As any company that does business across borders knows, foreign currency always poses some degree of risk. Fortunately, NetSuite OneWorld makes it possible for companies to do business internationally while minimizing the inherent financial risks of foreign trade. If your company on Long Island is considering going global, here is a look at the risk that comes with foreign exchange rates and how NetSuite can help you mitigate it.
The risk of foreign exchange is that both your home currency and the currency in each of your international territories are subject to fluctuation. The more internal political strife there is in a country in which you are doing business, the more vulnerable the currency is to major swings. Each time the foreign exchange rate changes, the value of your business does as well. Fortunately, NetSuite OneWorld has integrated tools that not only include ERP software and a CRM system that can be tailored to your needs but that also let you monitor currency fluctuations closely, so you make swift decisions to protect your assets.