With political developments, evolving trends and profusion of data and insights, the question for many businesses is how to stand out in a competition. In this blog, we share four practical ways to accelerate growth and succeed even during uncertain times.

Best practice 1 | Optimise cash flows

Interest rates have been high throughout the year 2024. High interest rates led businesses to rethink the way they manage their cash flows, now recognising the need to generate returns on idle capital.

Part of this stems from the fact that many traditional providers do not always pass on the benefit of rate changes, particularly when it comes to SMEs. It is more important than ever for cash-rich businesses to have a strategy when it comes to their idle cash.

Best practice 2 | Ensure access to capital to propel growth

In an undoubtedly tough environment for raising money, many unprofitable businesses may face difficulties. Established fintechs will survive, and in turn they will continue to grow, in part driven by expected industry consolidation.

Strong backing and capital will be an even bigger competitive advantage for any firm, but especially in the fintech space. Businesses with access to capital will be in a better position to exploit new opportunities and emerge stronger.

Best practice 3 | Have a pragmatic view to risk management

A solid FX risk management plan helps you decide when to stay true to your long-term strategy rather than get swayed by the current market volatility. With an agreed percentage of expected FX exposure hedged for the next 1-2 years (typically 25-75%), you can weather whatever surprises the market may bring and ensure you protect your profit margins.

Obviously, the question here is: how much should you hedge? The answer depends on many factors such as business goals, your risk tolerance, tenure of hedging, currency pairs, objectives, budget and more.

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Best practice 4 | Unlock the power of APIs

According to a report by McKinsey, companies that strategically leverage APIs can witness up to a 50% reduction in development costs and a 40% decrease in time-to-market for new products and services. 

APIs facilitate seamless integration between different software and applications, enabling businesses to expand their suite of financial services and improve efficiency. With more product offerings and increased competition, embracing APIs not only streamlines operations but also reduces costs and meets the evolving demands of their clients in an increasingly interconnected world.

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Disclaimer

The information provided herein is general in nature and should not be construed as financial or investment advice. The information provided here is not legally binding. The information, data or views expressed here is for the exclusive use of the recipient and is subject to changes without any notice. You may ask the support team or your dedicated relationship manager to provide additional information regarding Ebury products.