FiREapps: Highly Efficient FX Processes, Practices and Training
RISK MANAGEMENT METHODOLOGY
FiREapps runs a data-driven currency-flow analysis that helps clients better understand their unique FX challenges to better align risk management goals and objectives.
Once the analysis is complete, treasury professionals can:
- Aggregate data from accounting and ERP systems
- Define and model a view of foreign exchange exposure
- Map exposures to business operations & risk mgmt. policies
FX ANALYTICS PLATFORM TRAINING
End-to-end user training phased over multiple sessions ensures success in reducing the impact of FX on financial statements with minimal time impact. FiREapps offers recorded training sessions and full documentation to help treasury teams learn to interpret their data and formulate analysis and reporting needs.
FiREapps customer support throughout the subscription lifecycle.
Unlimited access to FiREapps Support Network includes:
- Support ticket submission form
WORKFLOW DESIGN & EXECUTION
The FiREapps Professional Services team can architect system workflows and data flows to leverage each component system and data source. An optimal workflow and straight-through processing help to achieve maximum risk reduction results within preset FX program and policy parameters.
RISK MANAGEMENT POLICY REVIEW
FiREapps will help you dive into your current FX risk management program to determine how well your strategy aligns with business operations and look for opportunities to increase efficiency.
Recommendations may include:
- Leveraging FiREapps to interact with other systems
- In-depth assessment of FX program effectiveness and contributions to FX gain/loss variance
- Opportunities to automate and refine your existing process
- Quantitatively benchmarking FX exposure, risk, hedge effectiveness and cost savings opportunities
- Training tips to enhance utilization of existing FiREapps application capabilities
The FiREapps Professional Services team has helped companies in a wide range of industries define goals, establish processes and demonstrate measurable improvement in FX risk management through various custom projects.
Examples of custom projects include:
- Transactional currency and FX gain/loss data integrity analysis
- Data analysis focused on FX understanding and management policy development
- Review and guidance on multi-currency configurations and procedures during ERP upgrades
- Data analysis and decision support to explore policy parameters for organic exposure elimination and external hedging opportunities