduction with Edenred Pay

Media company gains efficiencies and competitive edge by automating payments through CSI Paysystems

Geomedia, a Toronto-based data analytics and media company, faced growing internal finance inefficiencies as transaction volume rose: its six-person finance team spent the equivalent of a week per month on cheque runs, up to 30 minutes a day on bank reconciliations, and suffered high bank fees and cheque fraud. To address this, Geomedia adopted Edenred Pay’s CSI Paysystems (integrated with its Advantage accounting system) to automate vendor payments and improve control.

Edenred Pay automated vendor onboarding and payments—55% of vendors enrolled, capturing 70% of spend—and issued single-use virtual credit card numbers for each payment, eliminating cheque fraud and speeding delivery (payments generated within 30 minutes). The result: reconciliations fell from ~30 minutes to 5 minutes per day, finance headcount was reduced or reassigned by 50% (from six to three) while revenues grew 23%, and rebate revenue from Edenred Pay’s program was passed back to customers so Geomedia maintained competitive pricing.

Geomedia

Mike Ulrich

Chief Financial Officer