With 9 surprises in 9 quarters, affected by 8 different currencies, the quarterly report— an established source of industry data and trends— emphasizes the fact that unpredictability will continue to remain the norm. Although CFOs are steadily becoming even more currency aware, the markets are continually becoming more unpredictable.
"Wherever it arises, the next currency crisis will cost unprepared companies disproportionately more," the report states. "As the adage goes, the mark of insanity is expecting different results from the same actions; it is insanity to expect different results with the same risk management processes in an ever-riskier environment."
Of note – in response to the continued, surprise volatility made especially apparent over the last 9 quarters and most recently with Brexit, FiREapps released its Rapid Response Exposure Analytics solution in June. The technology and delivery were created specifically to help corporates navigate periods of rapidly changing currency conditions – delivering full, on-demand visibility into global currency exposures.
For more information on the Q1 2016 Currency Impact Report, visit: http://fireapps.com/learn/q1-2016-currency-report.html
For more information on the Rapid Response Exposure Analytics solution, visit: http://fireapps.com/learn/brexit-analytics.html
FiREapps is the leading provider of Corporate Currency Analytics and FX exposure management technologies. Established in 2005, FiREapps developed the first solution to automate foreign exchange exposure management for multinational companies. Through a combination of software solutions and expert analysis, FiREapps helps companies ensure they're accurately measuring and managing their FX exposures. Numerous Fortune 500 companies rely on FiREapps technology to help them reduce FX risk and increase efficiency every day.
FiREapps is headquartered in Scottsdale, Arizona, with offices in Portland, Oregon; London, England; and Frankfurt, Germany. For more information, visit www.fireapps.com.
CONTACT: Fitch Carrere, +1 480-443-7333 x164 email@example.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/multinationals-attributed-more-than-20bn-to-headwinds-from-currency-in-q1-despite-a-quarter-of-slowing-trends-300309994.html