NEW Today's Currency Market News Learn More
Cash Management

Ensuring international currencies don’t slow down the supply chain

Fast turnaround of CNH payments increases cash flow certainty.

Westwell Australia is the international business division of China based parent company Sumpo Group, which exports quality Australian and New Zealand food products into China. The company was experiencing challenges with slow conversion of CNH into AUD, which impeded its ability to pay suppliers on time.

Challenge

1 week process to exchange CNH into AUD was impacting cash flow.

Solution

CNH conversion within 24 hours of delivery.

Result

Cash flow certainty.

24 hour turnaround

The need for an Australian exporter to exchange CNH is an unusual one, given China is better known as a source of imports. However, after remitting CNH into Western Union Business Solutions bank account, Westwell Australia can now be confident that funds will arrive in its AUD account within 24 hours.

Smooth cash flow happy suppliers

Fast conversion of CNH into AUD leads to better relationships with suppliers. Westwell Australia’s supply chain is built around 30 or 60 day terms of trade, and its ability to pay invoices on time is critical to maintaining these terms.

“It’s a real competitive advantage to offer our clients the ability to pay in their local currency. Having this currency converted into AUD so quickly, means there’s minimal disruption to our cash flow.” Michelle Jin, Executive Director, Westwell Australia

The Last
Exchange
Westwell Australia can now be confident that CNH will arrive in its Australian bank account within 24 hours which helps to play supplier more quickly and free up its cash flow.
International Payments  Cash Management 

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