Having a multinational workforce, and outsourcing operations to overseas providers, can be good for business. It's becoming more commonplace due to globalisation, as businesses expand into international markets. However, it carries risks, not least of all through currency fluctuations.
Businesses that outsource staff and services offshore can be significantly impacted by currency fluctuations. Ignoring foreign exchange rates and costs when contracting out or paying suppliers can have a big effect on margins. This guide, details some strategies to manage currency risk, and the impact can have on your operations.
Our guide includes:
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