Global payments and risk management provider AFEX has today announced a partnership with specialised global accounting firm, Addsum, enabling Australian-Chinese businesses to trade more seamlessly across international borders.

Established in 1996, Addsum Accountants is a well-established professional firm providing financial, accounting and taxation services to cross-border corporations, high net worth families and the wider Chinese business community in Australia.

With offices throughout Australia and Asia, AFEX has been working with businesses in the Australian-Chinese community for over a decade.

Commenting on the announcement, Richard Poulton, Managing Director, AFEX Asia Pacific said: “Having worked with the Australian-Chinese community for many years, we are well aware of the important contribution migrant businesses make to the Australian economy.

“Joining forces with Addsum further strengthens our support of the Australian-Chinese business community. The partnership means we can now offer clients a holistic service across accounting, FX and payments.

“We know many of these businesses operate across borders, particularly importing and exporting with China, and can be heavily exposed to currency and payment risks,” Mr Poulton said.

“As many businesses would have witnessed throughout the turbulence of 2020, currency fluctuations can have a major impact. Having a robust currency risk management strategy in place is an essential part of maintaining competitiveness, efficiencies, and profit margins.”

Headquartered in Sydney, Addsum has offices in Melbourne Auckland and Singapore.

Cathy Guo, Founder and Managing Director at Addsum, said: “We are delighted to join forces with AFEX and combine our strengths in providing financial and funding risk management services for clients in the Australian-Chinese business community.

“The heightened compliance focus by regulatory bodies and ongoing currency movements mean our clients are face increasing challenges in managing their financial and taxation risks. These challenges require AFEX’s expertise and guidance to ensure clients can smoothly expand and invest in their business.

“By working closely with AFEX, we can ensure our clients have robust risk mitigation strategies are in place, and all aspects of their finances are professionally managed.”

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Source: https://australianfintech.com.au/afex-and-addsum-partner-to-enable-seamless-cross-border-trade-for-thriving-australian-chinese-business-community/