Travel and Tourism is a growing market with complex requirements that span across the globe. When you’re paying suppliers and partners located all over the world, ineffective management of the international payments process can be a significant obstacle to profit growth.
Reduce manual data entry, and minimise the risk of errors that consume valuable time. Our straight-through processing solution can be integrated with your ERP and accounting software for a completely automated payments process.
With over 130 currencies spanning more than 200 countries and territories, you can pay your suppliers in their local currency and position yourself to strengthen relationships and negotiate on pricing.
Fluctuating currencies can raise your expenses and diminish your profits if unmitigated. Develop a risk management strategy to protect yourself from market volatility.
Lock in exchange rates for payments to global suppliers and bill clients more accurately.
Know your cash position. Anticipate how much foreign currency you need to cover international payments.
Minimise administration and keep your suppliers informed with automated payment notifications, and convenient tracking of payment status.
"With Western Union Business Solutions we can implement the foreign exchange strategy that suits us best. Forwards Contracts provide the opportunity to send money at any time according to our needs, with a fixed rate defined for a set time period. Currency Options provide similar protection against adverse market movements, while also giving us the ability to seize favourable opportunities when they arise." Lucile Blanvillain, Group Treasurer, Salaün group
Talk to a specialist to discuss your international payment or foreign exchange needs.