One of the biggest advantages of utilizing Hedge Trackers’ integrated hedge program consulting and software is the ability to efficiently address turnover and temporary absences in the Treasury or Accounting department.
That can mean one of two things.
In the first case, imagine if the primary user of CapellaFX – our SaaS software solution for managing foreign currency derivatives and compliance to FAS 133/ASC 815/IFRS 9 – went out on maternity leave. In such a situation, the finance department needs bandwidth (and specialized knowledge) for a 3-5 month period.
The hard way to deal with this is hiring a temp, or adding training and ongoing responsibility to an existing employee. This can often be quite difficult for management to execute due to the numerous requirements associated with existing hedge accounting practices.
The easy way? Calling Hedge Trackers and seamlessly outsourcing derivative accounting duties for any set period of time. The majority of our employees are derivative accounting experts who use the same software to provide outsourced journal entries to a portion of our client base. As a SaaS platform, CapellaFX works within a secure, private cloud environment. Therefore, with your permission, our team can view and process your accounting entries as needed.
When the employee is back on the job, she simply picks up where she left off; non-value-added transition time is essentially zero.
Hedge Trackers can also provide value when there is turnover in Treasury leadership, or when key figures responsible for hedging leave the company or the department. Our consultants are adept at bringing new personnel up to speed on the intricacies of hedging – exposure gathering, accounting ramifications, derivative accounting, ASC 815 compliance and more. This significantly reduces the learning curve for new personnel, and helps ensure that the department – and the hedge program – continue without a dip in credibility and/or capability.
So when life happens, don’t panic. Whether you need someone to take the reins for a few months or you need to get new personnel trained quickly, Hedge Trackers is here to help. Contact us today to learn what we can do for you.