However, some companies shy away from the exchange rate risks that arise and the additional effort of administering multiple currency accounts. Currency UK can help deliver all of the benefits of local currency invoicing and take away all the headaches.
- Your company can use Currency UK's treasury management services (particularly our foreign currency accounts) to collect your invoice payments. This removes the necessity for you to operate your own currency accounts.
- You can make use of forward contracts to mitigate the exchange rate risks between issuing an invoice and receiving payment for it.
- Your customers do not have to deal with the complexities of a foreign currency invoice, reducing payment times for you.
- You have direct control and the ability to market your products and services in overseas markets at directly comparable prices to local competition.
- You can avoid handling minor but time-consuming invoice discrepancies caused by foreign currency payments being paid directly into your domestic accounts at your banks un-competitive exchange rates.
The potential cost savings/margin increases that the above benefits could bring you are significant, and could contribute enormously to your operations profitability. Our brokers have experience in delivering these solutions to a wide range of companies and industries. Please feel free to contact us to pick our brains.