“Every company has different workflows when it comes to hedging. By working with FiREapps, we were able to design a customized workflow to meet our specific needs.”
Newell Brands, Inc. is a multibillion-dollar consumer goods company whose brands are used by more than 1.25 billion consumers.
Newell recognized the need to create a modern FX management program. Limited by their inability to collect data from numerous disparate ERP systems and outdated time consuming, manual processes, the small treasury team sought technology to enable a complex automated risk management program.
SAP and 37 other ERP systems, Kyriba, FXall
‣ The FiREapps-designed workflow automatically pulled data from 38 legacy ERP systems and 25 different business units
‣ The new workflow reduced cumulative foreign currency transaction net losses from $88 million (2013-2015) to less than $2 million in 2016; trading fees were reduced by $1. 3 million / year
‣ Newell now has visibility to and manages 14 additional currency pairs
‣ The notional size of the balance sheet hedging program increased from $800 million in 2015 to $2 billion today
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