SOURCE: Proformative

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May 24, 2010 09:00 ET

Financial Professionals to Address Managing the Euro Crisis

Proformative-Hosted Webinar Panel Discussion to Explore Results of F/X Benchmarking Survey

SAN JOSE, CA--(Marketwire - May 24, 2010) -  Proformative, the resource for corporate finance, accounting, and treasury recently announced a free webinar, Foreign Exchange Exposure Management: Best Practices in Theory & Practice, to be held Thursday, May 27, 2010, from 11:30am to 12:30pm Eastern Time. The content will focus on optimal F/X exposure management by examining the results of a joint survey conducted by FireApps and SunGard Financial, which was designed to benchmark foreign exchange exposure and risk management practices. 

The study results are based on responses from 275 participants across 16 primary industries, and more than 17 regional classifications. A few of the more compelling survey results that will be addressed in the webinar include:

  • 71% of respondents state that they hedge 80% or less of their exposure, while 34% report that they hedge less than half
  • 59% of companies surveyed experienced a material FX gain/loss in 2009, which represents an year over year increase of 45% increase from the survey when conducted in 2008
  • Only 29% of those reporting a material F/X gain or loss monitor exposures on a daily or weekly basis

"This survey clearly underlines why companies today are struggling to understand and manage the economic impact of the current euro crisis and heightened FX volatility on their businesses," said Wolfgang Koester, CEO of FiREapps, "Manual systems and processes that once were adequate to provide transparency to FX exposures have broken down in the wake of a constant onslaught of global financial upheaval; today's global market requires automated FX exposure management and complete risk transparency."

The Proformative-sponsored webinar is designed to address these issues and provide insight and guidance into FX management amid the Euro crisis. It will include an interactive panel discussion with renowned corporate practitioners in the arena of FX risk management from three main industries reflecting the survey respondents: electronics/components, industrial manufacturing, and consumer goods.

"We have seen a heightened level of concern and interest regarding FX management in the discussion forums and blogs on Proformative in recent months," said John Kogan, CEO of Proformative. "This webinar has been designed to address those concerns and offer actionable insights in how to deal with the current euro crisis and the associated volatility in the currency markets."

Registration for the webinar must be completed by May 25. The event and Proformative membership are both free.

About Proformative
Proformative (www.proformative.com) is a free and open resource and community dedicated exclusively to serving the needs of corporate finance, accounting, treasury, and related professionals. Founded in 2009 in Silicon Valley, Proformative is community-driven and delivers a productive, 'noise-free' environment for its members. Proformative's members find free resources and a community of their peers that enable them to learn and get work done. Privately funded and privately held, Proformative was created by co-founders John Kogan, CEO, and Greg Stout, CTO.

About FiREapps
FiREapps™ is the leading provider of on-demand software solutions for managing foreign exchange exposure. The company provides technologies and services that help corporations optimize foreign exchange processes. These solutions help customers mitigate risk, reduce costs and increase profits through optimized efficiency and process transparency.

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