New software aimed at enabling travel companies to fully automate the management of their currency operations has been unveiled.
Dynamic Hedging is a tailor-made solution for travel firms that have to work with multiple currencies.
It has been created by foreign exchange management solutions firm Kantox which has previously worked with RIU Hotels, New Travelers and JT Touristik.
The software was developed to address the challenge posed by increasing competition online amid currency volatility.
Dynamic Hedging claims to deliver added value through the automation of currency management, enabling companies to dynamically shield themselves from risk across the entirety of their currency operations.
Kantox co-founder and chief operating officer, Antonio Rami, said: “Dynamic Hedging spares companies with high volumes of transactions from having to manually complete each and every one of those operations individually in order to hedge their FX risk. This translates into enhanced currency management and cost savings.
“For a travel firm operating on the global market, currency fluctuation makes daily planning more complicated. With Dynamic Hedging product, we are able to fully monitor the risk related to exchange rate fluctuations and to execute hedging operations automatically. This way, we can optimise cross-border transactions with minimum effort.”