client background

An established national arts and crafts import and wholesale business of 20+ years.

client challenge

The business purchases stock from overseas suppliers with invoices requiring conversion of $15,000,000 USD p.a. The business was growing and due to Covid-19 decided it to be a good time to complete a ‘health check’ review of their existing bank facility, in place for the past 10+years.

moneytech's solution

Moneytech stepped in to provide the client with a Foreign Exchange Facility, giving the business access to a range of Foreign Exchange solutions and a dedicated dealer to assist with risk management strategies including the implementation of Forward Exchange Contracts to better manage currency fluctuations, ultimately protecting the company’s profit margin. As a result, not only has the business been able to achieve considerable cost savings on their FX trades but now have in place the specialised support required to focus on core activities, minimise uncertainty about future cash flows, satisfy client needs and elevate growth.