Case Study: Tech Data Corporation cuts FX costs by 50% with FiREapps

Tech Data Corporation - Customer Case Study

Tech Data Corporation, a Fortune 500 wholesale distributor of technology products, faced significant challenges due to its decentralized and manual foreign exchange (FX) management processes. With over 200 hours spent weekly on manual tasks and annual FX costs reaching €3 million, the company lacked centralized visibility and the ability to net offsetting exposures. To address this, Tech Data engaged vendor FiREapps and implemented its FiREapps for Balance Sheet™ solution.

The solution involved standardizing global FX processes, centralizing management, and establishing an in-house bank integrated with SAP Treasury and FXall. FiREapps provided the analytics and automated trade netting platform. As a result, Tech Data reduced its annual FX transaction costs by 50%, saving €1.5 million, and cut the time spent on FX by 65%, from 200 to 70 hours per week, achieving significant efficiency gains and risk reduction.

Tech Data Corporation

Chuck Dannewitz

CFO