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Success Stories
Align Technology: FX Hedging Program in Alignment with Senior Management’s Goals
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"Align Technology, along with Kyriba and Refinitiv FXall, has created a simplified hedging program with rock solid analytics. Senior Management is again confident with the FX hedging program."
Laura Fisher, Financial Risk Management
Challenges
- Data visibility, collection, and analysis were very difficult
- Daily Rate Environment caused complexity in analyzing results
- Regionalized approach resulted in multiple iterations of accounting principles and platforms, preventing visibility into FX exposures
- FX trades done manually over the phone, leading to rate loss and non-competitive bids
Solution
- Moved from a daily rate to a monthly rate environment for the FX Program
- Integrated Kyriba FX with SAP ERP and implemented Data Integrity Analysis to validate exposure and identify inconsistencies
- Began scorecards for regional accountability based on actual vs. forecasted analysis
- Introduced trading partner FXall to provide market-best rates for trades
Outcomes
- Streamlined data flow end-to-end and gained confidence in data, decision-making, and the FX hedging program
- Monthly Rate Environment with refined forecast methodology and visibility into true exposures
- Eliminated spreadsheets and manual input with automation and ERP integration
- Reduced overall cost of hedging with best-rate availability
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Industry
Global Medical Device Manufacturing and Distribution
Revenue
$4.0 Billion
Employees
+22,000
Related Resources
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