This record growth is attributed to the continued market leadership of the companyâs web-based treasury management system, FIRSTâ¢. Areas of the system with significant enhancements include the Interest Rate Module, commodity exposure management, and the workflow for requesting and managing hedges. Other popular new features include the management of internal debt programs, the ability to initiate payments in bank specific SWIFT messages and expanded support for FAS 157 and FAS 161.
âIn the current economic climate, it is a means of survival for corporations to effectively manage their riskâ says Bob Richardson, President & CEO. âOur continuous record growth demonstrates corporate confidence in FIRSTâ¢ to manage foreign exchange, commodity and interest rate exposures.â
In the last year, FXpress significantly expanded its client base within the United States as corporations recognized their exposure to the extremely volatile markets. These companies, including American Medical Systems, William Wrigley Jr. Company, William Scotsman Inc., and McCormick & Company, Inc, chose the FIRST Treasury Risk Management & Accounting Software as the top treasury management system in the market.