Currency support from the exchange experts: From start up to success
Whether it’s importing, exporting or expanding overseas, a business needs to be on top of its currency requirements to enjoy successful overseas operations.
Using the services of a foreign exchange specialist such as Moneycorp, the providers of CityAM International Payments, can save a business thousands. Moneycorp offer expert market guidance and bespoke tools to protect against exchange rate movements.
Moneycorp works with thousands of companies every year ranging from large multi-nationals to small start-ups. The experts at Moneycorp identify how best clients can manage their foreign exchange exposure and improve margins.
One of Moneycorp's many corporate clients is the Surrey based Benson’s Foods. They import canned fish from countries such as Thailand, Malaysia and Morocco to meet the demands of the British high street. Managing Director, Stephen Lewis, discusses the thinking behind the company’s international payments strategy:
“Due to the nature of our business, international payments need to be planned well in advance. The fish is ordered by British retailers at a pre-established price, with the produce then being sourced from our suppliers. This means that the wholesale price is confirmed up to a month before the fish is purchased from overseas markets.
It gives me peace of mind to lock-in a fixed foreign exchange rate, as it means we have total transparency when managing and aligning the buy-price and purchase-price of our imports.
It does not suit us to speculate on exchange rates. When buying tuna for example, between the time of order and the time of purchase, the US dollar could strengthen against the pound – making the transaction less profitable than originally thought.
We have been with Moneycorp since we were a start-up in 2010 and look forward to the continued support and guidance of its experts.”
Whether you're an established company or sharp start-up, if your business is thinking of looking overseas for import or export opportunities talk to the currency experts behind CityAM International Payments today. The friendly and highly professional help of Moneycorp could effortlessly save your business thousands every year.