Overcoming Instability
Global markets fluctuate constantly, driven by current events, economics and monetary policy. Active evaluation and adjustment, even of the most basic processes, are critical for continued growth.
Global markets fluctuate constantly, driven by current events, economics and monetary policy. Active evaluation and adjustment, even of the most basic processes, are critical for continued growth.
To protect your profit margin through these changes, stay focused on a well-worn principle: make it easy for your clients to do business with you. Start by updating your foreign exchange (FX) policy to reflect current market conditions. This can be as simple as invoicing in your buyer’s currency.
An international banking partner makes a big difference in easing the complexities of trade finance. Work with a banking partner, such as FNB, that maintains nostro accounts with other banks around the world and facilitates transactions in a range of currencies. So instead of forcing your buyers to engage their bank, FNB accepts their payment and quickly process it in U.S. dollars, removing costly steps on each side of the transaction.
The best way to keep pace with shifting markets is active awareness, which can be a full-time job itself. Rely on experts who understand the markets where you do business and have the resources and access to provide actionable consultation. Work with a partner that has a global network of contacts and firsthand knowledge of international markets, which are analyzed in the context of your business goals to help you make confident budgeting and planning decisions.
