Case Studies

Smart Currency Busines makes an offer too good to refuse

By Smart Currency October 24th, 2012

Sky, ITV, the BBC and big budget films are just a few of the beneficiaries of the sophisticated audio solutions provided by this Smart Currency Business client, who specialises in supplying audio – particularly wireless – solutions to the broadcast and entertainment industries. As well as providing the latest and most sophisticated audio products on the market, they also offer extensive consultancy support – matching cutting edge systems to unique client requirements.

The company has been in business since 1984, working on a number of exciting projects, including working on a large contract for a major international motor racing series.

“The product has to be absolutely right,” says the head of the business. This type of coverage is very complex and the audio systems we provide will be travelling around the world. Our solution has to be resilient and fit for purpose. We specialise in building the right systems for unusual, complex tasks.”

Foreign Exchange Issues

The vast majority of the products they provide come from abroad – predominantly the USA, Italy and Switzerland. The company is operating in a small but highly specialised market.

Smart Currency Business’s client points out: “I was already using a foreign exchange supplier when Smart Currency Business contacted me. What they offered was simply too good to refuse in terms of their rates compared to my existing supplier. They also offered free transfers where before I had been paying £15 for each one.”

Their business buys in over £1m of equipment each year from abroad. “Even fractions of a per cent can make a huge difference to the business,” he says. The business regularly negotiates forward contracts through Smart Currency Business. “It means that when I negotiate a contract with a customer I can quote them a price based on the assumption that the exchange rate cannot get any worse,” he says.

Personal service

They feel that the main benefit of using Smart is the seamless nature of the service it provides. “I can call my Smart Currency Business trader, have a conversation that lasts for less than two minutes, and within a minute of putting the phone down, I receive a contract note. The whole transaction is complete within an hour. It is a completely painless process – and that is how I think it should be. I need to be spending my time selling – not ringing around negotiating currency rates. Smart Currency really is one of the most professional firms I have ever dealt with.”

So, would they ever be tempted to use another foreign exchange supplier? The answer is simple: “I can’t really imagine what would tempt me as the rate I am getting with Smart Currency Business is simply so close to the inter-bank rate. Interestingly, I had a call from my previous FX supplier who asked me what rate I was getting now. He said he would go away and see what he could do in terms of matching Smart Currency Business’s rate.” And? “He never came back to me.”

For more information, get in touch with the team at Smart Currency Business, contact us on 020 7898 0500 or email