“With FiREapps what we get is combined exposure data and analytics, quickly. The gain really is to shorten the process and improve quality.”
Ericsson is a world leader in communications technology – providing equipment, software and services that 40 percent of global mobile traffic runs through. It operates in more than 180 countries, and works with more than 500 currency pairs and countless regulatory environments.
Ericsson’s legacy program structure did not provide insight into exposure creation and operational insight, making it hard to be strategic. Ericsson had to deal with a complex currency environment as a telecom infrastructure provider with operations in nearly every country and monthly forecasts of FX exposures coming in from across the world.
FiREapps provided an open, cloud-based collaborative architecture with full access to all internal teams, providing visibility into current and historical data to show undetected revaluation and multi-currency accounting issues.
‣ 33 percent faster decision making cycle
‣ Covered more risk and drove an annual savings of $2.2 million in transaction costs
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