“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.”
Hubbell Incorporated is an international manufacturer of electrical and electronic products for a broad range of non-residential and residential construction, industrial and utility applications.
CHALLENGE
Hubbell was experiencing an average of $2 million of FX volatility in its P&L statement because of a highly volatile currency climate. With no FX process in place, it was nearly impossible to identify, analyze and mitigate the FX exposures impacting the bottom line.
SOLUTION
Hubbell deployed the FiREapps OnRamp program to create rules-based exposure definitions, execute data integrity checks and provide detailed analytics to better mitigate risk and gain predictability of FX impact on its P&L.
SYSTEMS ENVIRONMENT
SAP and numerous other ERP systems
BENEFITS
‣ Organically eliminated exposures from open FX transactions that affect balance sheet accounts
‣ Reduced FX gain/loss volatility to protect earnings and EPS
‣ CoRE Analysis gives a better understanding of the costs and benefits of managing exposure
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QUESTIONS OR COMMENTS
+1 866 928 FIRE (3473) X 1
+1 480 443 7333 X1
info@fireapps.com