| Situation
A freight forwarder has three distinct company divisions that operate as three essentially independent businesses. The company centrally coordinates accounting for the divisions and handles all record keeping, but needs to maintain separate accounts for each division. The company was using its bank to process international payments but was frequently not provided exchange rates when making transactions. This required the company to go back and amend its purchase ledgers once it received confirmation of each trade and finally knew the precise cost. Record keeping for the entire company was further complicated when trying to coordinate between the three separate divisions. |
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Solution
Ruesch is dedicated to providing customised international payments solutions that match a client's unique business needs. Clients work directly with a team of international payment professionals and have access to account management tools that help them streamline their processes. |
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Outcome
Ruesch worked closely with the freight forwarder to devise a strategy that best fit its needs. Three different Ruesch accounts were opened for the company, one for each division, each having its own allocated account numbers and settlement accounts. This provided much more clarity for the company to keep track of the transactions made by each division. RueschLINK let the company access its accounts online, process its own transactions, and download full transaction histories for each division. Downloadable reports could then be combined to provide comprehensive reports for the entire organisation. Furthermore, the company's transactions with Ruesch are provided with exchange rates up front so there is no need to amend its purchase ledgers. This comprehensive strategy proved to be a cost and time effective solution for the company and has drastically decreased processing errors. |
