Reel in more business around the globe with smart trade solutions
Businesses today are operating in an increasingly complicated — and competitive — marketplace. To drive growth, more and more U.S.-based companies are expanding their operations, pushing into new markets or amplifying the existing international dimension of their businesses.
When your company operates abroad, understanding the international business landscape and implementing smart financial strategies is essential. Implementing strategic trade solutions, for example, is a good way for your company to increase its competitiveness and agility in every market you’re in.
Let’s look at a theoretical example:
A California-based seafood company called Capital Catch sells canned tuna in markets around the world. It sources its fish from suppliers in Asia and sells its product to grocery store customers dotted around the globe in the United States, Europe, and the Caribbean.
One of the biggest business challenges Capital Catch faces is having payment interests that conflict with both the interests of its suppliers and buyers:
- As the buyer, Capital Catch wants to delay paying its tuna suppliers in Asia as long as possible.
- When selling tuna to grocery stores around the world, Capital Catch wants to be paid as soon as possible by its customers, while grocery stores want to delay payment for as long as possible.
Implementing smart trade strategies, such as those depicted in our infographic, helps solve the problem by resolving these conflicts of interest. The infographic details more about the trade solutions Capital Catch uses to keep its suppliers and buyers happy while reeling in more business in the United States, Europe, and the Caribbean.
To learn more about how Bank of the West and its parent, BNP Paribas, can help your company be more competitive by implementing smart trade strategies across its footprint, please visit our website.