I run a mar-tech company that was experiencing huge growth last year. It was hard to keep up with the demand for our product, and so we had to hire a specialised team that could help facilitate our growth into Asia.
Financial management became a big focus area as we expanded cross-border. We were originally under the impression that we would have to open multiple bank accounts in different countries, and this looked like it was going to be a massive undertaking considering myself and the other directors are based in Sydney. That was until we found Airwallex.
Airwallex is a complete international payments solutions, containing comprehensive foreign currency accounts, virtual payment cards, and a multi-currency wallet, allowing you to maintain full control of your international expenditure.
Airwallex made the expansion into Asia that much easier, as we were able to quickly provide our new team with virtual cards that were linked directly to our Airwallex account. When you expand overseas you naturally worry about going over budget, as well as whether you can properly keep track of spending.
Thankfully, Airwallex’s easily navigable platform allows us to quickly search where our money is going and at what times – ensuring our new team makes timely purchases on the technology and supplies they need to do an awesome job.
As our product is available for offer across the globe, we had to ensure we could keep track of international purchases in the one place. In the past, international businesses would have dedicated teams across the world managing international purchases, but with Airwallex you have all the information right in front of you – it’s even linked to our Xero account (it updates every hour!).
Our partners and clients have been directly added to our Airwallex account, which alleviates any stress about funds and when they are going to come through. This system has allowed for us to focus on the bigger picture stuff, especially in regards to international growth, especially as Airwallex’s payment system takes care of all international boundaries by handling all foreign exchange transactions.
The same goes for our own international orders: Airwallex enabled us to receive in USD, eliminating unwanted conversion rates. As we are continuing to experience steady growth we started receiving a lot more payments in US dollar, and we really didn’t want to be losing money on issues like poor currency conversion rates, so this was perfect for us.
We are really happy with the way we can easily convert and withdraw transactions back into AUD from overseas sales – it’s such a quick and simple process that takes away any conversion headaches.
Finally, Airwallex really is easy to sign up to – you can do it all online including aspects like providing documentation. The payment system allowed us to quickly make moves in other countries, and Airwallex’s comprehensive payment solution was perfect for us.
We didn’t have to wait weeks (or months) awaiting international bank approval – Airwallex was quick to approve our application and provide us with our global account and virtual cards as soon as we were approved. We dispensed those cards to our new team and this cancelled out having to try to create cards at local banks on the ground in each country.
Paying our international team is easy, as well as keeping on top of the books. We couldn’t be more thrilled with the service Airwallex provides – it’s really helped take our tech company to the next level.
This article contains factual information about Airwallex’s ability to provide certain financial products and services and its contact information. All reviews and opinions expressed in this post are based on my personal view. I may receive a commission and other benefits for referring you to Airwallex, at no extra cost to you.