Sophisticated risk management with just a few clicks
Häfele has come a long way since its foundation in the 1920s. They are now one of the leading corporate groups for furniture fittings and architectural hardware worldwide. With more than 7,200 employees at six production sites, 37 subsidiaries and 16 distribution offices, Häfele supplies 160,000 customers in more than 150 countries and had a turnover of 1.27 billion euros in 2015.
Head of Treasury, Häfele GmbH & Co KG
Häfele has been using tm5 for group-wide reconciliation, payments, cash management, contract management and liquidity forecasting functions since 2011. The next step was the introduction of tm5 risk management modules with the aim of revealing FX risk and simulating different scenarios. In particular, they wanted to incorporate the calculation of value at risk as a performance indicator directly in tm5.
The Solution: Integrated platform for complex calculations
Fully integrating all treasury processes in one platform has the benefit of making all relevant data available within one system. Häfele benefited from their long-term experience with tm5, resulting in very little required training. Group-wide liquidity forecasting data in the system was accessible and could be reviewed and completed for risk management purposes. FX deals were entered to complement the available data. The tm5 risk management module offers simulation of interest and currency risks based on deals recorded in tm5, as well as planning data. The integrated Market Data Service shows current rates and yields curve data enabling TTRiskwatch to calculate risk directly in tm5.
Once the factors of relevance to Häfele’s value at risk approach had been analyzed and defined, it became very easy to calculate the performance indicator in tm5 and to identify risks. All data is available in real time and on one single platform, so it can also be used for reporting. tm5 makes efficient risk management really simple: upgrade your license and off you go!
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