FiREaaps and Hypercom to Present Webinar on Corporate Foreign Exchange Practices
Hypercom Senior Vice President of Finance, Treasury and Investor Relations and FiREapps CEO and COO to Share Best Practices for Corporate Foreign Exchange Management
SCOTTSDALE, Ariz. —March 19, 2007—FiREapps, the leading provider of Corporate Foreign Exchange Management Technologies, announced today that Hypercom Senior Vice President of Finance & Treasury and Investor Relations, Scott Tsujita, and FiREapps CEO Wolfgang Koester and COO Corey Edens, will discuss how the electronic payment solutions company improved its earnings predictability and saved more than $4 million annually in foreign exchange financing expenses over the last four years.
For some treasuries, it may take a large, unhedged loss that they never want to experience again; for others, it might be a drive to better control the costs of hedge contracts or a need to centralize a global currency program. Whatever the reason, even companies with years of experience get to a point where their knowledge of instruments, access to market information or basic strategic approach to financial risks could be enhanced through the use of technology.
Scott Tsujita will share how he developed a more hands-on approach to Hypercom’s currency management processes through implementing FiREapps foreign exchange exposure management solution. Tsujita will provide an insider look into the company's new reporting processes and how it better measures and executes hedge contracts.
- Topic: Knowing When To Call In The Big Guns!
- Date:Wednesday, March 21, 2007
- Time:11:30am PDT / 1:30pm CDT / 2:30pm EDT
- To Attend:Call 1.866.928.3473
- To register: https://fireapps.webex.com/mw0304l/mywebex/default.do?siteurl=fireapps&service=6
"I was the first to admit to not being an expert in all the things that go with internal exposure reporting and managing foreign currency risk,” said Scott Tsujita, senior vice president of finance & treasury and investor relations at Hypercom. “With FiREapps, I was able to find an independent third party between me and the banks to advise me on how to get the best hedge rates, timely information about currency movements and how to quickly track our exposures."
“By not relying solely on bankers for all foreign exchange and hedging information, Hypercom is taking control and accountability over its foreign exchange exposure while reducing costs and risks,” said Wolfgang Koester, CEO at FiREapps. “As strong believers that all organizations need to increase their sophistication and acumen for managing foreign exchange, our intention is to provide a learning environment for corporate finance and accounting professionals to learn from cutting edge corporations, such as Hypercom, that have successfully established cost effective and compliant risk management.”
About Tsujita
Scott Tsujita is senior vice president of finance & treasury and investor relations at Hypercom. He is a 20-year veteran of the electronic payment and financial service industries. Prior to joining Hypercom in 1992, he served with KPMG Peat Marwick in Vancouver. Tsujita also served as Senior Manager with Phoenix-based Zolondek, Blumenthal, Green, Freed & Strassels.
About Koester
Wolfgang Koester is the CEO of Rim-Tec, Inc. which developed FiREapps, the leading corporate foreign exchange management technology firm. Koester has been managing risk for Fortune 100 companies as well as governments, including G-10s, since 1986. Prior to forming Rim-Tec, Koester served as President with GFTA Trendanalysen Inc., a quantitative currency manager.
About Edens
Corey Edens joined Rim-Tec, Inc., as COO and vice president of product management in 2000. Prior to this appointment, he was the President of Valcon Distributing Ltd., Inc. Before Valcon, Edens served as the Controller and Director of Operations for the Microsoft Network. Edens works closely with Rim-Tec’s customers to design, develop and implement the FiREapps solution.
About FiREapps
FiREapps, a subsidiary of Rim-Tec, Inc., is the leading provider of Corporate Foreign Exchange Management Technologies. The company provides technologies and services that help corporations optimize foreign exchange processes. These solutions help customers mitigate risk while increasing profitability and operational efficiencies. FiREapps has offices in Scottsdale, Arizona and Portland, Oregon.
Contact:
Dara Sklar or Michael Kellner
Schwartz Communications
415-512-0770
