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How Théa Pharma improved its hedging with automation

How Théa Pharma improved its hedging with automation

Théa Group was looking to improve the quality of its exposure data and the precision of its transactional cash flow hedging, while removing time-consuming manual processes. Discover how Kantox helped them to automate their FX workflow.

Théa Group is an independent pharmaceutical company specialising in the development and commercialisation of eye-care products. The company has been innovating in the pharmaceutical industry since 1995 and has achieved great international presence with operations in 70 countries, 20 subsidiaries in Europe and more than 600 partners around the world.

Despite this internationalisation, Théa Group manages FX risk centrally, as each subsidiary invoices customers in local currencies. For that reason, they were looking to improve the quality of its exposure data while removing time-consuming manual processes.

FX CHALLENGES

Théa Group needed a solution that could save the precision of its transactional cash flow hedging. The main challenge for them was to avoid over-hedging and lighten the heavy manual workload. All of this was straining the resources of the company’s small treasury team.

In addition, the lack of automation tools to collect data, made it difficult to perform hedge accounting in accordance with IFRS standards. That’s why they went looking for currency management software that could fit their needs.

THE SOLUTION

Théa Pharma found in Kantox the solution that could fix all their FX problems. They implemented an automated cash flow hedging program for firm commitments across all the main currencies. This allowed them to improve how they managed their hedging process.

With Kantox, the firm’s risk manager has full control over how their FX currencies are managed. And the Treasury team can stick to a carefully planned out strategy, following the manager’s specific set of business rules and parameters.

Additionally, Kantox Dynamic Hedging® solution connects directly to Théa Pharma’s chosen liquidity providers with the Cortex FX platform for effective trade execution.

THE BENEFITS

Now, the company is able to better manage their portfolio of currencies. they drastically reduced their exposure to FX risk after implementing the currency management automation solution.

Moreover, the Group was able to mitigate the negative impact of unfavourable forward points using delayed hedging with conditional FX orders. Thanks to Kantox, the company has improved their reporting. They have now access to a convenient analytics interface that helps them generate accurate reports of their hedging.

With Kantox, Treasury teams at Pharmaceutical companies like Thea Group are able to develop an effective FX management strategy. If you want to streamline your cash flow hedging processes, currency management automation could be the answer. Request a free strategy session with our currency management specialists to learn more.

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