Currency fluctuation can have a significant impact on your business. Let's change that.
Does your business have significant sales from the US or other countries? Do you pay for equipment or services in USD or other currencies? If so, you have probably experienced the woes of being vulnerable to foreign exchange volatility. Lost profitability and inability to plan for the future are just some of the challenges that arise from not strategically planning for market changes.
What many companies are unaware of, is that there are financial instruments and simple cost-saving strategies used to guard from this volatility, or minimize the impact that a negative move in the market can have on revenue and expenses. Our aim in this series is to help educate and equip you with some fundamentals that will help you better understand and develop a risk management policy for your organization.
An effective FX risk management strategy can not only save you money in the long-term, but can also help your business remain more competitive in the market, grow foreign income, and enable your business to plan its future with reduced uncertainty.