Treasurers are tasked with protecting the gain/loss line as well as foreign revenue, expenses and/or margins. So, it’s not unusual for Treasury departments to want to implement a foreign currency hedge program.
In the late 1990s and into the early 2000s, the spreadsheet was the treasury and accounting tool of choice. Computer programs were still relatively primitive, and the smart phone had not yet arrived. Business professionals leaned heavily on spreadsheets due to their flexibility, powerful set of available formulas and relative ease of use.