Payoneer’s mission is to empower businesses to go beyond – beyond borders, limits and expectations. In today’s digital world, Payoneer’s platform streamlines global commerce for millions of businesses from 190 countries and territories, delivering a suite of services that includes cross-border payments, working capital, tax solutions, merchant services and risk management. The company has more than five million customers worldwide supported by 2,000+ staff across 24 offices.
As a large organization, Payoneer needed a reliable solution for gaining control over the hundreds of SaaS applications used across its network. The company became one of the first adopters of a new category of SaaS Management tools having deployed Torii in 2016.
Before Torii, Payoneer had a manual process in place to manage its SaaS applications, systems and software, exposing the company to potential errors and inefficiencies.
As a continuously growing company - both organically and through acquisitions - Payoneer experienced increased software spend and tool redundancy. The company accumulated licenses and subscriptions for applications with overlapping functionality, driving up SaaS costs. For instance, Payoneer is a power user of Microsoft’s Office 365, which includes the collaboration solution, Microsoft Teams. Yet multiple teams across the company were also using Slack for communication and collaboration.
Since the IT department and the lines of business share responsibility for control over applications within Payoneer, the company’s goal was to have a single place where its entire SaaS universe could be viewed and managed. By centralizing the management of all the applications, Payoneer aimed to reduce exposure to any potential security risks or compliance issues.
“Torii became a big part of our security plan within Payoneer,” explains Ron Peres, Sr. Director, Global Corporate IT & Information Systems at Payoneer. “We want to have our data spread across as few systems as possible.”
Payoneer uses more than 800 applications across its business. With Torii, Payoneer has seen some major benefits: