More and more Canadian manufacturers are turning to international markets to grow their business. Increasing their global supply chains and customer base requires daily foreign exchange management. In light of recent financial challenges compounded by the inherent risks of the international marketplace, EMC members can leverage partnerships and programs designed to manage foreign currency risk.
EMC has teamed up with Western Union Business Solutions (WUBS), a global leader in FX and a trusted international payments provider to address your unique business needs, including foreign exchange, global payment, and currency risk management.
What is a Currency Risk Assessment?
A comprehensive analysis of your current Foreign Exchange practices including:
- Identifying exposure and risks to your business;
- Formulating a currency risk management policy.
Western Union Business Solutions will create a tailored plan for your company to be approved by your senior management and your board of directors. This document will include:
- Selecting FX hedging instruments;
- Setting a hedging ratio; and
- Choosing hedging techniques
Once the plan is implemented WUBS will schedule a follow up to re-assess and adjust as necessary. Benefits to EMC Members:
- Improved efficiency and Processes;
- Improved Profitability;
- Education on inherent currency risk within your business.
Western Union Business Solutions is a global leader in foreign exchange (FX) and a trusted international payments provider with clients operating in markets around the world. Our dedicated team helps companies of all sizes operate across borders and currencies with confidence. Our diverse service portfolio includes an extensive suite of foreign exchange, global payment, and currency risk management services designed to solve today's complex payment requirements.