Company overview

VeryChic is an upscale, online travel agency specialised in high-end stays in France, Southern Europe, the Caribbean, the United States, Asia, the Seychelles and the Maldives. 

In 2017, Accor became the main VeryChic shareholder. In the wake of the pandemic, the agency showed resilience as it created new interfaces aimed at more immersive travel experiences.

Currency management challenges

Before Kantox, VeryChic wasn’t managing currencies or FX risk at all. When they began searching for a solution, they were initially on the lookout for a better payments solution, and that’s where the journey began.

At the same time, FX gains and losses were quietly building up between the moment transactions were agreed and when they were actually settled. It quickly became clear that they didn’t just need a payment tool, they needed real FX protection too.

The biggest hurdle? VeryChic didn’t have a treasury department or a team of FX specialists. They needed something simple, streamlined, and easy to run without a lot of extra resources. That’s exactly what led them to Kantox, a solution built to make payments and FX management effortless.

Selecting the FX partner

It didn’t take long for VeryChic to realise Kantox was the right choice. From the start, having access to a French-speaking implementation and support team made communication easier and helped build trust right away.

Those managing FX appreciated how straightforward the software was. It was easy to install, easy to manage, and took a lot of complexity off their plate. 

The Kantox impact

VeryChic uses Kantox to handle payments to its partners, hotels and local travel agencies. The reliability of the solution was paramount because it ensures that transfers and payments always arrive on time for hotels and partners.. 

Beneficiaries are always notified when a payment is on the way. It’s a small detail that makes a big difference, helping VeryChic keep communication clear and smooth with partners across the board.

When it comes to FX risk, Kantox’s solution takes care of everything. Each month, VeryChic managers just have to verify that no FX losses are generated, saving time, money, and a lot of stress.

Overall, the system just works. Now, managers have to spend very little time on FX management. Kantox handles all the operational heavy lifting, making sure hotels, travel agencies, and partners are paid correctly, without generating FX gains and losses.