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.