Why do SMEs need access to global currencies?

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5 June 2019


As the world becomes more connected it’s becoming far easier for small and medium-sized enterprises (SMEs) to source suppliers and sell goods or services globally. To take advantage of global trading opportunities, it’s vital that your company has the capability to make and receive payments in as many currencies as possible.

ome currencies are easier to access than others, and you can lose valuable time and business opportunities if you only have access to a handful of popular currencies.

With Ebury you can access 130 currencies, benefit from flexible FX solutions and make or receive payments across the world, untapping the full potential to seamlessly grow your business and revenue.

Benefits of having access to global currencies:

1. Cater to all of your customers

Have you been ready to pay for something on a site that only lets you pay in foreign currency, and decided that it’s not worth the effort? Many of your customers will do the same as they will be expecting the same flexibility.

Grow your customer base world-wide and ensure higher customer retention by catering to their specific needs with access to over 130 currencies.

2. Take advantage of unmatched opportunities to grow your revenue

One of our clients exported primarily to the UK and US markets, but noticed a spike of interest originating from Ethiopia. Being able to receive payments in Ethiopian birr (ETB) as soon as possible was key to seizing the opportunity and start serving a new market.

If they were with any other FX provider it may have been difficult to gain access to ETB, but with us our client was able to act fast and open up a new market which led to major revenue growth.

3. Reduce the cost from your suppliers

If you are an importer paying in your local currency, your supplier is faced with administrative costs and currency fluctuation risks—which can result in built-in price buffers to compensate the supplier for any potential losses.

Being able to pay your supplier in their local currency removes friction and could help you save money.

Why choose Ebury?

Our top priority is to service our clients’ needs and provide solutions so that you can focus on growing your business.

Unlike traditional banks, we work around you and don’t have a one-size-fits-all approach. We offer flexible solutions for FX and payments with extensive global coverage.

Talk to your Relationship Manager today, or contact us here to find out more.