A creative agency receiving international invoice payments
Due to the scale and complexity of some of their projects Uncommon find themselves working with individuals and businesses from all over the world and therefore currency and different exchange rates need to be taken into account. As a result, there can be uncertainty in terms of the final cost of the project as fluctuations in exchanges could increase costs, making the project less profitable.
Before working with Currency//UK Uncommon would think about the foreign exchange implications when invoices were due for payment, this however runs the risk of nasty surprises if market movements have caused profit margins to be significantly reduced or wiped out.
However since coming onboard with Currency//UK they are able to consider the foreign exchange costs from the start of the process and factor this in when negotiating prices. Now when providing quotes to potential clients they work with Currency//UK to add in a margin to protect them against fluctuations in the market.
Currency//UK are also able to lock in exchange rates meaning that Uncommon can secure an exchange rate when issuing an invoice and still receive that amount even if the exchange rate moves against them by the time the invoice is due to be paid by the client.
Through our ability to receive payments on Uncommon’s behalf in different currencies and support them with protecting their bottom line we can act as an extension of their accounts team ensuring they can continue to deliver high quality projects to global clients without having to worry about exchange rate fluctuations damaging their profits.