From XU Magazine, 
Issue 28

Providing you and your clients with the tools to grow

At WorldFirst we aim to provide you with the tools to help your clients expand their businesses, so you can grow the revenue for your practice and support your clients in developing their business prospects. As part of our mission to make it easy to do business anywhere, we are working with Alibaba - one of the world’s largest B2B eCommerce marketplaces to help our partners’ clients find new suppliers and new clients globally.

Find new suppliers and strengthening your supply chain

  • Find verified suppliers that create exactly what you are looking for on one of the world’s largest wholesale marketplaces.
  • Benefit from Alibaba Trade Assurance to provide peace of mind on product quality & delivery dates.
  • Pay for the product, ensure its quality, and ship it to your final destination.

Reach new clients and markets to develop and grow

  • Increase your global footprint with a cost-effective way to increase global wholesale sales with an all-in-one selling platform.
  • Leverage built-in sales and marketing tools to target new customers.
  • Take advantage of a rebate offer for new WorldFirst customers valued up to USD 3,999.

Save time and money with international payments

  • Make foreign exchange transactions in 68 currencies easily and at speed.
  • Collect international funds in multiple local currency accounts online, for free.
  • Manage risk with robust hedging solutions and real-time rate alerts.
  • Seamlessly reconcile transactions with Xero integration and reduce your accounting admin.

Buying and selling on Alibaba.com

Doing business with China has become critical to many companies buying and selling internationally. While buying from China is easier than ever thanks to advances in transportation and communication, it can still seem daunting. With over a decade worth experience helping businesses access the China market, WorldFirst is proud to be a Global Service Partner to Alibaba.com.

Since its launch in 1999, Alibaba has become the leading platform for global wholesale trade, and one of the largest ecommerce companies in the world, earning $78.6 billion in revenue in 2020. It is also one the most comprehensive business directories globally, connecting millions of buyers and sellers from all over the world.

As one of the world’s largest global B2B marketplaces, Alibaba.com has 150+ million registered members, 26 million active buyers, more than 150,000 sellers, and receives in excess of 340,000 product inquiries daily. There’s not much you won’t find in its directory.

It’s not just China based sellers either. Quality wholesalers from all over the world now use Alibaba.com to sell their products.

Buyers can also use Trade Assurance, a free transactional protection service, to secure purchases from China based suppliers made via the Alibaba.com payment portal.

Alibaba connect buyers and exporters 24/7 online while supporting the development of trust and peace of mind. This global 24/7 trade show model helps our partner’s clients find new suppliers and new clients globally.

Top tips for choosing new suppliers on Alibaba

  1. Review the company profile: the Alibaba verification system comes with several layers of authentication and seller profile information is both verified and unverified by Alibaba.
  2. Send a message:  one of the unique things that sets Alibaba apart from other platforms, is the ability to speak directly to sellers on Alibaba.com to customise your order, negotiate prices, or learn more about their business.
  3. Attend virtual trade shows: online trade shows are not only more cost-effective than in-person events, but they can help sellers reach all attendees rather than one that would have time to visit their booth.  Just check out the top menu bar on Alibaba.com to get started.
  4. Get product samples: this will allow you to verify the quality. Remember, some suppliers may send you samples at a reduced rate, or for free, if they deem you to be a serious buyer.
  5. Check for Trade Assurance: if the product quality or the shipping date deviates from what the supplier had agreed to in the Trade Assurance order, Alibaba will help you come to a resolution – including a refund.
  6. Monitor and inspect products: opting for Trade Assurance means you can add additional services such as production monitoring and inspection, where a local team will carry out a quality assessment to ensure everything runs smoothly.
  7. Don’t be afraid to walk away: be wary of unrealistic prices or promises made by suppliers – if something seems too good to be true, it most likely is. Trust your instincts, and walk away from the deal.

Reach millions of B2B buyers globally​ with Alibaba.com

Alibaba.com makes ​B2B ecommerce possible ​for sellers around ​the world, connecting ​you with new customers and the tools necessary ​to do business on ​a global scale.​ 

  • Set up a store ​that showcases ​your brand: differentiate yourself ​from the competition ​with a full store dedicated to your products- no coding or design skills necessary!
  • Connect freely ​to build lasting relationships: interact with customers ​on your terms and own ​the relationships, customer contact information, ​and buyers’ background information to foster loyalty and repeat sales.
  • Increase awareness ​and sales with marketing tool: find the right buyers for your products and market directly to them with tools to increase exposure and conversions.
  • Continuously ​improve your store ​and sales: get optimization suggestions from site-based algorithms, and playbooks from industry experts and the professionals at Alibaba.com.

Tie it all together with International business payments made easy

With deep knowledge and understanding of the Alibaba platform, WorldFirst are on hand to help you finalise your Alibaba purchases so you can benefit from:

  • Simple and secure transfers in CNH, USD, EUR and HKD to Hong Kong and Mainland China
  • Same- and next-day payment options – with the flexibility of settling transactions directly in CNH
  • Transparent pricing and fixed fees based on your annual trading volume
  • Competitive foreign exchange rates and fixed FX fees – so you’ll always know the rate you pay for every trade, ahead of time

How can WorldFirst help?

WorldFirst helps customers move money around the world with simple, fast and affordable

FX transactions. Since starting out in 2004, more than 240,000 businesses have utilised our services to send more than £87bn around the world.

Today, WorldFirst provides a range of tools and services far beyond global money transfer, with international payment and collection accounts, marketplace integration and hedging products.   

Next steps

With many years’ experience working with SMEs who are selling internationally on global marketplaces, WorldFirst has the knowledge and expertise to help accountants, bookkeepers and their clients reduce the costs associated with expanding internationally by diversifying and nurturing their sales channels for growth.

Contact us for more information on how your accountancy or bookkeeping practice can benefit from partnering with WorldFirst.

Why leave it there?

For more information on how your accountancy or bookkeeping practice can benefit from partnering with WorldFirst or how we can help your business

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