Case Study: Hubbell Incorporated gains clear FX exposure visibility with FiREapps

Hubbell Incorporated - Customer Case Study

Hubbell Incorporated, a manufacturer of electrical and lighting systems, faced significant challenges managing its foreign exchange (FX) exposure. This was a result of rapid international growth through acquisitions, which created a complex landscape of multiple ERP systems and led to an average of $2 million in quarterly FX volatility on its P&L. The small treasury team lacked the resources and process to efficiently identify and analyze these global risks, prompting them to seek an external solution and partner with FiREapps.

FiREapps implemented its FiREapps for Balance Sheet solution as part of its OnRamp program. This provided a template-based system to aggregate data from Hubbell's diverse ERPs, delivering clear analytics and visibility into all currency exposures. Within six months, FiREapps enabled Hubbell to identify its exposures, understand the associated risks, and begin organically mitigating them. This gave the company a solid foundation for its FX program, allowing it to gather all data in one place, analyze it effectively, and take actionable steps to reduce FX volatility and protect earnings with predictability.

Hubbell Incorporated

Howard Wardlow

Director, Finance & Treasury