Machinery Trading
Machinery and Spare Parts Trading Company Reduces Costs by 20,000 AED with Hubpay
Discover essential steps to start a trading business in Dubai, including legal requirements, marketing strategies, and cross-border payments.
Client Background
A prominent machinery and spare parts trading company operating in the UAE faced significant challenges in managing its international payments. The company frequently dealt with large transactions involving suppliers across various countries, leading to high costs and inefficiencies.
The Challenge
The finance team struggled with delays and unfavorable exchange rates when transferring funds to overseas suppliers. Existing banking relationships were proving inadequate, and the lengthy transaction processes led to increased operational costs. The team needed a more efficient solution to streamline their payment operations while minimizing costs.
The Solution
Hubpay’s Corporate FX Platform
At a crucial time, Hubpay connected with the finance team, offering a tailored solution to their payment challenges. Hubpay’s competitive foreign exchange rates and transparent pricing model caught the attention of the finance team. After a detailed assessment of their needs, it was clear that Hubpay could provide significant savings and enhance operational efficiency.
The Results
After receiving management approval, the trading company onboarded with Hubpay. Over the next month, Hubpay’s Sales and FX teams collaborated closely with the finance team, successfully facilitating multiple transactions to various suppliers worldwide.
The results were impressive:
Savings: 20,000 AED saved through competitive rates.
Volume: Efficient transfer of 5 million AED to international suppliers.
Efficiency: Streamlined processes completed within 4 weeks, backed by ongoing support from Hubpay’s dedicated team.
Key Takeaways:
Cost Savings: 20,000 AED saved through enhanced exchange rates.
Volume Management: 5 million AED successfully transferred to global suppliers.
Operational Efficiency: A seamless process completed in 4 weeks with continuous support from Hubpay.
Open a free multi currency account with Hubpay
We help companies all around the globe to send money in the easiest and cheapest way using multiple currencies. Talk to Hubpay Corporate FX team today
Share this case study on
Benefits of our multi-currency account
Hubpay offers best-in-class benefits, allowing you to focus on growing your business while we handle your payment needs seamlessly.
Virtual IBAN
Access named Virtual IBANs in multiple currencies, allowing direct local payments to simplify cash flow and reduce international transaction costs.
Payment links
Request payments from your suppliers by uploading beneficiary details and creating payment requests. Speed up your collections with fewer manual errors.
Hedging
Protect your business from market volatility by locking in exchange rates with a 5% deposit, ensuring stability against currency fluctuations.
Hubpay supports many businesses
Get your free multi currency account
Multi-currency global account made for UAE Businesses. Get a free consultation for your business.