KPMG Consulting and Decillion redefine the boundaries of forex trade

KPMG Consulting and the Decillion group have formed a joint e-business venture within the financial services market to launch

. The site enables organisations to purchase forex through the Internet at competitive prices as well as the ability to access up-to-date market prices and movements.

Decillionforex.com effectively allows companies to execute and risk-manage forex transactions instantly over the Internet from anywhere in the world. Through the site, a company has access to professional transaction services provided by experienced dealers in the foreign exchange market. The benefit of a Web site catering to the financial services market is that it allows users to combine transactions with a pool of other customers which means companies benefit from better execution prices.

According to Keith Fairhurst, managing partner of systems integration at KPMG Consulting: "Decillion recognised that the advent of advanced e-commerce enabling technologies would provide them with an opportunity to exploit a gap in the marketplace in which they operate. Traditionally the financial services market is heavily regulated and subject to conservative operating practices, typically the preserve of large banking or financial institutions. However with the advent of technology Decillion was able to level the playing field - as they could focus on improving the efficiency of transacting, thereby creating a high value-add service at low cost which empowers the corporate client."

"Decillionforex.com is backed up by a traditional call centre and all our proprietary treasury management system software is accessible free over the Internet, with no application or installation costs," says Andre Kilian, head of Decillion. "The benefit of the service is that companies can now determine the price at which they wish to trade or alternatively it can request that a specific transaction be executed at the best price available in the market. In addition, the service offers full Internet reporting capabilities that can be customised according to each company`s individual requirements. Development is in progress to expand this service to include cash management and import/export related activities like insurance, letters of credit and other financing requirement."

This joint venture encapsulates KPMG Consulting`s core e-commerce methodology, whereby a project is defined by frequent delivery, within 90 day cycles, thereby allowing a business-focused critical path to be followed, emphasising a demonstrable rapid return on investment.