Andrew Zoratto, Operations Manager at Zoratto Enterprises
At OFX, we recognise that the people who dream big are the people who change the world. But of course, getting your international business up and running isn’t easy. That’s why we work hard to make your overseas payments as simple and seamless as possible. If you’re wondering how OFX can assist your operations, check out what our customer Andrew Zoratto has to say.
How Zoratto Enterprises saved $50,000 using OFX
Established in 1966, Zoratto Enterprises is a third generation family-owned Australian business wholesaling quality kitchenware, craft and cake decorating supplies.
Andrew’s father, George Zoratto, started using OFX in 2003. When he handed the business down to his son, he also explained the benefits of using OFX over the banks.
“My father told me that OFX was much cheaper than the banks. We spend millions of dollars every year, so it’s great to know the money saved is being added to our bottom line, and not lining the pockets of the big banks.”
Andrew continues to use OFX to pay his suppliers. Last year, when the Australian dollar (AUD) saw volatility against the U.S. dollar (USD), OFX was there to help. Using our Forward Contract option, Andrew was able to lock in USD payments at a more favourable rate.
“We booked in a Forward Contract at 0.80 USD. The dollar dropped to near 0.70 USD but the exchange rate for the business remained secure at 0.80 USD. This not only saved us money on the exchange rate but saved us from hiking up products on our AUD price list. This could have affected our business in short term.”
Just say ‘no’ to getting treated like a number
“Working with the banks they treat you like another number; file, next, file, next. OFX, on the other hand, treat you the way you want to be treated, and you form a rich business relationship because of it. I will make sure that the next generation of Zoratto also uses OFX.” –Andrew Zoratto.
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IMPORTANT: The contents of this blog do not constitute financial advice and are provided for general information purposes only without taking into account the investment objectives, financial situation and particular needs of any particular person. UKForex Limited (trading as “OFX”) and its affiliates make no recommendation as to the merits of any financial strategy or product referred to in the blog. OFX makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this blog.