Employs ABCM hedging tools to reduce risk of exposure
Formulates a consistent response to market fluctuations
Leverages automated analyses to determine procurement procedures
Serving a market with a healthy appetite for new cars, Automax offers the Israeli automotive market a variety of brand new, high-quality brands and vehicles at affordable prices and with favorable financing conditions. Licensed by the Israeli Ministry of Transport, Automax operates its business with an underlying belief that a new car should be within anyone’s reach. As a parallel importer, the company enables the supply of new vehicles to consumers at competitive prices, through a licensed importer.
“The environment in which the company operates presents us with numerous challenges”, says Ya’ara Alfi, CFO in Automax’s finance department. “We operate in a wide number of countries in a highly competitive business environment and in an industry with high sensitivity to costing issues – all of which is against the backdrop of the multiple currencies we handle on an ongoing basis.”
“Choosing a budget threshold, the date of execution of a protection transaction, and the period of time for hedging are straightforward with ABCM. It really simplifies our strategic and tactical responses”.
Through Okoora’s ACBM, Automax is able to able to formulate a consistent response to volatile currency markets. “The platform provides a complete picture of the market environment, the currency activity in each and every country, and automated analyses that help Automax in choosing the most correct procurement procedure”, Ya’ara says.
In order to deal with a dynamic business environment and increasing cost sensitivity, the company employs a broad hedging policy that includes the application of a variety of hedging tools and a customized strategic plan that helps the company reduce the effects of exchange rates on the planned budget. “Choosing a budget threshold, the date of execution of a protection transaction, and the period of time for hedging are straightforward with ABCM. It really simplifies our strategic and tactical responses”.
Customers praise ABCM
“Staying connected to the pulse of the currency markets with ABCM™ enables me to perform transactions according to real-time exchange rate opportunities that best suit me in achieving our business objectives.”
“The platform provides a complete picture of the market environment, the currency activity in each and every country, and automated analyses that help Automax in choosing the most correct procurement procedure.”
“ABCM™ is the only platform that addresses the entire currency lifecycle. Highly recommended for any business that manages more than one currency.”
“I can open a foreign bank account overseas – at any time of day or night – without ever having to leave my office.”
“Okoora has transformed dealing with currencies into a simple and positive experience.” to manage and mitigate currency risks in a professional and effective manner.”
“ABCM gives us a complete picture of the currency market environment, which helps us to manage and mitigate currency risks in a professional and effective manner.”
“When I consider the number of multi-currency payments we issue on an ongoing basis, there is simply no competition. ABCM stands out as a better alternative to banks and their hefty service charges.”
“Okoora’s ABCM handles all of our multi-currency payments as well as travel cash disbursement for employees. It saves us significant time and effort.”
“Okoora’s hedging tools are based on well-developed methodologies. They assist us in formulating our financing and payment transaction strategies and save us a lot of money.”
“ABCM changes the way we buy currency and track our global transactions. It’s simple, obvious, and convenient. Their security protocols give me the confidence that the money is safe.”
“ABCM™ provides me with a single address for managing our entire currency workflow. It’s making my life much easier.”