9、CFO的果敢嘗試

9、CFO的果敢嘗試

國際上不同貨幣之間的exchange rate（匯率）每時每刻都在變化，對于multi-national coporation（跨國集團公司）來說，這經(jīng)常會產(chǎn)生很多財務(wù)上的問題。遍布全球的市場就決定了支付貨幣的多樣性，比如在開具cheque（支票）或letter of credit（信用證）的時候，是選擇export country（出口國）的貨幣，還是import country（進口國）貨幣或者是第三國貨幣都會影響到交易的最終實際價格。而貨幣間exchange rate的變化會影響到企業(yè)的實際revenue（盈利）數(shù)額。所以payment currency（支付）貨幣的指定也是international trade contract（國際貿(mào)易合同）中的必要因素，必須在合同中明確指出。即使這樣，針對支付貨幣的dispute（爭議）也時有發(fā)生。

Innovo作為一家multi-national corporation, branch company（分公司）和市場分布在世界各地。在業(yè)務(wù)進行中，也常常會碰到payment currency方式的選擇問題。隨著企業(yè)的發(fā)展壯大，業(yè)務(wù)范圍和客戶來源不斷擴展，這個問題也就越來越突出了。根據(jù)公司總部上個月的monthly report（月報），由于支付貨幣選擇不當，又趕上國際貨幣市場匯率突變，僅一個月就產(chǎn)生了二百多萬美元的直接實際損失。交易合同中貨幣的選擇是由財務(wù)部和銷售部共同決定的，為此這兩個部門需要承擔由此產(chǎn)生的責任?？偛恳驝FO Jerry立即尋找解決辦法，避免今后再出現(xiàn)類似問題，給公司造成不必要的損失。Jerry在咨詢了權(quán)威的capital management institutions（資金管理機構(gòu)）之后，同時在部分公司作了experiment（實驗），終于找到了一種可行的辦法。她又根據(jù)Innovo的實際情況，作出一套具體可操作方案。一切準備就緒以后，Jerry召集各分公司的Finance Directors進行telephone conference（電話會議），向他們介紹公司準備實行的這套新的貨幣支付方案。會前，Jerry將這次電話會議的主要議題發(fā)給了所有與會人員：

Find out the problems.

Consult authoritative and experienced organization for suggestions.

Make experiment within a small area.

Apply it to a large scope.

因為時差的緣故，組織全球各分公司在同一時間開會可絕不是件容易的事。既然Jerry做了這個決定，可見問題的importance（重要性）和urgency（緊迫性）。

電話會議選在美國時間早上九點進行。各分公司所在地區(qū)的時間各不相同，有的地區(qū)已是午夜時分或是凌晨時分。

OK. As you know, on foreign exchange. We've got problems. Two problems. The first is that, as a group, we have too much exposure to currency variation, and that can mean losses. Big losses. Second, money costs money. All your hedging or transferring money costs a lot in time and money.

And you know why we've got these problems? It's because as a group, we're not coordinated. There's no real group policy for foreign exchange.

Right. Things are going to change. First, there's going to be a new company. This is going to be called the group Invoicing Company and we'll call it the I.C. just for now, and the role of the I.C. is going to be to coordinate all foreign exchange transactions: for every part of the group.

Right. How's it going to work? Procedure. First, you always invoice customers in your own currency, such as dollar, yen, euro, whatever you use, always if possible. But, if you have to invoice in a foreign currency — and this is the second option — then invoice the new I.C. company. In your own currency. OK?

And then the last step is that the I.C. will then invoice the customer for you, in the foreign currency. So everything passes through the I.C.; got it?

I know some of you are probably wondering if this will work for Innovo. I am ready to answer any question from your side.

接下來，各個分公司的Finance Directors針對這個新方案提出了很多問題，也發(fā)表了各自的看法。有一個普遍的問題就是大家對這個新方案的adaptability（適用性）不確定。在這一點上，Jerry早有準備，他邀請了一位capital management institutions（資金管理機構(gòu)）的consultant詳細解答了大家的疑問。經(jīng)過近兩個小時的telephone conference，最后關(guān)于這個方案的所有問題都得到了答復。大家達成了一致意見：先在各分公司試行新方案一段時間，再根據(jù)具體執(zhí)行情況做相應(yīng)調(diào)整。同時，Jerry的助理把相關(guān)的材料和會議memorandum（備忘錄）通過e-mail發(fā)給各個Finance Directors。