The majority of foreign business transactions will end up being hefty investments, and knowing exactly how best to pay for such acquisitions can make a huge financial difference to a company. Should you pay in your own currency, the amount you pay in fees both at home and at the receiving end may not be known to you and not only can you end up spending a vast amount more than you expected, but the figure that reaches the destination account could end up being far less than was needed. In turn, transactions can drag on, causing not only embarrassment for you, but also meaning that valuable assets can end up being tied up.
For those companies who wish to save money, it is far better to send the money to the account in the currency that the recipient uses. This way, you can be sure that the figure they are going to receive is the exact figure that is needed. Not only this, but by getting the foreign currency exchange from a provider who specialises in such foreign money transfers, you will also be far more able to find the best possible conversion rate.
By pre-empting foreign currency exchange you can monitor changes in the exchange rate and in some cases even ask the company to do it for you, instructing them to acquire the currency when it hits a rate that is favourable for you.
Should you simply undertake a money transfer from your bank, you will have no control over the rate you receive and will have far less of an idea of the charges that will be involved at the other end. A company who specialises in such transfers will not only be able to carry out the task faster and at a lower cost, but also ensure that you know the fees you will be paying at every single turn, meaning that whilst you will no doubt save money, you will also simply have a far better idea of the cost of every single purchase.