Optal, a global leader in optimising B2B transactions, demonstrated its continued market success this week after being placed in the top third of a prestigious list of the UK’s best-performing companies.
Now in its 10th year, the Sunday Times HSBC International Track 200 ranks Britain’s mid-market private firms with the fastest-growing international sales, measured over their latest two years of available accounts.
This year, Optal improved on its 2018 position by claiming 64th spot, placing it alongside well-known brands such as high street sushi chain Wasabi, online sports retailer Wiggle, and Scottish brewery Brewdog.
To qualify, firms must have average international sales growth in the previous two years of at least 25%. Optal’s was more than 73% over the period.
“We’re thrilled to have been recognised yet again as one of the UK’s fastest-growing private companies in terms of international sales. Our innovative approach to B2B payments optimisation offers tremendous value to companies of all shapes and sizes, operating all over the world,” said Andrew Downes, General Manager Optal.
“It’s an area that has been overlooked for too long. We’re putting that right with our Virtual Account Number (VAN) and Invapay solutions, offering firms the chance to streamline payment processes, mitigate fraud and security risk, unleash working capital and turn costs into revenue.”
Optal VANs are 16-digit, single-use card numbers that facilitate seamless and secure payments to suppliers, stripping away the costs and risk of manual error that plague legacy methods like cheques and BACS.
Nearly three-quarters (73%) of FTSE 350 finance leaders believe a low cost, low risk B2B payments platform like VANs would be appealing, according to Optal research.
Optal’s Invapay business enables firms to use corporate credit cards to pay suppliers that don’t accept this form of payment — in so doing, extending their days payable outstanding to maximise working capital.
Over the past few months, Optal has also been recognised on the Sunday Times Grant Thornton Top Track 250, the FT’s inaugural Future 100 list, and the FT 1000 list of Europe’s fastest-growing companies, as well as the Sunday Times Tech Track 100, and other industry league tables.