Is Currency Fluctuation Impacting Your Cashflow
If you make purchases in foreign currency in your business, you have to be extra careful. The slightest fluctuation in exchange rate can add up to thousands of dollars at the end of the year and make a dent on your cashflow.
Traditionally, if you use the banks to manage foreign exchange, you're vulnerable to high transaction fees and less competitive exchange rates. From a reconciliation perspective (in your accounting software), this also makes the process cumbersome and time-consuming.
We know this from experience. In our own business we have a high volume of international expenses and early on we learned we had to have a better way to manage these transactions and cashflow risk.
Which is why when OFX approached us for a partnership, it was a no-brainer. We could finally offer our customers a much smoother way to handle international payments and save them thousands of dollars in the process.
We started with the launch of ‘Pay with OFX’ in Saasu, which means, not only do you save money on international transfers, but also the invoice reconciliation is done automatically for you.
But it doesn't stop there. From ‘Pay with OFX‘ you have access to an arsenal of tools to help protect you against foreign currency risk.
They're very simple, and once you know the details, you can start getting the benefits straight away.
With OFX's help we explain in detail one of those tools – Forward Exchange Contracts (FEC) and how you can use them to save hard dollars in your business.
OFX created a simple guide on FEC, which you can download below. It shows you a couple of real-life examples, and you can use those calculations yourself to check how much currency fluctuation is impacting your business.
Tools to Manage Risk & Save Money on International Payments – Free download
New to OFX + Saasu? Register Free and get access to great exchange rates, low fees and automated invoice reconciliation. Do it this month and you’ll get 10 FEE-FREE transfers. And if you know someone who could benefit from this guide, we’d love it if you shared it.