Corpay, a FLEETCOR brand and global leader in business payments, announced the latest expansion of Corpay’s Cross-Border business with the opening of a new back-office support centre in Chennai, India.
This move marks a significant milestone in the company’s ongoing global growth and strengthens its commitment to serving internal stakeholders, a statement said.
The newly established office in Chennai, Tamil Nadu, India, will function as a central service hub. Phase one encompasses seven critical business functions:
- Financial Planning and Analytics: Facilitating revenue and financial analysis.
- Data and Business Intelligence: Facilitating preparation of reports and dashboards.
- Sales variable compensation: Streamlining payrolls across different regions and time zones.
- CRM: Developing, supporting, and administering CRM software.
- Credit Underwriting: Scaling global underwriting capabilities.
- Client Support: Digital client support and coverage.
- Strategy and M&A: Analyst support for strategic growth of Corpay and M&A activities.
This move will empower Corpay to scale faster and underscores the company’s dedication to elevating its support for existing clients.
“The establishment of our office in Chennai enables us to harness India’s flourishing economy and its status as the fastest-growing major economy in the coming years, along with its diverse array of opportunities,” says Aravind Thirunavukkarasu, Chief Data and Analytics Officer, Corpay’s Cross-Border Solutions and Managing Director of Corpay India. “As a successful Fintech and one of the fastest growing non-bank providers of cross-border payments solutions globally, the timing is right for us to expand support operations into India. The inclusion of the back-office in India strengthens our global footprint, which now spans North America, Europe, the UK, and the Asia-Pacific region, and enhances our operational efficiency allowing us to deliver exceptional service and experiences to our clients. Meanwhile, it aids us in recruiting local talent, strategically positioning us to seize future opportunities.”
India is a Fintech powerhouse, ranking only behind the US and the UK in terms of raising funding for Fintech companies in 2022. India’s unique demographic advantage is evident with more than one third of its population being classified as the countries “youngest” working population, which provides a solid foundation for the company to harness the potential of this dynamic pool of young and energetic talent. Acknowledging the immense potential within this demographic, Corpay Cross-Border is actively working to expand its team by recruiting local talent, particularly in critical areas of FP&A analysts, M&A associates, CRM professionals, customer support and credit functions. This strategic approach is aimed at driving the company’s future growth and development in the region, according to the statement.
“We are extremely excited about the opening of our new office in Chennai. This expansion reaffirms our commitment to global excellence and our unwavering belief in the vast potential of the Indian and Asia-Pacific markets,” said Mark Frey, Group President, Corpay’s Cross-Border Solutions. “Our hope is that this new office will help our team gain an in-depth understanding of this and surrounding markets, while also opening up new avenues for us to attract talented professionals who aspire to be part of a dynamic and forward-thinking organization.”
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