| 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. |
 |
Solution
Ruesch is dedicated to providing customized 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. |
|
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 organization.
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. |
