Polycom, Inc. CASE STUDYCASE STUDY Polycom, Inc., hedges foreign currency risk with derivative contracts to protect both margin (revenue and expense) and Other Income and Expense (FX gains and losses). One of Polycom’s key treasury mandates is to remove currency volatility in the P&L. Until recently, Polycom mined data manually to unravel the interaction of foreign currency gains and losses generated by remeasurement and the forward contracts that hedge their balance sheet. Reconcile-to-Zero © (RTZ) was not a new concept to long time client Polycom. Grace Wong, Assistant Treasurer, says, “Helen [Kane] taught us the RTZ concepts several years ago, and we use them to analyze FX variances and communicate how our hedge program is performing”. THE CHALLENGE Manual analysis of currency

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