Companies struggling to come to grips with the impact of the Greek debt crisis, an unstable euro and an increasingly volatile global currency market have a new set of automated tools and services available to help executives provide better financial stewardship to protect earnings and risk managers optimize their risk mitigation decisions. The newly-announced FiREapps EU-RX solution, one component in a portfolio of service and software offerings from FiREapps, helps companies assess and understand the potential FX impact to which they would be exposed if the Euro currency began to break up. FiREapps says that the solution provides deep insight to the risks companies face, by currency and by country, specifically tailored to the risks associated with euro zone countries today. Combining automated, software-driven data aggregation and analytical tools with custom service offerings, the solution provides data management, exposure calculation and analysis to address the ‘worst case’ scenario – a dissolution of the euro into multiple component currencies as countries withdraw from the euro zone.
“CEOs and CFOs of multinational companies today cannot keep pace with the events in global currency markets, and face foreign currency risks to which they don’t have complete visibility in a timely fashion,” said FiREapps CEO Wolfgang Koester. “In response to the current euro crisis, and the ripple effect of volatility in all currencies, we’re providing our clients a solution that quickly provides executives with the ability to understand their true exposure and total risk, while giving risk managers the tools they need to make better decisions, faster.”
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