MANUFACTURING INDUSTRY

Payments for the Manufacturing Industry

Your complete guide to spend management and payments automation in manufacturing businesses is here. Learn how to reduce exposure to FX for imports and exports, and streamline your global and local accounts payable, as well as employee and travel spend management.

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Manufacturing Business: Transform Payments, Achieve Growth

When you are asked to 'deliver more with less', small changes to your process can have a large impact. You need payments processes and partners who will support you in transforming how you make your payments and manage spend.

Are you looking to:

Gain increased certainty and visibility over your currency exposure from imports and exports
Halve payment timelines
Integrate international payments across payment platforms
Automate travel and expense processes
Partner with a supplier with expertise in manufacturing, who can support you with streamlined services?

Reduce Financial Risk

Manufacturing businesses, large or small, who import or export materials or products are at the mercy of both exchange rates and fees from their provider - and often without a personal account manager handling their work. Caxton offers a personal account manager to all sized businesses, as well as a range of advice and hedging solutions to individually tailor solutions to your manufacturing business' exact currency needs.

Reduce Administration of Employee Spend and Travel

Manufacturing finance teams need to operate like a high-powered machine to keep pace with project budget approvals, expense reports, and employee reimbursements. Not to mention tracking spending for individual projects and organising information to set future budgets. Manual expense management invites room for delays, errors, and fraud or losses.

When you opt to abandon outdated manual expense processes, in favour of an automated expense management platform, the benefit is a multiplier of all staff. Moving to an automated expense management platform means diverting time spent chasing incomplete forms and reimbursing employees, to more strategic work for all teams involved.

Halve Payment Timelines with Streamlined Bulk and Payroll Payments

Sending hundreds or thousands of payments to staff and suppliers each month can be labour intensive and expensive. Overseas payments add an additional level of expense and labour. Maintaining adequate cash flow is one of the most important factors for any business day-to-day, so making bulk and payroll payments 1-2 weeks before the actual payday can leave businesses with a hole in their balance sheet. Automating payroll payments can lead to same-day payments, which could see your manufacturing business in a better financial position.

Best of British

British manufacturing is world class, and clever manufacturing businesses are hunting out the best suppliers across the globe - whether they manufacture onshore or off. When choosing Caxton as your payments supplier you can be assured of our world class operation - right here in the heart of London. Nothing beats the personal service you get at home.

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Case Study: Engcon

A global powerhouse in tool manufacture, Caxton delivered a plan that limited exposure of Engcon to the often fluctuating FX market – allowing them to focus on their day-to-day business.

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Case Study: Florian Leonhard

FX markets play an important part in this business of bespoke violin manufacture and Caxton replaced the function of a bank to save the business money on fees and time.

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Help: Hedging a Budget Rate

A budget rate is a reference exchange rate, applied to foreign exchange transactions undertaken by a business. Hedging strategies are taken out to ensure the budget rate is protected.

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Get the Basics Right

Good compliance with expenses in your manufacturing business starts with a clear business expenses policy. Download this comprehensive 7-page expense policy template suitable for your manufacturing business - all ready for you to edit in MS Word and get the basics in place for clear policies and procedures covering all areas of expense management.

Download Expense Policy Template

The Solution for Manufacturing is Here

Caxton, the original fintech payments company, are transforming payments operations in British and global manufacturing business, every day. Our expert teams live and breathe the manufacturing industry and understand first-hand the issues facing manufacturing industry finance leaders as they transform legacy payments process in an effort to get more from existing resources.

We work one to one with manufacturing finance and procurement teams to adapt our payments platform to your business' specific requirements. We have strong ties into British and European manufacturing across the country, transforming payments, and modernising outdated payments process.

With 20 years experience, underpinned by the expertise of a strong (and growing!) team, we stand tall as a leading UK payment solutions company. Today, hundreds of thousands of organisations trust us to deliver their financial transactions – both domestically and internationally. Last year alone Caxton processed 8.6 million payments for organisations just like yours.

With no obligation and plenty to action from an information session - can you afford not to investigate?

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