With a background in aviation and experience of working with large travel organisations, Bill Ward had seen first hand the volatility of the markets and the need for transparency, especially around the massive spreads and fees charged by the high street banks. Now he has his own business he can really see how costs add up if they don’t keep a close eye on foreign exchange transactions.
Money Mover - An 'invaluable' service
A company’s trade mark can be its most valuable asset. It can be viewed as a piece of property and has a life of its own. If its not properly registered it can cause catastrophic damage to a business. This is where Ward Trade Marks (Ward) can help.
Ward works with organisations across the whole size spectrum, from start-ups to multi-national businesses. In countries as diverse as China and Thailand to Switzerland and the UK, they give their clients expert, specialist trade mark advice and guidance.
Headed by Rachael and Bill Ward, Ward was set up in 2014 as a specialist trade mark service company. Working nationally and internationally to select, register and protect trade marks, the business handles portfolios of all sizes in a way that’s simple, efficient and cost effective.
With the responsibility for running operations, Bill’s time is limited and for the most part, focused on ensuring the fee earners within the company are able to carry out their day-to-day work uninterrupted. In the minimal time in between, Bill has the responsibility of making sure that all business systems run smoothly, efficiently and as cost effectively as possible. Including their foreign exchange and international payment needs.
While attending a local Chamber of Commerce event Bill was introduced to Hamish Anderson, CEO of Money Mover. With a background in the aviation industry Bill had experience in foreign exchange and so saw the immediate benefit to Ward of using Money Mover.
Bill commented, “With my background in aviation and experience of working with large travel organisations I had seen first hand the volatility of the markets and the need for transparency, especially around the massive spreads and fees charged by the high street banks”. He continued, “Now I have my own business I can really see how these costs add up if we don’t keep a close eye on our foreign exchange transactions.”
Due to a number of Ward’s clients being based in the US, they regularly work with lawyers over there, this can be a challenge for managing their exchange rate risk. Bill explained, “It is standard practice in the US that American law firms can often take up to 90 days to pay invoices. I have no control over when we will receive the money and previously, I would have had to accept the currency risk of the exchange rate going against me in the time it takes from sending the invoice to when I receive the money..”
He continued, “Money Mover provides a great solution to this problem, in that I can book a forward with them, locking in an exchange rate for 90 days into the future. This means that regardless of how long the US clients take to pay the invoice, I’m protected against any exchange rate fluctuations.”
Bill concluded, “The transparency, ease of use and the way Money Mover keeps you informed of the where your money is throughout the whole transaction means for a small business like ours its invaluable.
Money Mover is a feature-rich online global payments platform that provides a a secure and low cost way for small/medium sized enterprises (SMEs) to make their international payments.