UK-Based Recruitment Firm | Spectrum

Case Study:

UK-Based Recruitment Firm

Maximise profits from US-based income by improving currency conversion processes and reducing costly fees.

Background

Our client is an established UK-based recruitment company specialising in connecting U.S. medical companies with top talent.

Their client base is exclusively in the U.S., and all revenue is received in U.S. dollars.

With monthly revenues between $300k and $500k, the business was losing significant income to unnecessary exchange costs.

Challenge

Before partnering with Spectrum, our client received invoice payments directly into their GBP business bank account, incurring poor conversion rates and fees between 3-5%.

With a weaker U.S. dollar and no control over how and when funds were received and exchanged, the business faced shrinking margins.

They were receiving less GBP than forecasted and had no strategy in place to manage the situation effectively.

Solution

Following a few consultations, Spectrum implemented a tailored solution.

We set them up with a multi-currency account in the company's name, allowing the client to receive U.S. dollar payments without immediate conversion.

Spectrum would then organise the conversion of these funds into GBP using a spot trade when conditions were most favourable.

Their new multi-currency account also allows the client to hold and pay out in foreign currencies should the future need arise.

Results

Thanks to this new strategy, Spectrum helped the client recover over £100,000 in just 10 months - income that would previously have been lost to poor exchange rates and hidden fees.

Our client is now able to process overseas payments faster, with full transparency, and has gained greater strategic control over international revenues.

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Spectrum FX Limited is a company registered in England and Wales (registered no. 11080130).

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Stay up to date with market changes

All testimonials, reviews, opinions or case studies presented on our website may not be indicative of all customers.

Site by Lashmire.