Enabling Foreign Exchange Management through GIS

New derivative products and new statistical techniques including big data analysis have brought about a lot of advancements in foreign exchange management. Companies are also disclosing more information on foreign exchange exposures including economic exposure and causes and impact of changes in these exposures on their profitability and asset base. The next step, as advocated in this study, may be to combine spatial visualisation techniques developed with the help of GIS to map out the different types of foreign exchange exposures territory-wise and, thereby, enhance understanding of the strategies required to manage these exposures. This study looks at the previous literature on applications of GIS towards increasing efficiencies in business processes including market share enhancement and optimisation of branch location and conceptualises their use in the field of foreign exchange management similar to their use in the financial derivatives market advocated by earlier researchers.