Company Background
This Ranzal client is a Fortune 50 diversified company with worldwide operations.
Project Goals & Objectives
- Reduce the number of global reporting applications by 90%
- Achieve minimum acceptable system-throughput standards
- Achieve common design with rules, process, reports, security, accounts, hierarchy, validations (reduce correcting entries), etc.
- Simplify and improve content and delivery of financial information
- Use Workflow functionality to drive process and control improvements (e.g., reduce manual effort to increase analysis time, certifications, audit trails, improved visibility, alerts, fix Sarbanes-Oxley findings, etc.)
- Reduce reconciliation efforts by at least 25%
- Reduce supplemental data requests (Tax, Treasury, Planning, IR, intercompany, regional / segment reporting, etc.)
Business Issues
The implementation would require a complex design with various requirements owing to the company’s business units operating in very different business segments. The solution had to support up to 3,000 users, providing acceptable system performance, in over 300 locations with various general ledger systems, and meet strict Sarbanes-Oxley compliance requirements.
Software Implemented
- Hyperion Financial Management
- Hyperion Financial Reporting
- Hyperion Web Analysis
- Hyperion System 9 Financial Data Quality Management
Ranzal Role
Leading the design and application build, the Ranzal team successfully designed and assisted in implementing Hyperion Financial Management. In addition, Ranzal added consistency to complex foreign exchange calculations, provided improved visibility to intercompany transactions, and consistent reporting.
Business Benefits
- Common chart of accounts
- Profit in inventory
- Intercompany across applications
- Deferred foreign exchange
- Validations for process management
- Legal entity reporting
