Global currency surprises alone may not be sufficient to sell the C-suite on the need for more advanced FX analytics and tools. Those treasurers intent on convincing their bosses of this need may want to frame their arguments in a way that non-treasury professional can appreciate.
If you’re at AFP in Las Vegas next week, stop by FiREapps Booth #126. And be sure to come hear Wolfgang Koester talk about best practices for FX predictability as well.
Not having that complete, accurate, and timely view of FX exposure is becoming increasingly costly; according to FiREapps’ most recent quarterly impact report, U.S.-based multinationals saw losses of $3.67 billion in the first quarter of 2013 – and those were just the losses companies quantified.
In May GTNews featured an article about our work with Hubbell, which exemplifies how FiREapps can help companies new to international business manage currency risk as they rapidly expand into new markets. When they came to us, Hubbell was experiencing unacceptable FX volatility. Here is FiREapps did.
After determining that an outside solution would be necessary, and then undergoing a rigorous selection process, Hubbell selected FiREapps, designed specifically for treasury organizations seeking to establish an institutionalized FX risk management program for the first time.