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Insight to All Things Currency and Treasury Management

Maybe it was the setting (Sin City, where what happens there, stays there)…But the 2013 AFP Annual Conference was our best-attended ever. All jokes aside, I don’t believe it was because of the location. It is partly the economy: Economic recovery is finally gaining momentum – a fact reflected in the recently reported third quarter GDP growth rate of 2.8%. Now, corporations can turn more attention to improving processes like FX management.

Treasurers, FX managers, and other finance professionals from the top corporations in the country came to Vegas to share and collaborate on solutions to very specific problems – problems like keeping currency impact from balance sheet alone to less than $.01 EPS. As a result, over the two-and-a-half days we had hundreds of productive conversations about how corporations can manage currency risk better (i.e. more effectively) and save money doing it.

Beyond the economy, the significant interest in FiREapps at AFP reflects an increased awareness of the impact of currency volatility on corporate earnings. We used to get a lot of questions about why corporations should care about managing currency risk well. Now people understand the importance of managing currency risk and questions center on how to do it. The awareness of the problem and the desire for a solution is clear, commencing with the understanding that you can’t properly solve the problem without accurate, complete, and timely data.

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To see the whole slideshow of pictures, visit FiREapps on Facebook.

In addition to the hundreds of people who stopped by to talk FX risk management with us, we want to extend a very special thank you to the customers who took the time to come to the booth and share their stories of what they have been able to achieve with FiREapps. Having our customers share their FiREapps stories and evangelize for us – to help prospects learn firsthand what we can do – is amazing. That kind of customer support is not something we see with other vendors.

I would like to extend a special thank you to:

  • Karen Kamp, Treasury Analyst at Avnet and Lauri Gutierrez Odenburg, CTP, Treasury Manager at Avnet who shared their experience using multiple ERP systems to get to a single truth with FiREapps One View
  • Stuart White, Senior Director Tax and Treasury at Plantronics, who talked with prospective customers and other visitors about how to provide a scalable foundation for FX risk management with FiREapps Pro
  • Luis Montiel, Treasury Director at Jabil, who spoke about how straight-through processing helps risk managers make smart choices with FiREapps STP
  • Dennis Close, Director of Treasury at Nuance Communications, who shared her experience institutionalizing an FX risk management program for the first time with FiREapps On Ramp

In addition, thank you Luis Montiel, Treasury Director at Jabil and Helen Kane, President of Hedge Trackers, who joined me in a presentation and lively follow-up discussion on FX predictability and compliance in global operations. And finally, we would like to thank all of the other customers and partners as well as the prospective customers we had the opportunity to meet and interact with.

Stay tuned here over the next days and weeks; we will be sharing additional insights gleaned from AFP, as well as the new whitepaper we unveiled there.