Antipodeans specialises in overseas volunteer work, gap years and educational travel for students and youths. Most suppliers prefer payment in USD and as the Aussie dollar began to weaken in 2015 Antipodeans found that currency risk became an increased challenge.
Rapidly growing company required the ability to forecast up to 24 months’ ahead.Solution
Online platforms and currency hedging to help manage the impact of market movements.Result
Effectively protecting profit margins from exchange rate movements.
See currency exposures ahead of time
Antipodeans works with Western Union Business Solutions to help improve its ability to identify foreign exposures, and leverage currency hedging to help protect profits.
The company now has a centralized view of all supplier quotes in their local currency up to 24 months in advance which can easily be configured by foreign currency, beneficiary and due dates.
Insights that help protect profits
Antipodeans has improved its ability to monitor where profits are at risk of currency fluctuation. It uses this knowledge to help protect itself against negative shifts in the market by hedging its upcoming USD expenses with a combination of Option products.
“Our average price would go up at least 20% if we weren’t able to manage FX this efficiently.” Aaron Lane, Commercial Director, Antipodeans