Global businesses are becoming increasingly digital. At the same time, digital businesses are becoming increasingly global, driven by customers who use their digital devices to access their preferred service
Financial Services is in the eye of the digital transformation storm as the industry is being disrupted faster than nearly any other. FinTech and RegTech are levers that are reshaping the way financial services are offered and overseen, and how customers consume them.
As the waves of technological advances in automation ripple through global trade markets, brands born in the digital age are prospering while those resistant to change struggle.
Daniel Meere, Axis Corporate, Managing Director, UK “Globalisation has been a theme for business growth for many years. Technology and mobile communications being a new dimension to this. Newly launched business can disrupt and gain market share fast, gaining reach and global scale quicker than ever before. Axis helps clients to achieve these growth ambitions, often building new business models and creating flexible partnerships to do so”.
The Going Global special report featured expert opinions on key areas for opportunity and where significant challenges lie for companies in their pursuit of going global, namely navigating possible post-Brexit trade rules, trade finance, international payments and harnessing modern logistics and supply chains.
NAVIGATING RISK POST BREXIT
While the global marketplace becomes more interconnected and accessible, the risks involved in doing business abroad are not to be taken lightly. For even the biggest multinationals, entering a new market presents a wide and varying range of commercial risks which, if ignored, can have catastrophic implications. However, under present conditions of political and economic uncertainty, accurately evaluating the risks inherent in an international venture has become increasingly challenging. Currency, credit and political risks will form the basis of this analytical article equipping business decision-makers with vital warning signs to consider regarding international undertakings.
TRADE FINANCE: A NEW ERA
As the backbone of all export and international activity, trade finance must be at the heart of any global expansion strategy – the World Trade Organisation estimates that more than 80 per cent of trade is reliant on such products. The key to success is a holistic strategy to manage working capital throughout the trade cycle. All too often, however, even the most senior business leaders struggle in the face of an intimidatingly complex range of options.
HARNESSING MODERN LOGISTICS AND SUPPLY CHAINS
For many UK businesses it is the perceived high cost and complexity of logistical challenges that deter them from growing internationally. But recent advances mean that British firms can operate seamlessly across global geographies. In fact, companies cannot grow faster than their supply chain structure, so knowing the range or limitations of your supply chain operations is critical to expansion. This forward-looking feature will showcase how pioneering innovations and technologies are making “going global” more cost effective than ever before.
Making cross-border payments efficiently and cost-effectively remains a basic function for companies operating internationally. Reliable cross-border payments are fundamental to the risk management, profit and the success of international business. Technology is rapidly aiding both time and reliability of international payments, but has it gone far enough? Within the context of fluctuating currencies, political volatility and outstanding payments, this feature will unpick the challenges and solutions presented by international payments.
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