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Insight to All Things Currency and Treasury Management

On Monday this week, Treasury & Risk published an article about the latest release of our FX Exposure Management platform, which raises the bar for managing FX losses as well as exposure visualization and management.

“FX exposure management programs are only as effective as the numbers they use,” says Joseph Neu, Founder and CEO of The NeuGroup. It’s true, and the fact is that many enterprises can’t say (not with confidence anyway) that they have, at a moment’s notice, at the push of a button, a complete and accurate picture of their exposure across all of the currency pairs they do business in.

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.

So how does an enterprise get to a place where its FX exposure management program is truly optimized, where financial operational excellence exists across the Treasury, Controller, Business Unit Finance, FP&A, and Tax functions – where FX gains and losses are kept under the industry benchmark of $0.01 EPS? Only by institutionalizing data integrity processes.

And that is exactly what the award-winning cloud-based FiREapps FX Exposure Management platform provides. The latest release features a streamlined user interface along with richer analytics, enhanced data management, and a flexible visualization layer. The automation and controls the release provides allow enterprises to make strategic analytics the lynchpin in their efforts to manage FX exposure – to ensure the integrity of the numbers that are, after all, driving management decisions.

 

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