Streamlining Foreign Exchange Management Operations with Corporate Financial Portals

Hong Tuan Kiet Vo, Martin Glaum and Remigiusz Wojciechowski ()
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Hong Tuan Kiet Vo: University Karlsruhe (TH)
Martin Glaum: Justus-Liebig-University of Giessen
Remigiusz Wojciechowski: Bayer AG

Chapter 6 in Handbook on Information Technology in Finance, 2008, pp 123-139 from Springer

Abstract: Abstract Global competition and decreasing profit margins force companies to reduce their operational costs. This puts pressure on all business units and operations, including financial management. One approach to increase operational efficiency is the automation of existing processes by eliminating unnecessary manual interventions. Alternatively, one can design and implement new, improved processes. This is a challenging task that gets even more complex if the financial management has to deal with the heterogeneous environments of a multinational corporation. In this sense, the deployment of information systems that help to reduce the complexity of integration, communication, coordination, and collaboration challenges is required. Thus, financial management is in search for the equivalent of the global information system postulated by Chou (1999).

Keywords: Cash Flow; Foreign Exchange; Financial Management; Legal Entity; Exchange Rate Change (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1007/978-3-540-49487-4_6

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