Soled Distribution, reliable payments keep the supply chain moving
Soled Distribution previously managed international payments on its own, which was a complicated and time consuming process. The speed with which a payment reaches its suppliers can have significant implications for the company’s cash flow and profits, so it was crucial to find a simple way to manage international payments.
Complicated and inefficient payment methods that led to funds not reaching suppliers’ accounts on time. This had the potential to disrupt the supply chain, and consequently Sole Distribution’s cash flow for up to 12 months.
Partnering with Western Union Business Solutions to make international payments more efficient, and receive guidance on how to minimize the impact of currency volatility on cash flows.
Efficient payments processes mean the company’s owners can concentrate on growing the business, rather than managing international payments. Locking in exchange rates in advance has helped Sole Distribution improve the accuracy of profit margins and forecasting.
“The difference in the exchange rate for us as a small business could be the difference between a bill being 150 and 180 thousand dollars within a couple of weeks.” Suey Cooper, Founder, Sole Distribution
Western Union Business Solutions (WUBS) is the issuer of the products discussed in this video and would be a counterparty to any transaction you undertake with us. Click here for full disclaimer.
The Last Exchange
Many small businesses struggle to manage foreign exchange and international payments on their own. Now Sole Distribution can focus on what it does best: importing and distributing quality shoes.
Resources are provided for general informational purposes only and do not take into account your particular needs or circumstances. The resources provided here should not be construed as providing advice or recommendations of any kind.
Deliver the Daily Currency Market Analysis to my Inbox
Published five days a week, this newsletter provides day-to-day trends and activities affecting the market in easy-to-understand snapshots.
Soled Distribution, reliable payments keep the supply chain moving Soled Distribution previously managed international payments on its own, which was a complicated and time consuming process. The speed with which a payment reaches its suppliers can have significant... Read the Case Study (video)
A grand approach to risk management Grande Exhibitions is an Australian company with a large number of business partners and suppliers located in Asia, Europe and the USA. Doing business on such a global scale means cash flows and... Read the Case Study
Boosting Revenue with Local Currency Payments When your corporate clients pay overseas suppliers and send local currency, make the most of this opportunity. This webinar covers the basic and benefits of FX payments and risk management. Watch the Webinar
Taking control of volatility and business profits Varying exchange rates and long-lead times made it difficult for Capitol Essentials to maintain fixed margins and pricelists. Read the Case Study