How OFX became like one of the family at Zoratto Enterprises
How Zoratto Enterprises saves with OFXAndrew is the Operations Manager and owner of Zoratto Enterprises. Established in 1966, Zoratto Enterprises is a third generation family-owned and run wholesaler of quality kitchenware, craft and cake decorating supplies.
Andrew’s father, George Zoratto, started using OFX in 2003 when he realised that OFX offered better rates than his previous forex provider. When he handed the business down to his son 13 years ago, 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. When the Australian dollar (AUD) saw volatility against the US 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.”
The added bonus of expert customer support
The factor that set OFX apart from the rest was the personable service available 24/7, “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.”
It’s this support that means Andrew will continue to use OFX and recommend the service in the future. “My father use it, I use it and I will make sure the next generation of Zoratto will use the services too.”
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