Managing business in multiple currencies can be a challenge. Sometimes it feels like someone added another layer of moving parts to your business.
But, working with an experienced currency dealing team – especially one that understands your business – can help you avoid errors, reduce risk and make your future business more predictable.
Our business (founded by foreign exchange experts) is built on long-term, trusted relationships. Our people are experts in their own worlds, but we seek to understand yours too.
As Head of Dealing, Julian Justice, says, “It’s our role to understand clients, their requirements, the currencies they deal in and their appetite for risk.”
That means we’re better placed to recommend the solution that’s right for your business, whether that’s reducing currency risk in future cashflows, or helping you manage international, multi-currency payments, without you or your payees incurring enormous fees.
Here are just three advantages of working with the Centtrip Dealing Desk.
More accurate international forecasting
We do more than simply enact currency trades on your behalf.
We work with clients to help them understand their currency risk and likely future exchange rate movements. We help them forecast the value of future cash flows and develop strategies that decrease risk and increase certainty.
That means clients can forecast and budget more accurately, whether to avoid unexpected budget cuts in the future or to produce more accurate bids for international projects.
Once clients enter the production phase, we execute the spot and forward currency trades to match their strategy.
Specialist guidance from currency experts
Many Centtrip clients appreciate the opportunity to speak with experts who live the currency markets on a daily basis. We can help them understand the outlook for exchange rates, help them decide the best type of trade and the best times to trade (for example, avoiding the period around a central bank announcement).
Often, businesses don’t appreciate the scale of their exposure to exchange rate fluctuations … or the risks inherent in doing nothing. For example, the USD / GBP exchange rate has moved by more than 10% in 12 months; that could mean 10% less US income, or 10% higher costs. We support clients, analysing their historic currency spreads, helping them understand their risk and the true currency costs they’ve incurred.
We also work to support specific industry needs. For some organisations, the risks are one-sided. With a budget that’s signed off and locked down, any exchange rate improvement is of no benefit, while a movement in the opposite direction can mean major cuts to expenditure.
We help clients understand all the dimensions of their currency exposure so they can plan appropriately.
“Centtrip consistently delivers tangible financial savings by providing detailed market insight and helping us maximise each foreign currency transaction we make.” – Bill Curbishley, Trinifold Management (The Who)
Increased predictability from an end-to-end solution
Centtrip has a unique offering that can carry you from currency planning through spot and forward exchange deals to multi-currency payments.
If you have a film production company, for example, we can help you forecast the GBP costs of shooting in overseas locations. We can create and execute forward contracts to deliver predictability to your cashflow (ideal if your financing is in, say, USD but your shooting budget is in sterling).
And, importantly, once your funding arrives, you can roll it out seamlessly, whether you're transferring large payments to international and domestic suppliers and talent, or loading Centtrip prepaid Mastercards for ad hoc, in-the-moment expenses. That means increased visibility, transparency and control, and no more late expense claims at ridiculous exchange rates.
“Unfair FX charges and rates have been a bugbear of ours for a long time and Centtrip has delivered what the music industry really needs. We operate in a global marketplace and need to be able to switch between currencies and transfer our earnings without incurring ridiculous fees.” – Tim Clark, Director at ie:music (Robbie Williams)
An extension to your treasury team?
As Julian says, “We believe in long-lasting client relationships, built on mutual trust, expertise and pricing that’s transparent and fair. Many clients treat us as an extension of their own treasury teams.”
"Many [film] producers wouldn't think about currency hedging. They'd be so busy, with their heads down, trying to get their film made. But, if you're getting your finance in a foreign currency, it should be top of your list. Thinking ahead and working with currency experts like Centtrip, you can save yourself a lot of heartache and aggro." - Steve Jarvis, Film Producer and Owner, Parkhouse Pictures
If you’d like to discuss how the Centtrip Dealing Desk could support your foreign exchange planning and execution, please get in touch today.