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Don’t let your focus on the future stop after Las Vegas!

Sign up now for the Future Focus Bi-weekly Webinar Series

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2020 Speakers

Mary Gilbert-Wienclaw Sr. Manager of Corporate Accounting & Treasury, Duracell Co.

Mary has nearly 10 years of experience in corporate accounting and treasury ranging from cash and liquidity management to FX risk management. Prior to joining Duracell, she oversaw the balance sheet hedging program for CommScope.

Andy Gage VP FX Risk Management Solutions, Kyriba

As VP of FX Risk Management Solutions, Mr. Gage advises corporate clients, consulting firms and business partners on a wide range of foreign exchange risk management-related topics, FX management best practices and FX hedging. He has more than 20 years of experience in FX exposure management, business process re-engineering, lean manufacturing, ERP and complex system deployment.

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Why you Wouldn’t Hedge Your FX Exposures

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Program Layout

• One-hour session

• Q&A at the end

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Kyriba FX Exposure Management Workflow

• Pre-trade data collection, exposure aggregation and trade recommendations

• Facilitate trade execution with trading platform and capture trade details

• Post-trade confirmation, settlement, valuation and accounting processes

Inability to source accurate, timely exposures from ERP systems and people can impact earnings

Post Trade (Accounting and Compliance)Pre-Trade (Economics)

Trade Execution

Exposure Analysis

Decision Management

Hedge Accounting

Mark to Market and Valuation

Trade Management

Exposure Capture

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OverviewThe Duracell Company team quickly established a currency exposure management program after Berkshire Hathaway Inc. acquired Procter & Gamble's Duracell battery unit.

In this dynamic atmosphere, they established:

• Access to accurate, complete and timely data• Collaboration within the entire organization• An efficient process that provided greater visibility into FX risk

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In This Session

We will:

• Identify data points needed for effective FX exposure reporting

• Understand how FX impacts controllers and accounting professionals downstream

• Explore how Kyriba FX assisted in automating the internal processes to promote better responses regarding exposure management solutions

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The Duracell Environment

Following the Proctor & Gamble’s spinoff of Duracell, the company faced a challenge in being able to identify the company’s currency exposures.

• Company had no knowledge of an existing FX management / hedging program

• The treasury team lacked the insight and visibility into their exposures –or if its exposures impacted EPS or EBITDA

• Duracell needed to establish a currency risk management program from the ground up

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The Challenges

• Data was inconsistent and lacked consolidation across the enterprise

• No single, comprehensive tool to extract data from the existing ERP system

• Lacked visibility into balance sheet and income statement FX exposures

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The Solution

Duracell needed a solution that:

• Could seamlessly interact with a variety of data sources

• Identify and extract only the most relevant data from multiple sources

• Enhance the work of treasury, controllers and accounting teams in FX exposure management

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Why Kyriba FX?

Duracell selected Kyriba FX because of its:

• Reputation among treasury professionals and C-level executives

• Ability to extract and normalize data from a wide variety of sources

• Focus on data integrity and advanced analytics

• Expertise in creating and supporting end-to-end FX exposure management workflows

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Duracell Workflow

ExposureCapture

ExposureManagement

FXERP System

ERP System

ERP System

Exposure Management Actions

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Exposure Management ActionsMethods of organically mitigating exposures:

• Revisited sales contracts and currency implications

• Renegotiated customer payment terms (shortened terms)

• Managed receivables and payables to naturally hedge globally

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Learnings

Identifying and working through data points:

• Getting the correct transaction currency balance is the key to understanding proper exposure

• Normalize exposure data with internal reporting structure

• Collect as much data as possible to facilitate enhanced analytics

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Learnings

Understanding currency impacts:

• Efficient FX can improve the interdependencies between accounting and treasury teams• Identified system related issues affecting accounting• Resolved posting related data integrity issues that would have caused currency impact

• With better visibility, both departments improved its internal processes based on the Kyriba FX data analysis

• Collaboration has increased due to efficiencies and other departments benefited as well

• Overall, legwork was reduced thanks to improved analytics

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Don’t let your focus on the future stop after Las Vegas!

Sign up now for the Future Focus Bi-weekly Webinar Series