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Earlier in the year, we were contacted by John the owner of an SME packaging company who was looking for advice on the best way to reduce risk when paying a supplier based overseas.
Earlier in the year, we were contacted by John the owner of an SME packaging company who was looking for advice on the best way to reduce risk when paying a supplier based overseas.
John arranged an online meeting with a dedicated account manager to discuss his business’ foreign exchange requirements, so we could understand his concerns, risks, goals and aspirations.
During the discovery meeting, John explained that his business routinely makes payments to their supplier based in Germany. Historically the business had always bought euros on Spot, but he was concerned about the volatility in the euro market, having just come out of the global pandemic, and now facing fresh uncertainties with high inflation levels and the Russia-Ukraine situation.
John was conscious of how much unfavourable exchange rates could add up and prove damaging to the companies’ finances and restrict the growth of his company. With the way the company had been making payments previously, he was facing challenges in that his profit was unprotected if the pound/euro fell below his budget threshold, therefore reducing his profit margin. John wanted to understand the ways he could reduce his risks and stay on track with his business goals during a difficult global time.
Qu Moneys account manager Kris, a business FX specialist was able to provide John with an objective and insightful analysis encapsulating everything covered in the discovery meeting where they had discussed his business requirements. Kris presented a bespoke hedging solution tailored to John’s business needs.
“We aim to minimise any risk to negative market movements by safeguarding our clients against currency fluctuations.”
Kris C, Business FX specialist – Account manager
John was satisfied that his business requirements had been listened to and fully understood, he appreciated the time taken to explain his options and for the knowledge he gained from speaking to his expert account manager. He was happy to put the strategy in place with immediate effect.
In this instance, Qu Money was able to fix the price at a level above the business profit level to protect the company against adverse movements to the end of the year. This not only protected John’s company’s bottom line profits but also allowed them to price his goods up to the end of the year knowing the costs were fixed.
We were able to minimise any losses and mitigate risk through our bespoke risk management strategy. We did this by understanding our client’s business and financial objectives.
“We continue to monitor the performance of John’s company’s foreign exchange strategy and speak regularly to keep him up to date with the latest movements and advice.“
Kris C, Business FX specialist – Account manager
“Until I spoke with Kris I had no idea it was possible to manage cash flow this way and fix my costs throughout the financial year. With the markets in such a state of flux I could have been in a very stressful position – now I am covered for any eventuality”
John S.