Published by Zeb BhamA prominent business analyst has written an open letter to Vodafone imploring the company not to 'fumble' opportunities in the coming year.Bernstein Research business analyst Robin Bienenstock has penned an open letter to the heads of Vodafone urging them to capitalise on business opportunities in the coming year.The letter comes after Vodafone issued first-half group revenue of £21.8 billion, with revenue in Europe up three per cent due to the effect of favourable exchange rates on orders and business payments.Ms Bienenstock alluded to this favourable forex environment when she wrote of the "the obvious cost savings that should make [Vodafone] outperform next year".However, she warned that without change and strong leadership, the company would miss the boat on new technology partnerships that will allow it to compete effectively.Shareholders are likely to have been happy with the role that favourable foreign exchange rates played in shaping the company's results as dividends increased 3.5 per cent to 2.66 per cent per share.For more information on international payments, visit our Smart FX site