Gerflor

Gerflor Optimizes FX Pricing Transparency Across Global Banking Relationships

Gerflor, a global manufacturer headquartered in France, partnered with Redbridge to conduct a comprehensive review of its foreign exchange transaction costs across three banking partners. The engagement focused on identifying hidden FX margins, benchmarking pricing conditions across instruments and maturities, and improving transparency in trade execution. Covering 13 currencies and a full year of transaction activity, the project resulted in a 40% reduction in FX-related costs, formalized pricing agreements with participating banks, and the implementation of a long-term monitoring framework designed to sustain savings and pricing discipline over time.

Challenge

Gerflor sought greater transparency into the costs associated with its foreign exchange activity across multiple banking partners. While the company maintained active FX operations involving spot transactions, forwards, and swaps, the underlying margins applied by each bank were not consistently visible or easy to compare.

The treasury team needed a structured way to evaluate FX pricing conditions across banks, instruments, currencies, and maturities while ensuring transaction costs aligned with market standards. The engagement also aimed to improve operational consistency by encouraging banks to systematically provide timestamps for trade confirmations and establish clearer pricing schedules through formal agreements.

The review covered 13 currencies: AUD, CAD, CHF, CNH, CZK, DKK, GBP, JPY, NOK, PLN, SAR, SEK, and USD, across the previous 12 months of transaction activity.

Solution

Redbridge conducted a group-level review of Gerflor’s FX operations using proprietary benchmarking methodologies and timestamped market databases to reverse-engineer bank margins embedded within foreign exchange transactions.

The engagement included the compilation and analysis of transaction volumes, instruments, timestamps, and applied FX rates in order to determine the effective costs and margins associated with Gerflor’s trading activity. Redbridge benchmarked pricing conditions by bank, instrument type, and maturity structure, creating an “apples-to-apples” comparison across the company’s three banking partners.

The review process was conducted in several structured phases throughout 2025, including a kick-off meeting, upside analysis, first-round benchmarking review, and final negotiation phase. Redbridge also worked directly with participating banks to encourage standardized pricing transparency and more consistent timestamp reporting for trade confirmations.

Beyond identifying optimization opportunities, Redbridge supported Gerflor in securing formal written agreements designed to standardize FX pricing terms and improve long-term governance around transaction execution.

Results

40% Reduction in FX-Related Costs

Gerflor achieved a 40% reduction in FX-related costs through structured benchmarking, pricing analysis, and optimized negotiation with its banking partners.

Formalized Pricing Schedules and Timestamp Transparency

Participating banks committed to adhering to clearer pricing schedules and systematically providing timestamps for trade confirmations, improving transparency and comparability across FX transactions.

Long-Term Monitoring Process Implemented

Gerflor and Redbridge established a joint monthly monitoring process beginning in December 2025 to verify that negotiated pricing improvements and savings continued to be realized over time.

Expanded Treasury Optimization Beyond FX Operations

In addition to improvements within foreign exchange operations, the engagement also identified opportunities to enhance broader cash management activities, particularly within the United Kingdom.