Currency facility secured to reduce import costs and maintain stability
Hilton-Baird Financial Solutions has helped an established distributor of laboratory supplies to improve their margins by introducing a new commercial currency exchange provider.
As our client imports goods from suppliers in Europe, China and the USA, our team explored where they could add value in our role as a commercial finance broker, given the backdrop of volatile economic markets and trading conditions.
After gaining insight into our client, we quickly identified that the business was likely to benefit from comparing their existing currency provider’s exchange rates, charges and portal offering against the wider market.
The business’s currencies and values required for trade vary from month to month, so they were also interested in the forward purchase of US Dollars. Whilst their existing provider offered this, it was at a further cost and would require the added complication of an additional platform.
With this information in mind, our expert team introduced our client’s Finance Manager to a trusted commercial currency exchange partner, who approved a USD forward line for the business to protect against volatility, enabling them to budget more effectively.
Additionally, they analysed the currency rates charged by their incumbent provider and were able to offer savings on both costs and margin.
To explore the range of commercial currency exchange solutions available to your business, or to discuss any funding requirements your business has, call our team on 0800 9774833 or request a call back.