Book TPO Trail
Setting up a Treasury desk in a corporate has always been challenging, primarily due to the following three aspects:
- Cost factor: the Cost of setting up a good treasury desk would be around Rs. 30-35 lacs annually. The major expense goes on getting a live information system like Bloomberg or Reuters and hiring a good treasury resource which will always come at a premium over other finance professionals
- Continuity factor: The next challenge is from the continuity point of view which a medium size or a big corporate faces. With ever increasing demand for treasury professionals, it becomes difficult for any Corporate HR to retain a person. Once a treasury professional moves, finding the right replacement takes time, affecting the daily operations.
- The third and final problem for a SME or a mid size corporate is that even if you set up a desk, negotiating rates and covering transactions does not take more than an hour on a normal working day. What work can you get from the treasury dealer for rest of the day? How can you best optimize him. So the question what comes to mind of an SME or Mid size management, is it worth it? Can't we outsource it to some professional?
In order to find a solution to address the above challenges, Myforexeye came into existence with their unique product called Transaction Process Outsourcing (TPO). TPO is an efficient and cost-effective way to address your front office treasury needs and Myforexeye has the solutions for delivering the rewarding results day-in and day-out. The volatility in the forex market has been increasing steadily from sub 5% in 2000 to over 10% in 2013-14 thereby resulting in sharp rise in USDINR spot prices, ranging from 15 paisa to 60 paisa on a normal day. In this back drop Mid-Size Corporates, Emerging Corporates, SME's and individual clients could outsource their forex transaction processing (with banks) to a professional team like Myforexeye. The Corporates can focus on their regular business transactions and leave the complex forex transactions to a group of experienced professionals like Myforexeye.
At Myforexeye, clients can share their day to day transactions with its team through a secured network to book Cash, Tom, Spot and Forward contracts with their banks. The client needs to provide us some initial inputs and the professional team of dealers at Myforexeye will ensure that our clients are charged the agreed bank margins for their forex transactions.
Our State-of-the art dealing room is equipped with Bloomberg and Thomson Reuters Eikon terminals to handle all simple as well as the most complex foreign exchange transactions. The infrastructure facilities are comparable to the dealing rooms of most banks in India. All client interactions and market making activities are done through recorded phone lines or emails to ensure data retrieval in case our clients need to access them in future. Our experienced dealers will ensure clients get the best of both the worlds.