2008-07-16 07:01:00
Oracle Users Gain a New Advantage in Managing FX Volatility as an
Enterprise Risk
SCOTTSDALE, Ariz.–(EMWNews)–FiREapps, the leading provider of foreign currency exposure management
software, announced today that it has released a new version of its
foreign exchange exposure management software that makes it easier for
treasurers who rely on Oracle EBusiness to gain automated access to the
transaction data they need to calculate their foreign exchange exposure.
The new offering enables corporate treasurers to create complete
exposure data sets and calculate foreign exchange exposures quickly and
easily. FiREapps for Oracle automates the process of aggregating
business system data to derive actionable transaction currency
information for foreign exchange exposure management in seconds, rather
than days.
“Multinationals from around the world have
shown us how difficult it is to get complete foreign exchange exposure
data out of their ERP systems, and how inaccurate their exposure
calculations can be from the data they do get,”
said Wolfgang Koester, CEO of FiREapps. “Through
FiREapps for Oracle, we have created a solution for treasury departments
that leverages one of the world’s foremost ERP
systems to provide quick and simple access to the transaction data they
need to quantify and manage foreign currency volatility. Our investment
in this solution delivers a path to effective FX exposure management for
tens of thousands of companies worldwide.”
Relying on manual processes, experienced treasurers find that they are
unable to derive complete and accurate transaction currency data from
their ERP systems in a timely manner. The common use of spreadsheets to
calculate foreign exchange exposures based on this data introduces
errors and uncertainties into the process. As a result, most treasury
departments are unable to understand the sources of their exposure, or
adequately protect their company from foreign currency volatility.
FiREapps for Oracle enables corporate treasurers to efficiently access
transaction currency data from Oracle in a way that allows them to focus
more of their energies on the root causes of foreign exchange exposures –
by entity and at the transaction level.
“Before using FiREapps the process to compile
an exposure data set from Oracle was entirely manual,”
said Brent Callinicos, vice president and treasurer for Google, Inc. “FiREapps
was quick and easy to install and has given us centralized and constant
access to all foreign currency exposure data throughout our business
units. We can now devote our time to strategically managing exposures.”
To help Oracle EBusiness users learn more about FiREapps for Oracle, the
company is hosting a free Webinar on Wednesday, July 23, 2008 at 11:00
a.m. PST / 2:00 p.m. EST. Participants will learn about the challenges
that companies face managing transaction currency data within Oracle,
and how to overcome them with an automated solution. For more
information, visit http://www.fireapps.com/News/webinars.asp.
About FiREapps
FiREapps, a subsidiary of Rim-Tec, Inc., is the leading provider of
foreign currency exposure management software. The company provides
technologies and services that help corporations optimize foreign
exchange processes. These solutions help customers mitigate risk while
increasing profitability and operational efficiencies. FiREapps has
offices in Scottsdale, Arizona, Boston, Massachusetts and
Portland, Oregon.
|
Schwartz Communications |
|
Major Newsire & Press Release Distribution with Basic Starting at only $19 and Complete OTCBB / Financial Distribution only $89
Get Unlimited Organic Website Traffic to your Website
TheNFG.com now offers Organic Lead Generation & Traffic Solutions
