There are always two aspects to risk–the tangible and the intangible. In 2003, Honeywell implemented SunGard AvantGard’s global treasury workstation and FXall’s foreign currency trading/settlement Web application. The applications comprised Honeywell’s FX hedging solution. One problem: Honeywell’s FX trader had to manually take the e-mails and spreadsheets from the 200-plus units, data-mine them into one net trade requirement per currency pair and then execute the hedge. Given the volume of data, reworking mistakes became commonplace.

A team headed up by Santiago Gil, Honeywell’s director of corporate finance, and Joseph Nametko, the information technology manager of corporate financial systems, met to solve the problem and decided to keep the integration in-house. “We literally live and breathe this application,” says Nametko.

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