“We’ve been working with the Garton dealing team for several years now. Over time, we’ve been approached countless times by companies offering better rates, but security concerns always led us to dismiss them. However, after being contacted by Garton, we were impressed by their personable approach and commitment to going the extra mile. The dealing team is always available to assist us with any payment-related queries. We couldn’t recommend them more.”
Cadence are a Bristol based technology group. The company were founded in 2000 and supplies parts to the world’s leading semiconductor companies. The sector has been highlighted by the government as systemically important to aspirations to become a global leader in Tech.
Cadence had long used their banks FX platform despite not achieving the best exchange rates on supplier payments to Europe. This approach had cost the company tens of thousands of dollars down the years, this potential value to the business was offset against security concerns. The company also wanted to maintain a degree of control and not have to call in for exchange rates which they seen as a unnecessary barrier in a relatively transactional element of the business.
After being contacted by the sales team and raising security concerns early in the conversation, Cadence were able to self-manage their FX exposure through an online platform provided by our payment services provider Currencycloud. This solution empowered Cadence to self-manage their FX exposure through an online platform synced with live streaming prices, closely mirroring the interbank rate. To enhance security further, multi-factor authentication was implemented, allowing junior team members to execute trades and set up payments, while the CFO retained full approval over all transactions.
Over the four years of working with Garton, Cadence has saved approximately $150,000 in like-for-like savings by improving the execution prices of their FX deals. The company has been able to maintain control over the process by using an online platform to set up FX deals, beneficiaries, and payments.
“We’ve been working with the Garton dealing team for several years now. Over time, we’ve been approached countless times by companies offering better rates, but security concerns always led us to dismiss them. However, after being contacted by Garton, we were impressed by their personable approach and commitment to going the extra mile. The dealing team is always available to assist us with any payment-related queries. We couldn’t recommend them more.”