“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.”
Tech Data Corporation is one of the world’s largest distributors of technology products, services, and solutions, with worldwide operations serving customers in more than 100 countries. Organizations, such as HP, Apple and Microsoft, rely on Tech Data to bring many of their products to the market.
Prior to working with FiREapps, Tech Data’s FX management processes were decentralized and inconsistent. Hedging was done at the local country level and treasury was unable to net offsetting consolidated exposures.
As the largest volume user of SAP enterprises in the world Tech Data, with the help of FiREapps, was able to automate daily straight-through processing and integrate FiREapps with SAP (including SAP Treasury and FXall.) FiREapps open, cloud-based collaborative architecture provided centralized visibility and enabled the consolidated netting of FX exposures.
SAP (and SAP Treasury), FXall
‣ Reduced overall, annual FX costs by at least 50 percent
‣ Enabled more proactive backorder hedging, sales forecast hedging and currency pairs correlations
‣ Reduced time spent managing the hedging process by 60 percent
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