FiREapps Enterprise™

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FiREapps Enterprise™ a Dynamic Currency Solution
FiREapps Enterprise™
Some of the most demanding and sophisticated companies in the world rely on FiREapps Enterprise™ to support their mission critical Currency programs. Whether your goal is to streamline and automate your end to end Currency program like Tech Data, Dow Corning or Agilent Technologies or capture exposure data from a wide variety of ERP systems like Avnet, Inc. or Itron, Inc., FiREapps has a proven, scalable solution that will enable you to optimize your Currency program.

Automatically Aggregate Data from Multiple ERP Systems

FiREapps pioneered and perfected the arduous task of automatically aggregating currency data from multiple ERP systems and leveraging it to provide actionable and reliable intelligence. FiREapps provides out-of-the-box connectivity with leading ERP systems and industrial strength data management services so you can rest assured that you will be able to aggregate, analyze, and manage exposures across your entire enterprise without a huge IT project.

FiREapps Enterprise

The Data You Need at Your Finger Tips

Whether you are interested in examining actual exposures and balances based on data from your ERP system(s); modeling forecasted cash flows and exposures supplied by business unit finance resources; incorporating hedge data from your Treasury Management System; or using multiple Currency rate sets for what-if analysis, FiREapps Enterprise™ leverages the FiREapps FlexEngine™ and FiREapps’ data management services to aggregate and normalize your data. This means that you can simply pick and choose what you want to analyze based on the questions you need to answer and forget about manually parsing through different sets of data for each analysis.

However you need to model exposure: FiREapps can get you there…

The intuitive and flexible FiREapps analytic environment makes it easy for users to craft insightful
views of their exposure. Using FiREapps, you can calculate and analyze your currency exposure and
risk across a number of dimensions including:

Organizational:

Consolidated, Entity, Line of Business, Geography etc.

Exposure Source:

Account Group, Account, Transactional Flow, Revenue, Expense, Cash, A/R, A/P, Intercompany Trade and Loans etc.

Time:

Balance sheet exposures based actuals and/or forecasts, Multi-period currency flow forecast, Historical trend analysis (daily, weekly, monthly, quarterly, and annual), Forecast/Budget to Actual
quote_tallWe give Finance [across the world] access to the hedge recommendations and the underlying data in FiREapps. They either check a box to tell us that they are okay with the data, or, if they spot an incorrect accounting entry from their general ledger, they let us know so that we can make the necessary adjustments to our hedge recommendations.”Avnet

Multi-Currency Accounting Data Integrity Analytics & Controls

The foundation of an effective exposure management program is an accurate and complete exposure definition. This starts with accurate data and proper controls. To ensure accuracy, FiREapps Enterprise™ comes with our suite of data integrity analytics and controls for multi-currency accounting. These proprietary analytics are specifically designed to aid in uncovering posting and control issues, help identify the root causes of Currency impacts in ERP systems and institutionalize the best practices of multi-currency accounting to ensure ongoing accuracy.

exposure_30 FiREapps’ comprehensive exposure data extract captures all potential exposures from your ERP system, making sure that nothing is missed
dynamic_entities30 Dynamic query structure ensures that new entities & accounts are automatically identified & easily incorporated into exposure data
rules_filter30 Rules-based filtering and exception reporting ensures local interpretations of standard and disparate charts of accounts can be accommodated across one or more ERP systems
role_access30 Role-based access controls enables local finance resources to review, adjust, and approve exposure data directly in FiREapps to increase collaboration, controls and transparency
remaesurement_validation30 Re-measurement Environment Validation Analysis provides monitoring and control through reports and analysis of the specific accounting balances that are being included and excluded from ERP specific re-measurement processes and Currency exposure definition processes to help ensure alignment between accounting, local business units and treasury
periodOverPeriod30 Period-over-Period Multi-Currency Accounting Balance Variance Analysis provides quick and easy comparison of changes to accounting balances; and the ability to identify specific account balances with unexpectedly large period-over-period changes that could indicate improper account postings
tcLC30 Transaction Currency-Local Currency Integrity Analytics enable quick identification of potential posting issues within ERP general ledgers such as phantom exposures, legacy currencies, and un-reconciled transaction currency-local currency imbalances
intercompany30 Intercompany Transaction Integrity Analytics provide a suite of exception reports that identify potential problems within intercompany transaction postings such unreconciled differences in reporting, local and transaction currency balances and missing intercompany offsets
gainLoss30 Currency Gain/Loss Analytics provide quick insight into sources of Currency gain/loss to enable rapid triage of un-expected results
audit30 End-to-end audit reporting provides a comprehensive accounting of the sources and modifications of exposure data from data capture to execution

Flexible, Comprehensive Exposure & Currency Analytics

With FiREapps, you spend more time analyzing your currency flows and exposures without the burden of worrying about aggregating or validating your data. FiREapps’ unique “Bottoms-Up” approach to capturing transaction currency detail from accounting systems and forecasting processes provides FiREapps with the data necessary, and you, with the analytics that Treasury and Finance teams require to gain in-depth insight currency exposures and risks.

FiREapps-Enerprise-screenshots
consolidated40Summary-level exposure and risk views on a consolidated and entity level basis with drill down into account level or currency flow details provide rapid insight your companies total exposure and risk and the ability to quickly isolate and understand the underlying source

flexAnalysis40Exposure Flex Analysis leverages FiREapps’ FlexEngine™ enabling on the fly creation of pivotstyle and graphical analytical views for one or more data sets based on user definable dimensions

periodOverPeriod40Period-over-period views enable day over day, week over week, month over month, quarter over quarter and year over year comparisons of actual currency exposures and flows through the income statement and balance sheet

flow_analysis40Customizable multi-period flow and exposure forecast views enable you to model your forward looking exposure forecasts based on a variety of organizational and time-based dimensions

trend_analysis40Tabular and graphical trend analysis of actual and forecasted account balances, currency flows and exposures help you understand how exposures change over time as your business adapts to changing market conditions

gainLoss40Currency Gain/Loss & Exposure Variance Analysis enables you to identify Currency impacts and examine the underlying sources of gains/losses and variances. FiREapps Variance Analysis can help you quickly identify whether Currency impacts where a result of volume changes &/or Currency rate changes

hedge_perform40Hedge Performance Analysis enables you to quickly assess and monitor the effectiveness of your hedging program

volumeVrate40Volume and Rate Impact Analysis provides a detailed suite of analytical views that identify the impact of volume and Currency rate changes across a variety of organizational dimensions.

budget_actual40Budget to Actual Variance Analysis enables the comparison of budgets and plans against actual revenue and expense currency flows to highlight budget to actual variances and improve the ability to incorporate currency detail into budgeting and forecasting processes

We knew that even if we automated the treasury management, trade execution, and trade accounting – if we were starting with incomplete or inaccurate data, then the system wouldn’t be fully effective. So in order to ensure accurate and complete data first, we decided to implement FiREapps in parallel with the TMS.testimonial_dow

Optimize and Automate Exposure Management Currency Actions

FiREapps’ decision support framework is designed to optimize the cost and effectiveness of corporate foreign exchange exposure management programs. Key decision support capabilities include:

auto_calc30 Automatic calculation of internal and external currency actions such as spot currency conversions, internal and external hedges trade_allocation30 Trade allocation and netting can be optimized to generate fully netted corporate level external trades and internal back to back trades on a individual legal entity basis
consolidated30 Hedging recommendations can be executed from a variety of trading entities such as corporate, regional, or legal entity core_icon30 FiREapps Cost and Risk Efficiency (CoRE™) Analysis: Enables risk managers to identify the optimal trade off between risk reduction and hedging cost

Seamless Integration with Leading Treasury Workstations and Trade Execution Platforms

The FiREapps platform is ready-made to integrate with the leading Trading Platforms and Treasury Management systems. Whether you are interested in automating trade feeds to single bank platforms or multi-bank platforms such as FXall, 360T and Bloomberg, FiREapps extensible workflows can create and send pre-formatted trade files to facilitate your straight through process. FiREapps also has a library of battle-tested integration toolkits to send and receive exposure and trade information with treasury workstations from vendors such as SunGard, Wall Street Systems, IT2, SAP Treasury, Reval, Kyriba and Capella.

Resources for FiREapps Enterprise™