International payment requirements for travel businesses can be extremely complex. With multiple suppliers that require time-sensitive payments in a range of currencies, a growing travel firm can quickly become overwhelmed by the size of the task to simply execute such a large volume of transactions on a regular basis.
Furthermore, currency market fluctuations present a risk that, if not managed correctly, can bite into -or entirely eliminate- profit margin that are already very tight.
With most suppliers requiring upfront payments that are only fully settled by the end customer several months later, cash-flow issues are commonplace as tour operators attempt to drive sales whilst also having the cash available to secure hotels, flights and excursions for their end customers.
Universal Partners work closely with travel businesses to manage the above challenges, aiming to facilitate seamless and sustainable growth.