Foreign exchange (FX) management can be a maze for global companies. With profits spread across currencies and markets, even minor fluctuations can spell major challenges for CFOs and treasurers. For many, FX volatility disrupts earnings, complicates financial planning, and increases hedging costs. But companies like Bio-Rad and ServiceNow are proving that with the right tools, those challenges can become opportunities.

Bio-Rad: Scaling with precision

For Bio-Rad, a global life sciences and diagnostics leader, managing FX was a challenge. Legacy systems and manual processes made it tough to collect accurate exposure data and translate them into actionable hedges. Forecasts were often not available, leaving the treasury team reacting to FX impacts rather than steering the course strategically.

Kyriba flipped the script. By integrating exposure data from SAP into Kyriba’s liquidity performance platform, Bio-Rad gained greater control over the pre-trade phase. This significantly reduced inefficiencies and the number of currency pairs Bio-Rad needed to hedge, as well as the volume of monthly trades.

Even better, Bio-Rad’s treasury team moved their FX hedging program cycles to quarterly, giving them more time to refine their strategy and focus on accuracy. They also utilized value-at-risk (VAR) analysis to justify adding or reducing currency pairs, further optimizing their FX hedging program mix. With Kyriba, they are no longer just reacting to marketing conditions. They’re proactively managing them.

ServiceNow: Building for rapid growth

ServiceNow is a story of rapid evolution. With revenue growing from $2 billion to nearly $10 billion in just a few years, their FX management also needed to scale quickly. The traditional, fragmented approach to managing currency exposure couldn’t keep up with their pace of growth.

Kyriba was the foundation for a complete overhaul. By implementing an integrated solution, ServiceNow now enjoys an end-to-end system for exposure analysis, trade execution, and post-trade compliance. Whether loading forecast data or generating audit-friendly general ledger entries, Kyriba streamlined every step. For their cash flow FX hedging program, ServiceNow also leveraged best practices in cash flow hedging strategies to protect their operating margins.

The result? ServiceNow was able to launch a cash flow FX hedging program that protects against market volatility and enables precise, margin-saving decisions. Beyond treasury, departments like accounting and IT are also benefiting from more seamless collaboration and transparency across the FX workflow.

Top Lessons from FX Transformations What makes these companies’ results possible? A few common themes emerge from their success stories: Harnessing automation: Manual processes don’t pass muster anymore. Automated workflows, like those Kyriba provides, free up time that treasury teams can reinvest into strategic objectives. Leveraging actionable analytics: Whether it’s uncovering hidden exposures or tracking trends across volatile currencies, data-driven insights give companies an edge. Kyriba’s FX solutions deliver the tools to analyze and act on even the most complex FX data. Simplifying to save costs: Streamlined processes not only reduce the margin for error but also lead to measurable cost savings in execution and FX hedging program efficiency. Building a scalable future: From Bio-Rad’s leaner FX hedging program operation to ServiceNow’s rapid business growth, all three companies embraced Kyriba’s tools to scale and evolve their FX programs effectively.

Whether you’re an industry leader or a fast-growing innovator, FX challenges will always loom. But these stories show that complex problems don’t require complex solutions—just the right ones. From automation to analytics, Kyriba is enabling companies to transform their FX strategies, delivering better results, and empowering smarter decisions.

Are you ready to future-proof your FX management? Contact us today to explore how Kyriba can transform your FX strategy and help you make smarter, more strategic financial decisions.