25 July 2022

Hedgebook User Survey: more FX Hedging, more frequently

Five key learnings from this year's Hedgebook Annual User Survey. There are some interesting trends as greater volatility is driving more FX Hedging activity and this is confirmed across our user base.

The results of our Annual Hedgebook User Survey are in and there are some interesting trends. While we all believe greater volatility is driving more FX Hedging activity it is great to have it confirmed across our user base. Having taken some time to review the results here are five key things we’ve learnt.

1. Use of Hedgebook has increased as market volatility increases

The number of users accessing Hedgebook multiple times a month or several times a week has more than doubled to around 70%. While the minimum usage is now once a quarter with no-one reporting using Hedgebook on a purely annual basis.

Greater global market volatility is definitely driving the upswing but the introduction of the FX Exposure Tool, giving greater visibility for our clients of their hedges and exposures enabling them to make better decisions, faster – has also had a role to play.

2. Compliance, accuracy and productivity drive Hedgebook uptake

Consistently year end compliance, reducing human error and improving operational efficiency through automation and streamlining are why customers use Hedgebook.

How they ranked (compared to 2021):

1. Year end compliance (1)
2. Reduce human error (2)
3. Automate reporting (5)
4. Independent derivative valuations (4=)
5. Improve operational efficiency (4=)

3. Big shift in removing stress on reporting

We have worked hard on making end of month and end of year compliance and reporting as easy as possible. It was really pleasing to see a big jump – from 86% of users in 2021 to over 97% in 2022 – saying they ‘agreed’ or ‘strongly agreed’ with the statement:

“Hedgebook removes the stress from month end and year end compliance reporting”

There was also a positive lift in those who believed Hedgebook was giving them more confidence in the data to drive better decision making.

4. More FX hedging: increase in value

When asked how disappointed they would be if Hedgebook were to leave their lives there was a 20% lift in those who would be ‘very’ or ‘extremely’ disappointed to see it go. This was backed by a 100% increase in those who expressed a highly positive interest in trying new modules – putting even more pressure on our product development team.

5. Consistently delivers on reliability, value and efficiency

Finally – it was really pleasing to see users rating Hedgebook highly on:

  • Reliability
  • Effectiveness
  • Value
  • Support
  • Ease of Use

As these are all key things we are focused on continuously improving it is great to see them continuously rated as the top five benefits our users value as well.

But it’s never all sunshine and roses

Like any user survey we are always going to pick on the positive responses in putting this blog together. But we thought it was worth mentioning we pay equal (if not more) attention to the areas our users say we can improve on – particularly their ideas for product or service improvements.

Some of the suggested ‘improvements’ already exist in the product or are ‘coming soon’ – so look out for more offers of training and how-to-resources. While the user survey is a ‘one off’ we are always open to feedback or questions – particularly if you’re yet to give Hedgebook a try.
Finally, a very big thank you to everyone who responded to the 2022 survey – we quite literally can’t do what we do without you.

If you’re not a Hedgebook user yet check out how Hedgebook for corporates, auditors, advisors, banks or brokers.

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