The treasury department at Dover Corp., a diversifiedmanufacturing company, has spent the past couple of yearscentralizing foreign exchange (FX) trading and rationalizing itsnumber of bank accounts and its use of banking services. Theresults are noteworthy.

“Between the things that we've done on the bank account side andon the currency side, we've saved a significant amount of money,”said Brian Moore, treasurer and vice president at Dover. “And we'vedone that without sacrificing internal controls or increasing risk.In fact, we've instituted some foreign currency hedging programsthat have helped reduce Dover's risk profile.”

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Susan Kelly

Susan Kelly is a business journalist who has written for Treasury & Risk, FierceCFO, Global Finance, Financial Week, Bridge News and The Bond Buyer.