Adrian Watson, CFO
Adrian Watson, CFO
A company with a futuristic approach to an extraterrestrial service needs a global payments service to match
When you’re immersed in the world of satellite and aerial imagery with expert analysis of imaging data to give companies an “information edge” over their competitors, it’s critical to ensure you keep tight control of your own costs.
Established in 2012 by a number of industry experts, Geospatial Insight sources satellite and aerial imagery, and once acquired expertly interpret it. This interpretation can help clients better understand risk and manage it accordingly, can help support investment decisions, monitor and map assets, measure competitor performance and market share, as well as providing the rapid delivery of data following a major catastrophe event such as flooding. This proprietary data helps its clients gain an ‘information edge’ over their competitors.
Intelligence sourced by the company is often outside the public domain and unpublished but it can provide a clear picture of a client’s area of interest. Gathering this data from many different international service providers means Geospatial is frequently invoiced in several non-GBP currencies.
“At Geospatial, traditional research methods have been replaced with our more modern approach. We wanted to replicate that internally - to take a new perspective when it came to our own payment methods,” Adrian Watson, the company’s CFO, comments.
“We conduct large sale analysis for many of our corporate clients and each month we make international payments for these services.”
Watson was introduced to Money Mover, a disruptive FinTech company offering a secure and transparent global payments service, through the Cambridge Network, a membership organisation based in the vibrant high technology cluster of Cambridge. He had just completed an institutional investment round for one of his other companies and had seen an article written by Money Mover about helping SMEs reduce the cost of making global payments.
“Like many SMEs we’ve historically relied on our clearing bank to make our foreign currency payments. Whilst this was the quick and easy option it wasn’t the most cost effective – the bank exchange rates were at least 3% away from the mid-market price and these costs were adding up,” explains Watson.
After a conversation with Money Mover, and a review of its web application, it was clear that these costs could be reduced. Money Mover’s simple registration process, clever technology and the highest levels of security convinced Watson to make the switch.
“I reduced my fees by 60% by using Money Mover compared with what we would have paid at our bank – and that saving goes straight to our bottom line. Other payments services draw clients in with the promise of the best rates but fail to deliver once you’ve registered. Money Mover’s rates are always transparent and consistent, and don’t get worse over time,” adds Watson.
As a result of the savings he’s made for Geospatial, Watson is now reviewing global payment practices at his other businesses with Money Mover.
To see for yourself the savings you could be making by using Money Mover click here for a free international payments review.