case study2

US Furniture Company Exporting $120 million annually to Canada

Problem

The furniture business is very competitive with tight margins. Currency movements wreaked havoc on the company sales and profits. It also leads to numerous price adjustments and pushback from customers.

Solution

Castle Currency Management began providing its currency advice via our Custom Currency Strategy Service. This high level of service is unique and in-depth, combining both our expert currency analysis with specific financial needs and goals of our clients. We provide very specific currency orders and directives to help meet or exceed target budgets.

Results

The client enjoyed great stability and improvements to both financial outcomes and it sales operation. Castle Currency Management first identified areas to improve currency transactions resulting in ongoing annual savings of $250,000. Our Custom Currency Strategies have added an average of $3,075,000 to the company profits over the past 6 years.

"Denial is common tactic..."
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Business Risks Companies Face
"What types of risks can currency movements cause to a business?"

Currency Movement Risks
"What different types of currency movements should I be concerned of?"

Hedging Strategies
"You may already have strategies to manage your risk, see why Castle Currency provides effective strategies which can add to your existing ones"

Conversions - Best Rate
"you can capture a significant amount of money by improving the rate you get for conversion – let us help"

Risk Analysis
"It is important that you are managing the proper risk amount. We can help ensure it is neither too much nor too little"

Sensitivity Analysis
"Do you know what effect a significant currency move would have on your bottom line? We will show you then help you do something about it"

Risk Audits
"Have a third-party review your internal operations, it removes potential conflict and provides objectivity"

Currency Risk Management Plan
"Could you benefit from a Currency Risk Management Plan?"

Centralized Foreign Exchange
"Do you have one division buying USD at the same time another is selling?"

Training
"Could your team benefit from more knowledge of currency risks and how to mitigate them. We would love to show them how"

Budgeting Currency to Margins
"Does it not makes sense to customize your currency risk management strategies to meet your margin expectations and limitations?" We strongly believe it does "

Fully Managed Services
"We watch the currency markets 24 hours a day – why not focus your time on your core business?"

Benchmarking
"How can you be sure you are effectively managing your risk?"

Reporting
"Do you know what your risk is at any given time? Shouldn't you?"

Team
"Hire professionals who are experts at managing currency risk. Be aware of the difference between one who takes orders and conducts trades compared to one who analyzes not only the market but your specific business.

Risk Analysis
What is the worst-case scenario for your company right now?

Risk Management
"Denial is a common tactic that substitutes deliberate ignorance for thoughtful planning."

Currency Risk Management Plan
Developing an effective Risk Management Plan is an important part of any project

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