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How the L'Occitane Group optimised their FX risk management with automation

How the L'Occitane Group optimised their FX risk management with automation

Discover how L'Occitane Group optimised their FX risk management to create a more efficient and secure process while freeing up its treasury team thanks to Kantox automation solutions.

The L'Occitane Group is a leading international manufacturer and retailer of sustainable beauty and wellness products. It has operations in 90 countries worldwide in 3,000 retail outlets, including over 1,300 of its own stores. The leading beauty manufacturer sought to remove manual processes from its FX risk management to create a more efficient and secure process while freeing up its treasury team to enhance hedging strategies.

FX CHALLENGES

Imagine the pressure of managing foreign exchange (FX) for a global company like L'Occitane. Every day, mountains of data flowed in, a demanding manual process that created significant operational risk. Keeping track of currency exposure across multiple countries felt like juggling fire to the Treasury team. They needed a way to automate these tasks and gain better control over their FX strategy.

THE  SOLUTIONS

That's where Currency Management Automation stepped in. L'Occitane partnered with Kantox to automate their FX management using Kantox's Dynamic Hedging®, an award-winning solution that allowed the beauty manufacturer to build a bridge between their existing financial system and their FX data.

Kantox solution used API connectivity to seamlessly integrate with L'Occitane's ERP system and automate FX management based on pre-defined rules tailored specifically for L'Occitane's financial goals.  

THE BENEFITS

The results were like a breath of fresh air. L'Occitane could now monitor their exposure across 15 currencies in real-time. Eliminating manual processes not only saved them time, but also boosted security and slashed their operational risk. The best part? The FX tasks that used to consume their days were now handled automatically, freeing up the treasury team to focus on more strategic financial initiatives.

L'Occitane's story is a testament to the power of FX risk management automation. By partnering with Kantox, they transformed their FX management from a cumbersome task into a streamlined, secure, and controlled process. And that's a happily ever after any global company can appreciate.

"This implementation demonstrates that automation of treasury processes offers far more than simply removing manual tasks from the treasurer’s to-do list. It supports strategic thinking and enables treasury to add greater value to the organisation." -Quentin Jarret, Front Office Treasurer the L’Occitane Group

Book a free strategy session today to talk with one of our currency management specialists and find the currency management strategy that fits your needs.

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