Creating a business FX strategy - everything you need to know
In an increasingly global business market, few firms remain unaffected by issues related to sending and receiving money overseas, and foreign exchange fluctuations, especially now, when so many countries are seeing the impact of coronavirus on their economies.
Yet, globalisation means that more businesses are paying overseas suppliers and workers, while accepting payments in foreign currencies from customers and business partners. This inevitably means dealing with currency exchange and the associated business challenges.
To tackle those challenges, small to medium sized businesses first need to understand how FX works and the ways in which it can impact their operations. Which is why CurrencyFair has created a downloadable FX guide for businesses just like yours.
In our free guide, you’ll discover everything you need to know about currency exchange and how it can affect your business, including strategies you can use, to gain real business benefits from the way you manage FX and overseas payments.
If you’re thinking about expanding into overseas markets, or are already involved in cross-border trade in any way, we recommend you download the guide today to unlock valuable insights into the world of foreign exchange and international payments.
Valuable learnings for your overseas business
The guide kicks off with an introduction to currency basics, the FX market and how movements in international currency exchange rates can affect your business, both positively and negatively. Importantly, we’ll expand on the mechanisms you can put into action to counteract the negative impacts and benefit from the upside.
Along the way we’ll see the importance of developing a currency management system across your entire organisation that fits your business model and meets the unique needs of your operations. In doing so, you’ll be able to put in place the tools and strategy needed not just to protect your business, but empower it from a FX perspective.
You’ll learn about the currency risks businesses face when operating in foreign markets, and what can be done to mitigate them, including the reporting tools and processes needed to continually refine and optimise FX strategy to predict trends and cut costs.
As well as outlining how CurrencyFair can give you access to the best business FX rates and lowest fees for your overseas payments, our business FX money transfer comparison has an in-depth look at many of the alternative FX providers out there, so you can see which is best for your needs.
There’s even a historical timeline exploring the history of FX, accompanied by a currency fact sheet sprinkled with practical and thought-provoking information concerning the most popular world currencies.
Download your free copy
Of course, we want to demonstrate that CurrencyFair is committed to providing the best value in terms of business FX transfers and services to our customers, so our FX guide concludes with some case studies where we go into more detail about how we solved challenging currency exchange issues for our customers.
As a business dealing with overseas payments and foreign currency, it’s vital to include FX in your core business planning to avoid the pitfalls and leverage any advantage that can help you succeed in the international markets. By downloading the CurrencyFair FX Guide for Business, you’re taking the first step towards doing just that.
Money transfer companies compared: Australia (2021)
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