Search
 
Alexander Hamilton Awards

Treasury Transformed Through Technology

Winner of the 2018 Silver Alexander Hamilton Award in Technology Excellence: Newell Brands.

In 2015, Newell Rubbermaid sold consumer goods under a long list of leading brand names such as Rubbermaid, Sharpie, Calphalon, Paper Mate, and Elmer’s. The following year, when the company merged with Jarden Corporation—owner of Yankee Candle, Oster, Rival, Marmot, Crock-Pot, and many others—it formed a consumer-goods powerhouse.

Headquartered in Hoboken, New Jersey, Newell Brands now sells nearly $15 billion of products around the world each year. Its global reach means it generates complex cash flows and substantial foreign exchange (FX) risk. Prior to the merger, both Newell and Jarden relied predominantly on outdated, manual treasury processes. Post-merger, the treasury teams found themselves grappling with even broader and more complex processes.

The company had a currency hedging program for cash flows, but it did not have a comprehensive balance sheet hedging program. “We did place some hedges, but they were one-off, for balance sheet items that were large enough and were brought to treasury’s attention,” explains Carmelina Myers, treasury manager with Newell Brands. “Big intercompany loans were usually hedged because we were part of that process, but currency risks around our cash, A/P [accounts payable], and A/R [accounts receivable] usually went under the radar because we didn’t have appropriate tools for gathering that data.”

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Meg Waters

Meg Waters

Meg Waters is the editor in chief of Treasury & Risk. She is the former editor in chief of BPM Magazine and the former managing editor of Business Finance.

More from this author

 

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2023 ALM Global, LLC. All Rights Reserved.