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Taking on International Supply Chain FX Risks

Treasury and Accounts Payable process changes can have significant impact

by David Kretz, Cross-Currency Payments Executive, Bank of America Merrill Lynch

As the US economy continues to strengthen, many treasury teams are wisely reviewing established payment practices to allow them to take full advantage of new growth opportunities.

A US company that has taken the time to explore and implement finance and treasury processes that work best with international suppliers and customers will have greater opportunities to maximise rewards and gain a competitive advantage.

For example, a well-considered review of your Enterprise Resource Planning (ERP) system can help you streamline and automate both supplier and intra-company international payments. A fresh look at your supplier master file or payee configurations can also help determine if you’re paying in the best currency with the right payment instrument.