Success Stories

Align Technology: FX Hedging Program in Alignment with Senior Management’s Goals

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