FiREapps Introduces Hedge Performance, a New Standard for Corporate Currency Analytics
SCOTTSDALE, Arizona, June 20, 2016
FiREapps, the #1 solution in corporate currency analytics, is officially releasing its Hedge Performance Analysis toolkit which automates period-end hedge attribution/performance analysis for corporate finance professionals.
FiREapps Hedge Performance Analysis automatically isolates underlying drivers of FX gain/loss, providing Treasury professionals with the ability to measure and clearly report the efficacy of their balance sheet currency hedging program on an ongoing basis. Without FiREapps, this process involves manually aggregating a multitude of data sets and executing complex and error-prone calculations to derive key performance indicators for balance sheet hedging programs.
“Currency volatility provides a constant backdrop of unpredictable financial and operational challenges for companies operating globally,” said Wolfgang Koester, CEO and co-founder of FiREapps. “The last 18 months of volatility have reinforced the importance of quick access to critical currency analytics required to drive smart, effective corporate currency decisions. FiREapps’ Hedge Performance is meant to give Treasury and Finance professionals an edge, reduce inefficient steps and increase time to act strategically.”
The tool’s one-click reporting compares expected FX gain/loss on a corporate’s balance sheet to actual performance, including hedges. Variances between the two sets of numbers are then attributed across a myriad of possible causes, including forecast error, trade delay, forward points, unhedged exposure, and other unexplained variances. This gives corporates granular detail into the true drivers of their company’s gain/loss and removes the ‘noise’ from reporting.
In addition to the Hedge Performance toolkit, FiREapps has also extended the power of their Revenue and Expense variance analytics, initially rolled out last fall, with this release. The toolkit was built to remove the time, error and monotony from performing what-if, sensitivity, constant currency and period-over-period analysis. It now delivers the ability to roll-up the monthly period data already validated and available via FiREapps extracts into 1 quarter or (12 months into) 1 year. The toolkit powers fast, flexible period-over-period analysis and ultimately provides the speed and ability necessary to make quick, scenario-based risk management decisions.
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 to 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.