“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.”
FLIR Systems, Inc. is the world’s largest commercial company specializing in the design and production of thermal imaging devices for defense, security and law enforcement. FLIR generates 48 percent of its revenue internationally
FLIR’s manual process was labor-intensive and treasury was unable to systematically identify and analyze global exposures. This left EPS and earnings susceptible to unpredictable FX gains/losses.
FLIR selected FiREapps to implement a robust, formalized program to manage FX exposure, currency pair volatility and risk. CoRE AnalysisTM helps benchmark the hedging program from a cost/risk perspective and analytics identify and analyze exposure with a view to reduce exposure organically with improved forecasting and cash management.
SAP and IFS
‣ Organically reduced balance sheet exposure by more than 50 percent in the first six months
‣ Analysis to potentially gain over $40k in quarterly interest income with a 70 percent risk reduction
‣ CoRE Analysis identified 36 currency pairs representing $97M in gross expenditure and $16 million in VAR
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