Background

IT systems were unable to meet the requirements of the operational needs of the business

IT systems were not driven by the recently re-organized business structure

Existing operations performance reporting processes and systems were presented in varying formats, with different financial criteria and spoke "different languages"

Existing non-integrated state of information systems which severly limited a system based approach to executing applications such as planning, performance tracking, operations control, prioritization of resource allocations, portfolio analysis, financing and shareholder communications

Solution

Definition, development and implementation of a business-driven Integrated Financial Management System that delivers application tools in three key areas:

Operations Decision Support tools: Sales and Marketing applications, Production and Distribution applications, Procurement applications, Financial applications, Incentive and compensation applications

Business Forecasting tools: Short-term 12 month rolling forecasts, Long-term 5 year forecasts, Review and upgrade forecasting process, Sensitivity analysis, Contingency planning, Business Portfolio analysis and Competitive Analysis and Benchmarking.

Performance Tracking tools: Actual Performance versus Plan for Financial plans, Actual Performance versus Plan for Operational plans, Historical trends and correlation analysis.

Project Phases

Phase 0: Workplan Development and Project Team Preparation
Phase 1: Business Process Mapping and User Needs Definition
Phase 2: Definition of Applications and Data Requirements
Phase 3: Fix Data Gaps in Transactional Systems
Phase 4: Develop Data Warehouse
Phase 5: Develop Applications and Test in Use
Phase 6: Refine Applications and Roll-out to Organization
Phase 7: Restructure Organization
Phase 8: Drive Cultural Shift and Demonstrate Value in Use

Results

Sustainable profit improvement of U.S.$15 million and cash neutral over a three year period.

Paradigm shift in the culture of information management, control and application. Quality of information that is available directly, on-line to decision makers.

Clear, consistent and fact-based communications top to bottom and across all business groups, companies and functional areas.

Rapid communication, implementation and tracking of corporate, divisional and business unit financial objectives -- Cash flow, EPS, EVA.

Ensures an integrated understanding of the impact of decisions on financial statements.

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