Case Study: MGH Equipment achieves reliable pricing and saves thousands with OFX

How MGH Equipment brings competitive prices to their customers and saves thousands

MGH Equipment, a service specializing in process equipment, faced financial challenges due to international transactions. As a US distributor for Italian-made tractors, the company was subject to a 7 percent bank margin on each Euro payment, and its profitability fluctuated with the volatile dollar/euro exchange rate. To stabilize its pricing, the company turned to vendor OFX for a solution.

OFX provided a tailored currency risk management strategy that utilized forward contracts and spot contracts. This solution from OFX stabilized MGH Equipment's price lists, allowing them to offer competitive market pricing. By avoiding bank fees and mitigating exchange rate risk, the company saved thousands of dollars on its transactions, with small fluctuations amounting to significant savings.