Corpay Cross-Border Launches Risk Visualizer, Transforming FX Risk Management
01 November 2023 - 1:30PM
Business Wire
A game changer in visualizing FX risk exposure
through automated assessments, Risk Visualizer can help enhance
operational efficiencies and facilitate informed hedging
decisions
Corpay1, a FLEETCOR® (NYSE: FLT) brand and global leader in
business payments, is excited to announce that Corpay’s
Cross-Border business has launched Risk Visualizer, a
revolutionary solution designed to transform foreign exchange risk
management, enabling business and financial managers to monitor
currency exposure – and it can help them make well-informed hedging
decisions.
In an era of growing international business activity, the
management of foreign exchange risk remains a formidable challenge
for organizations. Many experience complex issues stemming from
decentralized invoice settlements, unclear cashflow trends and a
lack of data-driven payment reconciliation, leading to a disconnect
between payment processes and currency risk analysis.
“We’ve spoken with many CFOs and one thing is clear - currency
risk management challenges are an extremely common pain point for
them,” says Corinne MacMillan, Chief Product Officer, Corpay’s
Cross-Border Solutions. “Many managers grapple with the manual
maintenance of Excel or PDF reports for transaction data. This lack
of real-time information can significantly impact hedging decisions
and, consequently, profitability. Risk Visualizer was developed to
automate and streamline this burdensome process, potentially saving
organizations both time and money.”
The streamlined interface of Risk Visualizer combines
customizable input parameters, integrated foreign exchange rates
and personalized hedge thresholds. Based on the user’s entry of
cashflow data per session, algorithms will generate an in-depth
analysis of potential FX risks and list of commonly used risk
management instruments. This provides organizations with the
flexibility to apply hedges or implement the risk management
solutions that they choose by executing directly from the Risk
Visualizer dashboard.
Risk Visualizer is already making waves among its beta clients,
primarily small and medium-sized enterprises across North America
and Australia. These early adopters have recognized the immense
value of the solution in helping them overcome growing pains and
rely less on excel spreadsheets in their currency risk management
strategies.
Key potential-benefits of Risk Visualizer noted by this group
include:
- Simplicity: Simplify and optimize cashflow operations
with Risk Visualizer’s user-friendly interface.
- Tailored input: Customize cashflow inputs flexibly,
based on the user’s unique business requirements.
- Flexibility: Apply system-generated spot exchange rates
or set custom budget rates for risk exposure analysis.
- Real time information: Get personalized and updated FX
risk exposure summaries in real time.
- Personalized strategy: Take control of your risk
management strategy with personalized hedge benchmarks.
- Effortless risk mitigation: Proactively view and book
risk mitigation strategies in line with selected time horizons,
directly from the platform.
“Our vision is to make currency risk management more accessible
and efficient for businesses of all sizes. With Risk Visualizer,
companies can obtain real-time analysis and make well-informed
hedging decisions in one platform,” said Mark Frey, President,
Corpay’s Cross-Border Solutions. “Looking ahead, we will continue
to focus on innovating and advancing our cross-border payments and
currency risk management solutions, in an effort to benefit our
customers’ operational efficiency as well as their bottom
line.”
For more information about Risk Visualizer and the benefits it
can provide, please visit
https://cross-border.corpay.com/risk-visualizer/ .
About Corpay
Corpay is a global leader in business payments, helping
companies of all sizes better track, manage and pay their expenses.
Corpay provides customers with a comprehensive suite of online
payment solutions including Bill Payment, AP Automation,
Cross-Border Payments, Currency Risk Management, and Commercial
Card Programs. Corpay is part of the FLEETCOR (NYSE: FLT) portfolio
of brands. To learn more, visit www.corpay.com.
1 “Corpay” (a Fleetcor (NYSE: FLT) brand)
in this document primarily refers to the Cross-Border Division of
Corpay https://www.corpay.com/cross-border; a full listing of the
companies that are part of the Corpay brand is available here:
https://www.corpay.com/compliance.
* Subject to credit and compliance
approval from the relevant Corpay company.
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version on businesswire.com: https://www.businesswire.com/news/home/20231101627915/en/
Media Contact:
Keera Hart Senior Account Director (905) 580-1257
Keera.Hart@kaiserpartners.com
Corpay Contact:
Brad Loder VP, Cross-Border Marketing (647) 627-6635
brad.loder@corpay.com
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