Análisis de la gestión de tesorería y Herramienta de monitoreo de exposición al riesgo cambiario en Independence Drilling S.A., para el año 2025

Abstract

Problem: Exchange rate risk management is often challenging for companies that. conduct transactions in foreign currencies. Independence Drilling S.A. invoices a large portion of its services in U.S. dollars (USD) to clients such as ECOPETROL, Frontera Energy Colombia Corp., And Independence Energy Ecuador S.A.S., which creates vulnerability to exchange rate risk during the period between the invoice issuance date and the payment date. Additionally, the company uses factoring as a mechanism for immediate liquidity, without having a monitoring tool that integrates both aspects. Objective: To analyze the company's exposure to exchange rate risk (USD/COP) and propose a monitoring tool that consolidates this information to support decision-making in the Treasury Department. Method: The 2025 invoicing database (1,777 records, including 168 transactions in USD) was cleaned and analyzed. An Excel model was developed using dynamic formulas, and seven indicators were defined: exchange rate risk per invoice, monthly gains and losses due to exchange rate fluctuations (TRM), factoring cost, total financial cost, an Exchange Rate Exposure Index (EREI), customer exposure, and a scenario simulator. Results: The analysis identified an accumulated loss of COP 1,391,624,949 due to exchange rate volatility (TRM) and a factoring cost of COP 10,675,635,955 in 2025, concentrated in three customers, all classified as high risk according to the Exchange Rate Exposure Index. Discussion: The dashboard developed makes it possible to anticipate the impact of exchange rate fluctuations before invoicing, or even on accounts receivable already generated, identify customer risk, and consolidate the total financial cost of each transaction into a single indicator, thereby fulfilling the objectives established for the professional internship. Keywords: exchange rate risk, TRM, factoring, treasury, financial dashboard.