PRESS RELEASES

Multinationals Attributed More Than ($20BN) to Headwinds from Currency in Q1, Despite a Quarter of Slowing Trends

August 5, 2016

SCOTTSDALE, Ariz., Aug. 5, 2016 – Q1 2016 remained the third quarter in a row that 40% or more of the North American corporates monitored reported a currency headwind, according to the FiREapps Q1 2016 Currency Impact Report.

As expected, the trend of consecutive, record breaking negative impacts from currency volatility slowed in Q1. In this slowing, a new trend gained support. FiREapps reported that as of Q1, $20BN appears to be a new baseline of negative impact due to constant currency headwinds. Q1 is the third time in two years that volatility has apparently decreased, but not to the previously established baseline level of $4BN.

With 9 surprises in 9 quarters, affected by 8 different currencies, the quarterly report— an established source of industry data and trends— emphasizes the fact that unpredictability will continue to remain the norm. Although CFOs are steadily becoming even more currency aware, the markets are continually becoming more unpredictable.

“Wherever it arises, the next currency crisis will cost unprepared companies disproportionately more,” the report states. “As the adage goes, the mark of insanity is expecting different results from the same actions; it is insanity to expect different results with the same risk management processes in an ever-riskier environment.”

Of note – in response to the continued, surprise volatility made especially apparent over the last 9 quarters and most recently with Brexit, FiREapps released its Rapid Response Exposure Analytics solution in June. The technology and delivery were created specifically to help corporates navigate periods of rapidly changing currency conditions – delivering full, on-demand visibility into global currency exposures.

For more information on the Q1 2016 Currency Impact Report, visit: http://fireapps.com/learn/q1-2016-currency-report.html

For more information on the Rapid Response Exposure Analytics solution, visit: http://fireapps.com/learn/brexit-analytics.html

About FiREapps

FiREapps is the leading provider of Corporate Currency Analytics and FX exposure management technologies. Established in 2005, FiREapps developed the first solution to automate foreign exchange exposure management for multinational companies. Through a combination of software solutions and expert analysis, FiREapps helps companies ensure they’re accurately measuring and managing their FX exposures. Numerous Fortune 500 companies rely on FiREapps technology to help them reduce FX risk and increase efficiency every day.

FiREapps is headquartered in Scottsdale, Arizona, with offices in Portland, Oregon; London, England; and Frankfurt, Germany. For more information, visit www.fireapps.com.

CONTACT: Fitch Carrere, +1 480-443-7333 x164 fcarrere@fireapps.com