Website enhanced and app updates released

An important aspect of most companies marketing strategy these days is via their website. At Hedgebook we spend lots of time developing our derivative hedging software and have to date been somewhat remiss in the development of our web presence. We have taken some initial steps to address this by adding some extra information about the company and the individuals behind the company. We have also included some more technical aspects regarding the operations of the company, hosting of the application and disaster recovery. Additionally, we now display a selection of fx rates, interest rate swap rates and metals prices on our home page. The rates are live and update every five seconds. The aim is to provide a quick view of the key rates Hedgebook users care about.

We have also released an update to the Hedgebook application. We are constantly working on changes and improvements to the valuation and reporting software to give users either access to new instruments and features, or making existing ones more intuitive and easier to use. The most material changes from this software update include exposing the cashflow map for amortising interest rate swaps and we have also streamlined the reporting functionality.

Feedback always welcome.

New European Hedgebook distributor

We are pleased to announce the appointment of Konzept1 as our distributor of HedgebookPro in Germany and Austria.

Konzept1 markets third party software and is headed by Jorg Leuker. Jorg has previously been a user of HedgebookPro and was so impressed with the system he wanted his company to be able to distribute the product.

Jorg explained that “with the increasing reporting and compliance requirements HedgebookPro, with its simple and intuitive interface, fulfils a need in the German market”.

We look forward to working with Jorg and Konzept1.

Hedgebook releases cloud-based derivative valuation tool to help auditors with IFRS 13

Today Hedgebook announced the launch of Hedgebook Audit, an online derivative valuation tool designed specifically for use by auditors.

Hedgebook CEO Richard Eaddy says “we’ve had a number of conversations with CA firms around the world and it became evident that most simply do not have access to the tools they need to calculate or validate fair values of even vanilla currency, interest rate or commodity derivatives.”

“The implementation of IFRS 13. and the rigour that this brings to the calculation of fair values, means that the requirement for truly independent valuations is greater than ever. Bank supplied valuations just don’t cut it anymore” says Eaddy.

IFRS 13 was implemented at the start of 2013 and defines fair value on the basis of an ‘exit price’ notion and uses a ‘fair value hierarchy’, which results in a market-based measurement.

“We’ve worked closely with key personnel within audit teams to understand what this means to them and what their requirements are. They recognise that their processes are going to need to change so we have developed Hedgebook Audit based on the insights that these interactions generated.”

Hedgebook Audit is a cloud-hosted application that gives audit teams access to accurate, independent fair values for a large range of currency, interest rate and commodity instruments, whether in the office or out in the field. A client’s portfolio is recorded in the system and can then be valued quickly either individually or as an entire portfolio.

Making business easier…

Well Hedgebook is officially underway. That feels good.

Isn’t it great when a good idea comes to fruition. Heaven knows most of them don’t…And as they say, its often the simple ideas that turn out to the the best ones. Hedgebook certainly fits that mold.

We’re about making it easier for organisations to manage their treasury function.

For those of you who, like me, aren’t an accountant, treasury is a catch-all term for the tasks that combine to “maximise a firm’s liquidity and mitigating its operational, financial and reputational risk”.

More specifically, we help organisations manage their foreign exchange contracts and interest rate swaps to ensure you are able to make sound, timely financial decisions. That sounds a like worthy goal.

For years we’ve all been relying on ‘that spreadsheet’ locked away on someone’s hard drive, never really sure whether it is up to date or whether we are looking at the right version. As Kiwi’s we tend to be a bit “she’ll be right” about things like this. Perhaps we’ve not really thought about it, or perhaps there just hasn’t been a decent alternative.

But as a country of exporters and importers, for whom navigating the stormy waters of currency fluctuations can mean life or death for some businesses it really is time we took this a bit more seriously.

Enter Hedgebook. Finally, an easier and more secure alternative to spreadsheets.

The truth is, we’ve actually been around for a while. At least the stuff under Hedgebook’s bonnet has been. The engine that powers Hedgebook has was developed by some very clever people a few years back and in various incarnations it has been put through its paces by numerous customers around the world.

So why has it taken so long to get Hedgebook to market? That’s where the “cloud” comes in. The cloud is having a profoundly positive impact on businesses in so many ways. In our case it is allowing us to bring “enterprise-level” software to the market at a price that makes it a viable option for all sizes of business. Now the rest of us can afford the powerful tools that large corporates have been using for years.

So here we are. Hedgebook. Treasury management in the cloud. In the small but important world of treasury management it’s a big deal. We’d like to think it’s a game changer.

That’s not to say we are finished. Far from it. Hedgebook is a constant work in progress and we already have big plans for improvement and the first people we will be taking guidance from is our users.

It is going to be an exciting ride.

Richard Penny is the Market Development Director for Hedgebook.