Case Study: Timely beats its FX budget rate with Bound

How Timely outperfomed their budget rate

Timely, a Norwegian SaaS company providing AI-powered time tracking, was facing challenges with currency volatility due to its revenue being in USD and operating costs in NOK. This created unpredictability in financial reporting, a lack of structured FX risk management, and put a strain on their limited internal resources. They turned to Bound to protect their budgeted rates and reduce their exposure to adverse currency moves.

Bound implemented a ranging hedging strategy for Timely, which involved setting a stop rate to protect against downside and a limit rate to lock in gains. The market moved favorably, hitting their limit rate and allowing them to lock in a rate of 11.10 for the year. As a result, Timely beat their budget rate by 5.4%, avoided posting FX losses, achieved greater budget stability, and saved significant time for their finance team using Bound's platform.

Timely