Studio Halvorsen · Design studio
Invoices paid twelve days faster, in any currency.
A fourteen-person design studio with clients on three continents.
Results
- faster average payment
- 12 daysfaster average payment
- returned to the studio manager every week
- 6 hrsreturned to the studio manager every week
- manual currency conversions
- 0manual currency conversions
The challenge
Studio Halvorsen works with brands in Europe, the United Kingdom and Canada. Every invoice meant a manual currency conversion, and every payment arrived at a slightly different rate than expected.
The studio manager spent most of Friday chasing payments and untangling exchange differences, time that belonged to the clients and the work.
The solution
Studio Halvorsen now invoices each client in their own currency, with the rate locked on the day of issue. Reminders go out automatically and payments match themselves when they land.
Gains and losses from exchange rate movements are recorded for the studio, and reports show profit by client in a single home currency.
In their words
Our clients pay in euros, pounds and Canadian dollars and I never touch a calculator. It just shows up correctly in our books.
Features they use.
Close the books, not the door.
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