The most obvious impact is salary. MLB Trade Rumors projected Hellickson to earn $6.6 million in arbitration this year, and the team no longer has to pay that. It's not necessarily that bad of a deal for the Phillies, considering Hellickson is pretty close to average for a starting pitcher (Career ERA+ of 98). He'd probably have got that much or more as a free-agent, had we non-tendered him. But from Arizona's point of view, it's money we didn't need to spend, with younger, cheaper alternatives who should be able to deliver around the same level of production, with significantly better upside [Hellickson is now a full three seasons removed from an ERA+ above 100]
The money thus saved, can now be funneled towards other areas, most likely funding a front of the rotation starting pitcher.