HELP!!! Cash Management

Old Sod is an online retailing business located in Ireland that sells traditional Irish merchandise around the world. Three quarters of its customers are in the US, 10% are in the UK, 10% in the Euro area, and the remainder are spread across the rest of Europe and in Asia. It is hoping to grow its Asian business.

It has turnover of just over 2million.

Customers generally make small purchases with an average spend of 50 equivalent. Customers can choose to be billed in their domestic currency or in Euros. The business turnover is very seasonal wit 60% of sales in the 4 weeks before mid-March and another 20% close to Thanksgiving at the end of November.

Old Sod sources 70% of its merchandise from manufacturers in China and Vietnam for which it is invoiced in US dollars. The remainder of its suppliers are based in Ireland.

It has a long standing banking relationship with Bank of Ireland, which is its only banking partner.

Old Sod would like advise on the range of cash management options available to it. The Old Sod finance director is not familiar with cash management approaches already.