Construct Trade (CT) is a global business head-quartered in Riyadh, Saudi Arabia. CT primarily operates in the import and distribution of construction machinery.

Claremont conducted a full Corporate Services Analysis and discovered that:

CT uses its local bank in Saudi Arabia(Alawwal) to convert Saudi Riyals(SAR) to Euros (EUR) and British Pounds (GBP), to purchase construction equipment from Germany and the UK.

The below analysis details the costs CT paid Alawwal bank for the conversions, and the potential savings by using a regulated business payment solution.

CT provided Claremont with a sample of previous transactions from; SAR to EUR and SAR to GBP. The tables below show the average rate of exchange from that sample of data against the market rate or “interbank” rate of foreign exchange.

CT would have saved SAR 1,195,952 on these two trades, if they had used Claremont’s Business Payment Solution(BPS).

As a result of the analysis, CT proceeded to set up an online foreign exchange account with one
of Claremont’s BPS providers.

Claremont’s BPS team assisted CT in training all relevant staff on using the platform and extracting the benefits.

CT are currently saving over SAR 3.37m per annum since implementing the Business Payment Solution.

The first step in assessing the potential savings available and the true benefit of the BPS, is to conduct a full analysis of the current transaction and Foreign Exchange structure that your company has in place. We will then provide a bespoke review, similar to this case study, and provide a detailed proposal for your business.

Our key motivation is to increase company efficiency and reduce costs. What we require to initiate this review is – previous transaction data. The greater the sample of data we receive, the greater accuracy in the review.

Primarily, we strongly advise all companies to complete our Corporate Services Analysis.

Information only.