Currency solutions platform, CurrencyVue, has today announced the launch of its Integrated FX Risk Management Platform, transforming the way businesses manage complex payments and FX hedging contracts.
In partnership with global payments and risk management provider AFEX, the online platform allows businesses to manage international trade, global payments, and foreign exchange contracts via seamless integration into existing software and ERP systems.
The platform pulls foreign currency exposure data from outstanding purchase orders and invoices, automating risk management and payment activity to reduce the time and costs associated with manual processes and FX complexities. A recent global survey by Deloitte found that nearly 60% of businesses struggled with a lack of visibility of their FX exposures and the reliability of forecasts.
CurrencyVue CEO and Founder, Matt Tyrrell, said the partnership with AFEX was a game changer for CurrencyVue users.
“We know that making payments and hedging against FX volatility can be complex and time consuming, with spreadsheets previously used to fill the gap. It is clear that larger SME and mid-market businesses require a quicker and more efficient way to handle FX and payment capabilities,” Mr Tyrrell said.
“Partnering with AFEX means our Integrated FX Risk Management Platform enables businesses to integrate all FX payments - a capability not previously available to the mid-market.
“Put simply, we are giving businesses the ability to automate and standardise painful, manual processes, and gain efficiency - the feature most desired by businesses exploring alternate providers.”
At launch, the CurrencyVue Platform has integrations with ERP systems: Netsuite and Microsoft Dynamics Navision, with more under development.
“As two of the most popular ERP systems in the mid-market for wholesalers and manufacturers, there has been strong domestic and international interest in the Platform. Initial feedback from developer partners and beta users has been overwhelmingly positive,” Mr Tyrrell concluded.