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Bitget Launches Second Year of Anti-Scam Month Campaign to Fight Growing Cyber Fraud
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Al Bawaba
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JAGGAER accelerates its Agentic AI vision with appointment of first Chief Digital & AI Officer
JAGGAER, a global leader in source-to-pay and supplier collaboration, is delighted to announce the appointment of Gopinath 'GP' Polavarapu to Chief Digital and AI Officer (CDAO). GP will now only guide but accelerate AI strategy delivering JAGGAER's objective to embed intelligence for a hyper-automated, conversational, and collaborative platform that enhances human decision-making and accelerates business the new role as CDAO, GP will contribute to JAGGAER's end-to-end AI roadmap, encompassing Agentic AI for Jaggaer One Platform and internal employee productivity while building AI capacity with talent acquisition, an AI Center of Excellence, and a hub for AI thought leadership. GP brings with him a wealth of experience in enterprise AI solutions, most recently as the Chief Solutions Officer at and will collaborate with the Chief Product Officer, Jon Lawrence, and Chief Strategic Officer, Pascal d'Arc, to lead the JAGGAER AI transformation a passion for technology and innovation, GP also enjoys mentoring emerging AI talent and has a deep commitment to driving transformative business change through the power of artificial intelligence.'I'm honored to join JAGGAER's exceptional team as Chief Digital and AI Officer,' said Gopinath Polavarapu, Chief Digital and AI Officer at JAGGAER. 'By embedding fine-tuned LLMs, AI Agents and Agentic workflows into the JAGGAER One platform, we will automate spend analysis, contract intelligence, and invoice processing, transforming data into real-time autonomous actions and process automation for spend management. I look forward to working with JAGGAER, our leadership team, and our customers to reinforce JAGGAER's position as the premier vertical AI spend management provider, delivering unmatched efficiency, compliance, and cost savings.' 'While JAGGAER has been leading with AI offerings in the procurement market for years, the addition of GP as our Chief Digital & AI Officer will foster even faster innovation through generational technological transformation. Each member of JAGGAER's leadership team was selected for their unique background and talent to contribute to customer success, and GP is no exception in this regard. The last five years will certainly not be the same as the next five years, and we welcome fresh perspectives to steward us through our next phase of growth with Agentic AI.' said Yancey Spruill, Interim JAGGAER CEO and Operating Managing Director at Vista Equity Partners.
Al Bawaba
4 days ago
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How to manage FX exposure around the world?
Companies that operate in several countries often have to convert into different currencies, which exposes them to currency risks, which if not addressed properly can become a significant problem. Foreign exchange markets are dynamic and they are sensitive to global developments such as geopolitics, wars, trade wars, and many more which makes it difficult to predict which currency will gain the upper hand. This is why companies need to have specific knowledge of these risks and strategies to mitigate Forex exposure risks effectively. Let's briefly review the main methods to manage FX exposure and analyze the best-known cases when companies effectively manage those risks. FX exposure types Forex is a popular market where trillions of dollars are traded daily, making it important to understand its dynamics. Both investors and traders should know how to protect against FX risks to reduce the chances of losses. There are several types of Forex exposure such as transaction, translation, and economics. Transaction risks happen when companies enter into foreign currency payables or receivables and become exposed to exchange rate risk and losses. Corporations hedge these risks using forward contracts, futures, and swaps which allow them to lock in rates or invoices in their home currency to transfer risk. Translation exposure also known as accounting exposure is when financial statements of foreign subsidiaries are converted into the parent company's reporting currency. This can potentially cause reported asset and liability values to change because of exchange rate fluctuations. While it does not create a cash flow risk, it still presents challenges for companies. The economic exposure also referred to as operating exposure simply reflects the impact of these rate changes on the firm's future cash flows and ultimately competitive position. This type of exposure is more difficult to calculate as it has a long-term effect on market value. To mitigate operating risks, companies should employ hedging strategies, including hedges and options. How to manage FX risks - best practices Managing FX risks is an important aspect of operating multinational businesses. Companies usually have a board-approved FX policy which includes a list of authorized instruments, hedge ratios, and reporting standards. This makes risk management very structured and effective. Corporate hedging often includes senior management oversight and periodic policy reviews, to ensure both strategic objectives and regulatory requirements are met. Corporations typically have dedicated risk management teams that execute hedges, and set counterparty limits. Business units provide transactional forecasts and operational insights. How to identify and measure the exposure To execute hedge and other FX risk management strategies, companies first need to identify and measure the exact exposure type and forecast impact. Real-time data, scenario modeling, and value-at-risk metrics help companies identify and quantify exact exposures across currencies. Effective measurement is concluded using unified dashboards that offer the ability to get all needed information and run what-if scenarios, analyzing currency movement's impact on projected cash flows. Hedging strategies After defining the types of risk and possible amounts and currencies involved it is time to mitigate those risks using various well-tested strategies. There are several methods available to ensure currency risks are minimized on the company's cash flow and financial statements. Natural hedges Natural hedging tries to marry foreign revenue with local costs. Basically, it sources inputs in the same currency as sales which reduces the need for financial instruments. This can be a very effective technique to mitigate some of the FX exposure risks. Forward and futures contracts Forward and futures contracts are powerful instruments to hedge against foreign exchange rate risks. These contracts allow participants to lock in future rates of exchange between involved currencies. This can be super important when dealing with an uncertain future where the forecast is difficult. Using these instruments, companies can ensure that their cash flow is stable even in adverse market movements. Having access to locked rates for predetermined data provides certainty on transaction costs. Swaps Forex swaps exchange principal and interest payments in different currencies. This is super useful to manage short-term and long-term funding and exposure which is crucial for international companies. Options and structured products Options are also contracts that grant the right but not the obligation to transact at predetermined rates. They are similar to futures contracts but without obligations. By locking the rates, options offer effective downside protection with upside participation. In other words, it limits losses if the asset falls but still profits if it rises. Best operational practices Some companies have a centralized treasury which allows them to reduce transaction costs, and improve hedging consistency by netting positions internally. The decentralized model, on the other hand, offers local autonomy and quicker decision-making. Many companies employ a hybrid structure to get the benefits from both models. Managing large capital is not easy and many transnational companies have integrated treasury management systems (TMS) to automate deal capture, confirmation, accounting, and generate real-time analysis. These systems can reduce operational risks and provide efficiency, but companies still need to check and monitor their automated systems to eliminate bugs and other errors. Another practical method is to diversify banking and non-bank counterparties to limit concentration risks. By establishing credit lines and netting agreements, companies ensure counterparty exposure remains within the threshold that was approved by management. Case studies - Success stories to learn from There are many cases where companies that operate in many different countries employed FX exposure risk management effectively and avoided losses. Apple's treasury hedges most of its projected foreign-currency cash flows. It uses a blend of forward contracts and options to stabilize earnings and reduce financial risks of FX exposure. Airbus typically manages long-term hedge portfolios with a maturity of several yours, which helps it cover net USD sales. It also employs natural hedges to smooth profitability from large commercial aircraft contracts. In 2022, Coca-Cola HBC responded to the strong US dollar by calibrating its derivative positions. It shifted hedge notions and maturity profiles to mitigate currency risks and preserve a stable cash flow. Starbucks Corp. Starbucks has 'price-to-be-fixed' contracts and Forex forwards to mitigate currency volatility costs in coffee bean purchases. This enables it to have stable expenses despite commodity price surges. Starbucks is an interesting case, as it directly employs these contracts to lock in future price rates and ensure profitability even if the prices surge for beans.
