What you need to know to streamline and make your treasury more efficient

The constant evolution of the economy derives a challenge for the treasuries, especially for those that carry out exchange operations and international or local payments in different currencies; the volatility of the exchange rate and the speed with which the market changes make it essential to have an agile and efficient management that ensures the liquidity of the company.

Taking advantage of the opportunities of the foreign exchange market, knowing the payment intermediation routes and scheduling your commitments on time can make the difference between generating business or breaking losses, if you have an efficient treasury, your operating costs will decrease, giving your inventories greater turnover and more boost your sales, which will translate into greater benefits for your organization, but how to achieve a more agile treasury? Here are some important points:

Efficiency = savings. Simplify your payments

When talking about payments to suppliers, efficiency translates into savings when your payments reach their destination. To make an efficient programming of your accounts payable, rely on 1. An account and digital banking that allows you to speed up processes such as validation of bank codes (ABA/ SWIFT), registration of new users, clients or suppliers and make the greatest number of possible operations in multiple currencies and in the shortest time. 2. Expert advice or the support of a bank specialized in international operations so that you can be sure that your transfers will reach their destination.

Choose a specialized exchange service

Trading with a foreign exchange specialist like Banco BASE makes a difference. They keep you informed to better understand the foreign exchange market and so that you can make the best decisions, allowing you to have a greater exchange gain, in addition to exchanging currency quickly and with maximum availability: foreign currency 24/7.

Cover yourself from volatility

Foreign exchange operations are the most frequent financial movements within companies that import or export and are subject to a great deal of stress due to the volatility of the foreign exchange market. Volatility means currency prices are constantly changing and out of your control if you don’t set up a responsible currency hedging strategy.

Every time you buy dollars above the exchange rate where you established your cost or equilibrium level, you are losing money, that is, you are buying more expensive dollars with respect to what you are charging with your sales, which translates into less profit margin for your company. Get advice from an expert in hedging instruments to design efficient strategies that minimize or eliminate the exchange risk of your operations.

get an ally

Having a financial institution that helps you start a digitization of your information or automation and download the manual activities that take more time, such as registering recipients or accounts, monitoring the exchange rate and executing operations, will allow you to allocate your hours of I work on those strategic activities where you add the most value.

Review their experience, the speed with which they can respond to your needs and the value that their products or services can provide to your operational processes, this will make it easier for your company to adapt and take advantage of a market opportunity such as having a currency account. abroad to import or export to another country.

In conclusion, having the support of an institution focused on your needs, which provides you with technological, intuitive and easy-to-use solutions, as well as financial products that adapt to your company accompanied by a professional advisory service, will be key to optimizing your volume. of operations and consequently develop a more agile and efficient treasury.

Banco BASE has 36 years of experience making a difference not only because of the specialized advice they provide, but also because of the products and tools to simplify the management of national and international treasuries. Its agile diligence and compliance processes allow it to respond immediately to the needs of companies with foreign exchange operations, from opening a business account in 2 business days to registering a new company with its accounts in BASE in less than 3 days, thus helping them to manage your finances in an easy, agile and profitable way.

Banco BASE can help improve your company’s treasury management, find out how at Bancobase.com