New Solution Delivers Foreign Exchange Exposure Data from Leading ERP Systems in Seconds

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--FiREapps, the leading provider of foreign exchange exposure management software, announced today that it has released new versions of its foreign exchange exposure management software that make it easier for treasurers who rely on Oracle E-Business, PeopleSoft Enterprise or JD Edwards EnterpriseOne to gain automated access to the transaction data they need to calculate their foreign exchange exposure. The new offerings enable corporate treasurers to create complete exposure data sets and calculate foreign exchange exposures quickly and easily. FiREapps for Oracle E-Business, FiREapps for PeopleSoft Enterprise and FiREapps for JD Edwards EnterpriseOne automate the process of aggregating business system data to derive actionable transaction currency information for foreign exchange exposure management in seconds, rather than days.

“Multinationals from around the world have shown us how difficult it is to get complete foreign exchange exposure data out of their ERP systems, and how inaccurate their exposure calculations can be from the data they do get,” said Wolfgang Koester, CEO of FiREapps. “Through FiREapps, we have created a solution for treasury departments that leverage the leading ERP systems to provide quick and simple access to the transaction data they need to quantify and manage foreign currency volatility. Our investment in this solution delivers a path to effective FX exposure management for tens of thousands of companies worldwide.”

Relying on manual processes, experienced treasurers find that they are unable to derive a complete and accurate transaction currency data from their ERP systems in a timely manner. The common use of spreadsheets to calculate foreign exchange exposures based on this data introduces errors and uncertainties into the process. As a result, most treasury departments are unable to understand the sources of their exposure, or adequately protect their company from foreign currency volatility. FiREapps enables corporate treasurers to efficiently access transaction currency data from ERP systems in a way that allows them to focus more of their energies on the root causes of foreign exchange exposures – by entity and at the transaction level.

“Before using FiREapps the process to compile an exposure data set from Oracle was entirely manual,” said Brent Callinicos, VP & Treasurer for Google, Inc. “FiREapps was quick and easy to install and has given us centralized and constant access to all foreign currency exposure data throughout our business units. We can now devote our time to strategically managing exposures.”

To help users of Oracle E-Business, PeopleSoft Enterprise and JD Edwards EnterpriseOne learn more about FiREapps solutions, the company is hosting a free Webinar on Wednesday, October 15, 2008 at 11:00 a.m. PT/2:00 p.m. ET. Participants will learn about the challenges that companies face managing transaction currency data within their ERP system, and how to overcome them with an automated solution. For more information, visit http://www.fireapps.com/News/webinars.asp.

About FiREapps

FiREapps, a subsidiary of Rim-Tec, Inc. is the leading provider of foreign exchange exposure management software. The company provides technologies and services that help corporations optimize foreign exchange processes. These solutions help customers mitigate risk while increasing profitability and operational efficiencies. FiREapps has offices in Scottsdale, Arizona, Boston, Massachusetts and Portland, Oregon.