Supporting a Digital Agency to Save On Currency Exchange

An RJF Accounting Case Study

Accounting Services Growth Services

We Helped Save a Client Tens of Thousands in Lost Revenue by Adopting a Currency Strategy They Didn’t Know About.

Who was the client?

A large creative digital agency.

What was the challenge?

This client had growth aspirations and a large European client-base, but exchange rates and transfer fees were destabilising their business’ finances. They approached us for support after losing a substantial amount of money processing international payments.

Even though they’d previously been a client of a large, well-known accountancy firm, it became apparent that they’d never been given guidance on hedging when dealing with overseas clients.

How did we help?

Based on our experience working with international businesses, we knew exactly how to improve processes and get this client’s expansion plans back on track.

Hedging is a freeze on currency rates – agreed prior to the payment date – which ensures that fluctuating exchange rates don’t reduce an invoice’s value in the time between it being issued and paid.

We spoke to several traders, who agreed to lock in the exchange rates for a small fee. We also set up an exchange to EUR/USD instead of GBP, since the relevant rates and transfer costs were kinder to the agency’s bottom line.

What was the result?

We brought real-world, first-hand business experience to the table to remove the headaches of going global for this client. We secured 80% of their overseas business against wild currency fluctuations and made it easier to plan cash flow and investments. What’s more, moving to a EUR/USD exchange saved the client £20,000 in the following year alone.

Switch to RJF Accounting Today!

We make moving to RJF from
your current accountant simple and easy.

Switch To Us Today!
RJF Accountants
Based on 34 reviews
powered by Google
Jay WilliamsJay Williams
12:55 24 Apr 23
Been with RJF for a short time and they have already helped with cashflow and overall financial management
Ken MeaneyKen Meaney
16:13 13 Oct 22
We moved our financial management and reporting to RJF Accountants 12 months ago, we needed more of an outsourced Finance Director to give us deeper knowledge and guidance both locally and internationally. Rob and his team at RJF are experts in their field and take the time to genuinely understand the businesses they support and the people within them.I highly recommend RJF Accountancy to businesses that need more than just a basic accountancy service, we have been entirely satisfied from day one and look forward to a continued relationship with Rob and his team.
Moylan MoylanMoylan Moylan
12:02 07 Oct 22
Thanks to Rob and the team at RJF in getting our first accounts done and filed on time. We are extremely busy and didn't have the time to have everything filed and ready. They pulled out all the stops. Great supportThanks also to Rob for his advice and support especially in relation to various taxation scenarios, EIS and SEISS, other options and opportunities and regulations. Much appreciated.
Judy LeungJudy Leung
14:10 15 Dec 21
I switched to RJF because I needed an accountant who could also offer advice and insight into startup finance and tax related queries, not just deal with the compliance side. I'm extremely pleased I made the move because Rob and his team have been fantastic, always responsive and helpful. It's clear Rob has a lot of experience and is passionate about startup finance and entrepreneurship. I've already referred another business owner to him and am happy to recommend RJF.
Danny RodgersonDanny Rodgerson
20:02 26 Nov 21
Rob and his team are professional, courteous and always friendly. Rob will make the time to reply to all my ramblings - whatever time of day! He's knows how to advise businesses on their accounting needs. I previously referred clients to Rob, but became one myself when I set up alone, and I can now see why they all raved about RJF.