The ways in which business has changed in the past decade,particularly because of the power of the Internet, haverevolutionized a lot for small business owners. Areas that used tobe strictly the territory of enormous corporations, such asinternational business, are now easier to participate in and smallbusiness owners have been quick to adapt. However, whether you’regetting your feet wet or swimming in the deep end of the globalmarketplace, keeping track of your international transactionsdoesn’t need to be overwhelming.

When you’re crossing borders, there’s no question about whethercurrency fluctuations will affect your business and youraccounting. They will. And while it can definitely be a challenge,methodically tracking your transactions – whether it’s money you’resending to vendors and distributors or payments you’re receivingfrom business clients – will make your life much easier.

In the past, record keeping was exponentially more difficult forcompanies operating on an international scale. Necessary tasks,like backing records up in multiple formats, storing them andfiling them, cost a lot in terms of time and money – and that’swithout the added complications of working across currencies.

Technology is on the side of small business owners, though, andwith tools like FX International Payments, the process issimplified and digitized. With the ability to easily convert all ofyour international payments information from euros and yuan todollars, you’ll be a step ahead in record keeping.

Using an online service like FX International Payments hasmultiple benefits for small business owners who are often on thego, stretched thin with the amount of work required by aninternational business. It simplifies sending and receivinginternational payments, and centralizes transaction records, soyou can easily log on to check payment statuses, dates, currenciesinvolved and the exchange rates being used – and everything isautomatically saved. Since you’ll often need to transfer theinformation elsewhere, you have the ability to upload data indifferent formats.

While technology has opened new worlds for internationalbusiness logistics, it’s essential to remember that not all Webservices offer the security you need. Phishing scams pose a risk toyour business and your finances, and without the properprotections, it’s unfortunately easy to fall victim when makinginternational payments or working with suppliers abroad.

The best protection is to make sure that you’re using tools andservices that are secure. Centralizing your transactions and recordkeeping through a trusted service like American Express’s FXInternational Payments, which offers a secure online platform withadvanced encryption and firewall technology, can lessen the risk ofbeing subject to phishing or other scams.

For small business owners who don’t have an army of currencyexperts and Web security specialists on staff, doing businessinternationally is full of extra challenges, from currencyconversion to international wire transfers. But with some smart organizationand a bit of help from outside experts, competing on a global scaleisn’t just for big business anymore. For more information about FXInternational Payments by American Express, go towww.americanexpress.com/fxip.