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"Three Payment Risks That Cost Your Business Money, and How to Manage Them"
????Date: 22nd November 2023
⏰Time: 11:00 AM - 12:00 PM GMT
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We'll cover 3 areas where your business is facing payments risk and might be losing money:
Payments out: With settlement risk, counter-party risk, and supplier relationships, you want to make sure that your payments arrive on time, quickly, and in the currency your supplier wants with no deductions.
Collections: You want the ability to be paid as simply as possible and minimise buyer friction with features like the ability to open one or multiple accounts, a single set of account details to receive funds, and the ability to hold funds without converting when you receive currency.
FX volatility: We'll cover some headline numbers about currency movement from the past year and show how movements in pairs such as pound dollar can have an effect on your bottom line, which is why it's important to look for an FX solution that protects your business against rate volatility.
The final and overall takeaway is that every business is affected by payments risk in areas they might not expect, and your business will need to operate in a globally competitive market. With the right support, you can be proactive, manage risk, and free up time to focus on other areas of your business.
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