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With solutions such as FiREapps, the role of Treasury within the organization can be more advisory and strategic.

Laurie McCulley | Treasury Strategies, Inc.
Featured Case Study: Tech Data Corporation  - As a $25 billion-plus distributor of technology products, with operations serving customers in more than 100 countries around the world, Tech Data requires a robust, process-defined FX management program in order to effectively and efficiently manage currency risk. Before the company embarked on its global FX transformation initiative, its FX processes were decentralized, non-standardized, and included a significant number of manual processes.
Featured Case Study: Avnet, Inc.  - Avnet provides a vital link in the technology supply chain by connecting the world’s leading manufacturers with more than 100,000 customers globally. Since 1991, the company has completed 80 acquisitions around the world — a growth strategy that consistently yields high value, but at the same time creates a complex and everchanging operating and systems landscape, and increases exposure to volatility in foreign currencies as the percentage of income generated outside the U.S. continues to rise.
Featured Case Study: Nuance Communications Inc.  - With a growth strategy based on a combination or organic growth and acquisitions (37 have been completed since 2007), exposure to currency risk is a fact of life for Nuance. In response, Nuance’s CFO directed the Treasury team to establish a hedging program to mitigate the company’s currency exposures — a difficult task given a lack of visibility into accounting data across entities and currency pairs. “At the outset, we thought we could gain that understanding fairly easily, but we were wrong.” says Dennis Close, Treasury Director at Nuance.
Featured Case Study: Hubbell, Inc.  - In the past five years, Hubbell has grown largely through acquisitions, which has increased the company’s international sales from single digits to approximately 20 percent. This global growth has been accompanied by various new risks, including exposure to foreign exchange (FX), across manufacturing divisions and subsidiaries in the U.S., Canada, Puerto Rico, Italy, Brazil, Switzerland, China, Mexico, Australia, and the United Kingdom.
Featured Case Study: Red Hat, Inc.  - When Frank Pirozzi joined Red Hat as Assistant Treasurer, the goal of eliminating FX surprises was already in place. An effective methodology for achieving that goal, however, was not clearly articulated. The company-wide ERP system did what it was supposed to do very well, but it provided no insight into FX exposures without extensive manual work. “If we wanted to understand something like a Japanese yen/Australian dollar exposure, we had to dig down into our ERP system and find it first,” Frank says. “This involved hours of forensic investigation using a yellow pad and a pencil.”
Featured Case Study: Plantronics, Inc.  - When a combination of rapid international growth, currency volatility, and a lack of visibility into exposure data began to negatively impact the Other Income line on the P&L statement, the treasury team at Plantronics acted quickly to implement a new process for managing foreign exchange. A cross-functional group from treasury, accounting, tax, and IT worked together to correct multicurrency accounting and remeasurement issues and establish a systematic process for accurately identifying, understanding, and managing the company's true FX exposure and risk.
Featured Case Study: Agilent Technologies  - Agilent's Treasury has a long track record of tightly managing foreign currency risk by maximizing hedge efficiency. Despite past success, the team recognized a need for improvements within their FX exposure management program to enable Treasury to be a more strategic partner to the business units. Doing so would require 1) increasing operational efficiency by eliminating the need for significant manual data entry, 2) instituting a greater level of automation and flexible analytics, and 3) reducing total cost of ownership and IT costs, preferably with an ASP-driven solution. After searching the market and determining that a single-vendor, end-to-end solution does not exist, the team sought several "best of breed" solutions, each of which must interact at multiple points to mimic Treasury's past success. The team also wanted more than a "software provider"; they wanted a partner with deep FX expertise to help Agilent realize its vision for a fully automated, straight- through process.
Featured Case Study: FLIR Systems Inc.  - Under the leadership of a new treasurer with a strong FX background, FLIR’s approach to managing foreign exchange exposure and risk has undergone a dramatic transformation over the past several years. What used to be an informal and labor-intensive manual process is now a structured, automated FX management program that elevates the benefits of exposure elimination and hedging beyond treasury to the corporate level, both strategically and operationally.
Featured Case Study: ADC Telecommunications - ADC Telecommunications used FiREapps to achieve ERP Exposure Data Visibility to Cut Costs and Reduce FX Risks in Less than 30 Days
Industry: Web Technology - A new Treasurer with bold, strategic sight quickly realized that whatever the firm was doing to manage its foreign currency exposure, it wasn’t enough; no matter how many people he threw at the problem, Treasury still couldn’t get the needed data in a timely manner. He instigated an effort to automate all treasury processes including building an FX management solution using extracts and reports, but soon understood that such an FX system would be impossible to update and maintain. During a meeting with IT to justify an external versus internal solution, the head of IT, learning of FiREapps’ functionality, asked, “Why would we want to build this ourselves?” The FiREapps partnership soon began.