Learn How FiREapps Helps Organizations Manage Currency Risk
FiREapps has Been Helping Multinationals Navigate Currency Volatility For More than a Decade
FiREapps has collaborated with many of the world’s leading corporate innovators, helping them improve efficiencies, reduce costs and reduce currency impacts. Below is a small sampling of customer case studies documenting how FiREapps made a difference, helping organizations better manage FX risk and eliminate currency surprises.
"It [FiREapps] is absolutely vital. Our goal is to support the overall business and so getting that visibility, transparency and having the availability of the details is really critical to meeting the overall business needs."
"The efficiencies we gain from our current solution have enabled us to get more involved in the operational excellence aspect of improving the data that is fed into the system. Our program [FiREapps] makes sure that roles and responsibilities are clearly communicated, that everyone knows what is going to be managed and that they have the information and the tools they need to get the job done. And most importantly, it enables us to integrate newly acquired companies into the Avnet process quickly and efficiently."
"As a global company, currency can significantly impact our EPS. We now have the policies, processes, automation and intelligence we need to more effectively manage foreign exchange exposures. In this market, that’s not a nice-to-have. It’s a must have."
"With manual processes inside a complex SAP environment, we knew there were things that we didn’t know, and that made us uncomfortable. That discomfort drove our decision to transform the program."
"With FiREapps what we get is combined exposure data and analytics, quickly. The gain really is to shorten the process and improve quality."
FLIR SYSTEMS, INC.
“To be able to buy an insurance policy against exposure – which is how I view our FiREapps license – is phenomenal. When you consider how much extreme volatility could cost you in a single month, it’s a ridiculously small price to pay – and it has paid for itself many times over.”
“FiREapps allows us to gather the data all in one place… It’s easily decipherable, easily understandable and the reports tell us what we need to know to actually take action on our exposures. We didn’t have that before; we didn’t have that at all.”
“We needed FiREapps. [Their] system is able to pick up the [general ledger] balances of all the subsidiaries, normalize them and map them to our corporate chart of accounts so that we can clearly see our exposures globally.”
“We didn’t have confidence in the static Oracle reports. Besides the fact that they weren’t very functional and we couldn’t easily export them to Excel to run scenarios, they got outdated in a hurry. Identifying exposures was like trying to find a needle in a haystack, but we didn’t know what it looked like or if it was even there in the first place.”
TECH DATA CORPORATION
“We engaged FiREapps to assist in standardizing procedures and identifying all FX exposures on a local country basis. Once we aligned our processes and had visibility into our total FX exposure in a decentralized model, we were able to centralize FX management, net our exposures and capture the full benefits of automation.”
“The FiREapps tools are easy to use and critical to our analysis. They bring issues we might not otherwise detect to our attention quickly so we can address them and make adjustments.”