Canadian pricing and analytics provider Fincad has announced the launch of its new hedge accounting software, Hedge Accounting Insight.
The project was developed after the vendor’s second annual Corporate Finance Survey found that existing platforms were perceived as too difficult or costly to use.
Hedge Accounting Insight aims to replace the use of spreadsheets and other highly manual processes, with the aim of reducing operational risk.
"There is an obvious lack of hedge effectiveness testing solutions that target medium to large corporations," says Daniel Scott, vice president of product management and marketing at Fincad. "In our talks with finance professionals, it became clear that most hedge effectiveness solutions available in the market are too expensive and quite complex to use, leaving treasurers, controllers and auditors with the option of either using highly manual internal spreadsheets, or outsourcing their hedge effectiveness testing to specialist consultants. Our new solution changes that."
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