Case Study A timber importer based in the South of England has relationships with a number of suppliers across the Globe. Each day the company is required to make a number of
payments to their overseas suppliers in order to ensure the quick release of product & transportation from their depot. It is vital that these payments arrive with the counterpart’s banker’s on-time and that each payment receives the same level of attention no matter how big or small.
Remedy
After our initial discussion with piagi and reiterating our requirements to our individual currency specialist Mr. Darren Hutchinson. We felt that the best way forward was to take advantage of piagi’s highly competitive spot deals. A
spot deal allowed us to get the best rate available that day and provide our suppliers with speedy access to their payments through the use of electronic swift transfers.
ResultBy accessing the higher rates available through piagi, the importer was able to pay their suppliers in a timely fashion enabling the importer to keep on top of his inovices with the minimum amount of fuss. In addition the company decided to take advantage of the
forward pricing offered by piagi and whist no prediction was made to the currencies future fluctuation in price we was able to place orders with our suppliers for future consignments which enabled us to offer in turn a readily supply of timber to our ever growing list of customers.