Case Study: ON Semiconductor reduces FX and payment costs with GTreasury

ON Semiconductor reduces 20,000 invoices to 800 payments with GTreasury

ON Semiconductor, a global technology company with $3.5 billion in revenue, sought greater liquidity control over its overseas disbursements and a way to reduce its foreign exchange costs. To address this challenge, they partnered with GTreasury and implemented its Ripple Treasury Netting solution to streamline their complex payment processes.

GTreasury's solution automated the extraction of invoice data from ON Semiconductor's Oracle ERP system, enabling a netting process that consolidated approximately 20,000 invoices into around 800 payments twice a month. This automated workflow, which included uploading pre-negotiated FX rates and generating payment files, allowed the company to net payments in both local and invoiced currencies. The results were significant: GTreasury helped ON Semiconductor reduce its overall FX costs, gain precise control over its payment schedule and liquidity, and lower payment costs by utilizing low-value ACH transfers where possible.

ON Semiconductor