Ericsson, a world leader in communciations technology and services, was recently recognized for its improvements in FX management. After collaborating with FiREapps, Ericsson gained greater visibility into its currency exposure data, enabling the company to save significant time, resources and costs.
After adopting FiREapps cloud-based technology, Ericsson realized $2 million in annual savings while reducing FX-related risks by 30 percent.
END RESULT — Ericsson earned three prestigious treasury awards:
Newell Brands, Inc. is a multibillion-dollar consumer goods company whose brands are used by more than 1.25 billion consumers. Newell recognized the need to create a modern FX management program. Limited by their inability to collect data from numerous disparate ERP systems and outdated time consuming, manual processes, the small treasury team sought technology to enable a complex automated risk management program.
After collaborating with FiREapps, Newell reduced cumulative foreign currency transaction net losses from $88 million (2013-2015) to less than $2 million in 2016; trading fees were reduced by $1. 3 million / year. And the notional size of the balance sheet hedging program increased from $800 million in 2015 to $2 billion today.
END RESULT — Newell earned a prestigious treasury award: