“FiREapps … is a powerful platform for organizations that have struggled with manually pulling data from their ERP systems. The ability to automatically extract data and aggregate information in one place is very useful and helps us understand our non-functional exposures so we can mitigate risk. You can’t do that as easily with a custom in-house solution.”
Jabil, Inc. provides electronic design production and product management services to companies across a wide variety of industries. It operates in two segments: electronics manufacturing services and diversified manufacturing services.
Even with a single instance of SAP, the independent operation of Jabil manufacturing facilities made it difficult to accurately identify and effectively mitigate the underlying sources of FX exposure at the enterprise level. The spreadsheets submitted by site controllers often contained data manually pulled from SAP, which hindered the efficiency and effectiveness of local site management and the corporate hedging program.
FiREapps cloud-based solution allowed Jabil to leverage their existing investment in SAP and FXall, and enabled controlled and auditable collaboration between treasury and site controllers. The new, systematic process carries through from exposure data gathering to journal entries and formal disclosures in the financial statement.
‣ Reduced time to FX exposure visibility from
a full day to less than 10 minutes
‣ Increased the frequency of exposure analysis from monthly to weekly
‣ Confidence in accurate and consistent exposure data provides more control over balance sheet volatility
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