Many SMEs see the extra costs of trading with customers and suppliers abroad as an unavoidable part of their business. Alison Ettridge, CEO and Founder at Talent Intuition, shares her story about how Revolut Business enabled her company to invoice and pay in multiple currencies smoothly and securely. With Revolut Business, you can manage accounts in 30 currencies, and send or receive money locally and internationally without rubbish exchange rates.
What is Talent Intuition?
We bring powerful workplace and workforce intelligence together so that companies can optimise how they operate through places and people. Our insights platform, Stratigens™ is continually updated with data covering 548 cities in 47 countries. We analyse more than 350 types of skills and the profiles of over 360,000,000 individuals to provide insight that informs location and talent strategy for global organisations.
I am Chief Believer at Talent Intuition. The whole team of believers know the power of combining workforce and workplace intelligence to create a distinct advantage for companies facing the future of work. Driving our sales efforts and our growth strategy (exponential growth over the next five years) takes time, energy, and passion. Yet as the CEO of a UK-based business with global reach, global customers and global suppliers I need to know we’re using the most efficient tools to support our suppliers and customers.
What are our challenges?
Stratigens™ analyses data from almost 1,400 professional networking sites globally and we monitor news and insight from 32,000 sources on a continuous basis. As a result, we make regular and one-off payments to many suppliers in different currencies.
In the past, this meant that we were at risk of unfavourable currency fluctuations and we were charged costly banking fees every time we made a payment, hitting profitability from Stratigens™. I felt we were at the mercy of traditional banking processes that were not supportive of small businesses that operate globally.
And then we discovered Revolut Business
I found out about Revolut Business through a colleague. As soon as I saw the offering, I thought that Revolut Business could provide an innovative and cost-effective solution to our ongoing financial problems and costs. We went ahead with the Grow plan to see how this alternative model could help us minimise costs and make things easier to manage on a month by month basis.
Without a doubt the ability to pay suppliers in different currencies, reduce our currency fluctuation risk and significantly reduce bank fees associated with these payments has made the investment in the Grow plan worthwhile!
Using Revolut Business has enabled us to make significant savings on bank fees and FX rates. We’ve minimised the risk associated with invoicing and making payments in multiple currencies. The simple user interface for Revolut Business means it is easy and quick for us to manage payments through the dashboard and it integrates seamlessly into Xero, our account system. Overall, Revolut Business has enabled us to invoice and pay in multiple currencies smoothly and securely.
Knowing that payments to our overseas suppliers and from international clients are taken care of means we’re able to strike up new alliances and search out new suppliers without worrying about how the transactional side will work. We’re confident we can deal with any business in any market through secure and fair banking transactions. And I’m freed up to spread the belief!Get started with Revolut Business today