Transaction Process Outsourcing (TPO) by ForExim revolutionizes the forex landscape for SME & Corporate clients in India. By extending Treasury front office services, TPO empowers businesses to navigate forex markets with ease, fostering transparency and cost-effectiveness. With a focus on minimizing transaction costs, TPO ensures that corporates can optimize their forex operations efficiently and affordably, paving the way for enhanced financial management and profitability.
Transaction Process Outsourcing (TPO) by ForExim offers numerous benefits to corporates:
- Fixed Forex Transaction Costs: TPO enables corporates to lock in their forex transaction costs, providing stability and predictability in foreign exchange markets.
- Expert Monitoring: By engaging with forex professionals, corporates can benefit from expert oversight of their transactions, ensuring informed decision-making and risk management.
- Cost Reduction: Outsourcing treasury functions to a professional third party reduces the operational costs associated with maintaining an in-house treasury setup, allowing corporates to allocate resources more efficiently.
- Seamless Execution: With the help of Dolly, an AI FinBot & our team, corporates can enjoy seamless deal input and execution, streamlining the forex transaction process for enhanced convenience and efficiency.
On Difference in Exchange rates, Why would my bank listen to you? They don’t let us negotiate anyways!
At ForExim, our dedicated team of experts is committed to advocating for our clients and aligning bank rates with their costs and needs. While it may take some time and multiple transactions in certain cases, we remain steadfast in our pursuit of optimizing forex operations for our clients.
We truly value the support and understanding of our clients, as it enables us to navigate the complexities of the forex market more effectively and efficiently. Together, with a collaborative approach, we can streamline processes, minimize transaction costs, and achieve the best possible outcomes for your business.
ForExim has designed several user-friendly features to demonstrate the value of our services:
- Rate Audit Feature: Users can easily assess their historical transactions over the past 365 days using the Rate Audit feature. This tool identifies any discrepancies between the agreed-upon rates and the actual rates charged by banks, highlighting potential costs to the company. By leveraging ForExim’s Transaction Process Outsourcing (TPO) services, users can minimize these discrepancies and optimize their forex transactions.
- Forex Savings Report: The Myforexeye application allows users to generate comprehensive reports detailing their forex savings. This feature provides a clear overview of the cost reductions achieved through ForExim’s services, demonstrating tangible benefits to the company’s bottom line.
- Voice Recording Machine: Users can listen to recorded negotiations between ForExim dealers and bank personnel to ascertain the savings achieved through rate negotiations. This transparent approach enables users to understand the rationale behind rate adjustments and the resulting cost savings, fostering trust and confidence in ForExim’s services.
By incorporating these features into our platform, ForExim aims to empower users with the tools and insights they need to make informed decisions and maximize the value of their forex transactions.
At ForExim, we uphold the belief that a bank is a valuable partner in our clients’ businesses, serving in various capacities beyond just financial transactions. We maintain positive and collaborative relationships with a diverse range of banks, recognizing the unique strengths and contributions they bring to our clients’ operations.
With a client base spanning over 100 businesses across India, banking with 20 different institutions, we prioritize seamless cooperation between clients, banks, and our team at ForExim. Our approach emphasizes transparency, trust, and effective communication to ensure smooth processing of forex transactions.
One key aspect of our streamlined process is the use of mandates, which are authorization letters empowering specific dealers at ForExim to execute forex transactions on behalf of our clients. By sharing these mandates with both clients and banks, we facilitate efficient and secure transaction processing while maintaining the integrity of our clients’ financial operations.
Through our commitment to partnership and collaboration, we have successfully persuaded both clients and banks to embrace this approach, enabling us to deliver exceptional service and value to our clients across the board.
How transparent is TPO service of ForExim?
At ForExim, transparency and accountability are fundamental principles guiding our operations. To ensure the integrity of our transactions and provide clients with peace of mind, all client orders and rate covers with banks are conducted over recorded lines. This recording includes the exact time of the transaction, offering a clear and verifiable record of each deal.
Additionally, we understand the importance of client oversight and offer the flexibility for clients to request voice recordings for selected transactions randomly. This allows clients to independently verify the details of their transactions and maintain confidence in our services.
Furthermore, our IT team is diligently working on enhancing our client experience by providing comprehensive transaction information on our website. Soon, each client will have access to a personalized User ID and Password, granting them secure access to detailed transaction records and updates.
By prioritizing transparency, accountability, and client empowerment, ForExim strives to foster trust and confidence in our services, ensuring a seamless and secure forex transaction experience for all our clients.
To facilitate smooth and efficient forex transactions, customers engaging with ForExim’s Transaction Process Outsourcing (TPO) services are required to authorize ForExim dealers with their respective banks. This authorization allows our dealers to cover forex transactions on behalf of our clients directly from their banks.
The charges for our TPO services are structured based on the annual forex volumes of our customers. This ensures that our pricing remains fair and transparent, tailored to the specific needs and usage patterns of each client.
With over 500 satisfied customers currently availing our TPO services, ForExim has established itself as a trusted partner in optimizing forex operations for businesses across various industries. Our commitment to transparency, efficiency, and client satisfaction drives us to continuously innovate and enhance our services to meet the evolving needs of our clients.
Maintaining a strong and positive client relationship with banks is paramount at ForExim. We understand the significance of these partnerships and prioritize professionalism, cordiality, and smooth interactions in all our dealings with banks.
To safeguard the interests of our clients and dealers, we enforce strict compliance measures, including conducting all interactions with banks on recorded lines. This ensures transparency, accountability, and the preservation of accurate records for reference and verification purposes.
At ForExim, we uphold a zero-tolerance policy for any non-compliance with these standards. We are committed to upholding the highest ethical and professional standards in all our interactions, safeguarding the trust and confidence of our clients and partners alike.
At ForExim, we possess the capability to monitor and analyze the forex market on an intra-day basis, allowing us to make timely decisions regarding forex transactions. We rely on guidance from our clients as well as insights from our risk advisory desk to inform our strategies.
However, it’s essential for our customers to recognize that while we strive for accuracy and effectiveness, market dynamics can be unpredictable, and we cannot guarantee success with every transaction. Despite our best efforts, fluctuations in the forex market may impact the outcomes of our decisions.
Nevertheless, clients can trust that we will always endeavor to cover forex transactions appropriately, leveraging our expertise, experience, and market insights to mitigate risks and optimize outcomes to the best of our ability. Transparency, communication, and a commitment to client satisfaction remain at the forefront of our operations.
At ForExim, we prioritize the security and confidentiality of our clients’ information at every step. Our dealing room maintains strict access controls, allowing only authorized dealers appointed by ForExim to enter the premises. Additionally, our systems are fortified with robust encryption measures to safeguard client data against unauthorized access or breaches.
We adhere to a strict policy of not soliciting or requesting any confidential information pertaining to our clients’ businesses. The information we require for forex transactions is limited to essential details such as foreign currency amount, type of currency, nature of transaction (export/import), type of transaction (cash/tom/spot/forward), and the bank involved.
By focusing solely on the necessary transactional details, we ensure that our clients’ sensitive information remains protected and secure. Our commitment to confidentiality and data security underscores our dedication to maintaining the trust and confidence of our clients at all times.
ForExim understands that our Transaction Process Outsourcing (TPO) service may be a new concept for many prospective clients. To showcase the tangible benefits of our service, we offer a complimentary trial to interested parties. During this trial period, clients can experience firsthand the value and effectiveness of our forex management solutions.
To avail of this free trial or to learn more about how ForExim can optimize your forex transactions, you can reach out to us at 91-8369072049 or send an email to hi@forexim.co. Our team of experts is ready to assist you and address any inquiries you may have.
Furthermore, we stand behind our commitment to transparency and competitive pricing. We guarantee to demonstrate a noticeable difference between the market rates and the rates quoted by banks, showcasing the cost-saving potential of partnering with ForExim.
Experience the difference with ForExim and take control of your forex transactions today.