How to optimise relationship your payment providers? Bosco Conference

Learn more about relationship with payment service provider!
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Viktoria Soltesz, Founder of PSP Angels, talked about how to optimize your relationship with your payment service provider. Victoria gave an example of a situation that can happen to absolutely everyone:

Tomorrow you try to log into your corporate account, but find that the account is frozen. It was a bank error, but it takes 2 weeks to fix the error.

How much will this affect your work?

In order to avoid or minimize losses in such a situation, planning is necessary.

Checking the status of cash flow:
- how do your customers like to pay?
- where do your funds come from?
- in what currency?
- how often?
- where do you send funds?
- how many accounts do you have?
- tax implications;
- banking expenses;
- expected future cash flows.

Objectives:
- increase the transmission speed;
- improve the overall cash flow;
- reduce risks and costs to create backup plans.

Victoria summed up the results:
- it is necessary to think ahead;
- you need to hope for the best, but prepare for the worst;
- time is key in importance;
- you need someone “solvent” with deep industry experience and network.

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The events are dedicated to the practical solutions in corporate business: how to set-up new company, to relocate your business, open a bank account, where to invest money, new developments and trends in the world. Second segment of the conferences is private wealth management: citizenship and immigration, investments in real estate, private banking, etc.

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00:00​ Intro
00:44 Greeting
01:56 About Victoria
03:50 About PSP Angels
06:20 Facts from the speaker
12:28 An example of a situation
13:28 Cash flow health check
17:50 Goals
19:23 Alternative routes
23:39 Tips from speakers
34:19 Summary
35:25 Questions to Victoria

#boscoconference #moneymanagement #cashflowmanagement #taximplications

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