Source: Business Wire
Monday, February 16, 2009 10:14 AM IST (04:44 AM GMT)
Editors: General: Consumer interest, Economy; Business: Accounting & management consultancy services, Advertising, PR & marketing, Banking & financial services, Business services; Technology
Release no: 19241
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(BW)(CT-PELORUS-ADVISORS)Pelorus Advisors Launches Essential Currency Risk Management Service to Leading Indian Outsourcing Providers
Cost Effective Currency Hedging Service Enables Indian Outsourcing Providers to Demonstrate Greater Fiscal Stability to their Customers
Hartford, Connecticut, United States, Monday, February 16, 2009 -- (Business Wire India) --
In response to a growing demand by outsourcing customers for greater transparency into their providers' fiscal health and financial stability, Pelorus Advisors, a leader in specialized risk management services, has launched a currency risk management service for Indian outsourcing providers. Offered as a cost-effective managed service, Pelorus' currency hedging service is designed to complement the already strong financial controls of leading Indian outsourcing providers.
For many Indian providers competing in the global outsourcing marketplace, exposure to volatile foreign currency markets can be a significant, yet often overlooked, source of financial risk. In light of the weakened global markets, existing and prospective customers of Indian offshore services are focusing their financial due diligence efforts to identify weaknesses in their providers' overall fiscal health. In the face of dramatically increased volatility in the foreign exchange markets and the Indian Rupee at a fifteen year low to the U.S. Dollar, outsourcing customers and their advisors are making inquiries of their providers' currency hedging controls so they can better understand the currency risks that their critical service providers are taking on.
"This represents one of the most powerful ways for an Indian provider to demonstrate fiscal strength and stability to its customers, boost the profitability of its operations, maintain projected profit margins and eclipse its competitors," stated David Benoit, managing partner of Pelorus Advisors. "Our currency risk management service takes the guess work out of currency hedging so that our leading Indian clients can focus of providing world class service with Rupee certainty."
"We listened to the needs of the global outsourcing industry and responded with a service that leverages our deep understanding of the outsourcing market, our leading currency hedging expertise and our effective risk management approach, all for the benefit of Indian outsourcing providers," said Jeffrey Rathgeber, managing partner.
"We look forward to establishing long term partnerships with top-tier Indian clients to provide them with cost-effective currency hedging solutions. Our mission is to help leading Indian outsourcing providers turn currency risk into a viable source of value and competitive advantage," added Kenneth McGee, managing director of Pelorus Advisors
A key determinant of success in managing currency risk is the decision-making quality of a company's hedging operations. Often, foreign currency risk management amounts to ad-hoc tactics without a properly defined strategy. Hedging positions tend to be decided on a banker's advice, backed by little more than currency statistics and an incomplete loss avoidance rationale. Such ad-hoc hedging practices can have the effect of exposing a cross-border company to tremendous financial risks. Without clear objectives and a carefully engineered hedging program, many Indian outsourcing providers will be at a competitive disadvantage compared to multinational companies with sophisticated hedging programs.
Pelorus' cost-effective service is designed to help Indian outsourcing providers achieve enterprise foreign currency hedging functions without having to build and maintain costly internal capabilities. Based on clearly defined objectives, thorough process planning, transparent execution and effective controls, Pelorus' high-impact service provides a range of operational and strategic advantages leading to better profitability, improved competitive position and enhanced shareholder value. Pelorus' service is backed by a team of leading outsourcing professionals and financial analysts with strong backgrounds in foreign exchange, economics, analytics and quantitative finance.
About Pelorus Advisors
Pelorus Advisors is a leading risk advisory firm focused on delivering highly effective risk management solutions. For more information on Pelorus Advisors, visit us at www.pelorusadvisors.com
CONTACT DETAILS
CONTACTS :
Pelorus Advisors
David Benoit, 001 860 247-7700
dbenoit@pelorusadvisors.com
www.pelorusadvisors.com
KEYWORDS
CONSUMER, ECONOMY, CONSULTANCY SERVICES, MARKETING, BANKING, BUSINESS SERVICES, TECHNOLOGY
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