Old world industries business transformation study

SAP Business Transformation StudyChemicals, AutomotiveOLD WORLD INDUSTRIESSPEEDING DELIVERY OF CONSOLIDATED FINANCIAL RESULTSQUICK FACTSKey ChallengesWhy SAP Was SelectedIndustries• Automate manual, spreadsheet-based pro-• Easy-to-deploy, Web-based applicationChemicals, automotivecesses for generating financial statements• Familiarity of the user interfaceRevenue• Unify disparate data sources• Ability to provide basis for financial, perfor-Over US$1 billion• Replace multiple tools with a single, com-mance, and operational analysisprehensive applicationEmployees • Resolve data integrity issues200Headquarters Implementation Best PracticesLow Total Cost of OwnershipNorthbrook, Illinois• Consolidated disparate data sources into • Eliminated legacy systems1 repository• Reduced number of systems and interfacesWeb Site • Used a phased implementation approach• Achieved rapid deploymentwww.oldworldind.com• Provided knowledge transfer to get end • Realized quick time to benefitSAP® Solution and Services users up and running quicklySAP® BusinessObjects™ Planning and • Took advantage of well-known Excel-based Consolidation applicationuser interface to ease transitionImplementation PartnerAster Group Inc.Financial and Strategic Benefi tsOperational Benefi ts • Greatly sped up the delivery of actionable Key Performance Indicator ImpactIn the past, chemicals and automotive informationMonth-end closing time -2 to -3 days• Improved data integrity and accuracyproducts leader Old World Industries • Allowed more time for value-added analysisTime to provide additional -8 hoursInc. used spreadsheets and manu-• Provided quick financial statement variance month-end reports analysisal processes to consolidate financial • Utilized drill-through feature to link to Daily business From 10 results from its 10 divisions and 33 accounts payable images reporting time person-hours to secondslegal entities – a lengthy, error-prone process. To save time and speed month-end closing, Old World chose the SAP® BusinessObjects™ Planning and Consolidation application. Old World uses the software to report actuals and for budgeting, forecasting, and key performance indicator analysis.“SAP BusinessObjects Planning and Consolidation saves a lot of time and eliminates www.sap.com /contactsapmany opportunities for something to go wrong. Previously, it was organized chaos.”Jason Schieffer, Financial Reporting Manager, Old World Industries Inc.Old World Industries Inc. is a global pro-solidation because of its deployment ease; Accountants are now analysts rather than vider of chemical and automotive products the strength of its financial management, data entry clerks, and the financial staff and the leading distributor of antifreeze in performance measurement, and operation-can quickly provide relevant and action-the United States. Since the company al management functionality; and its ability able information to leadership. “With comprises 10 distinct divisions that com-to deliver results quickly and easily.SAP BusinessObjects Planning and Con-pile financial data separately using four solidation, you can see how everything disparate data source systems, combining A New Way for Old Worldflows,” says Schieffer. “Now when you results to produce overall corporate are in a meeting and the CFO asks you a results was a monumental undertaking. To Old World’s initial vision was to use the question, instead of taking hours or even simplify, automate, and expedite this pro-application for reporting actuals. However, days to get the answer, you can have it cess, and to add analytic reporting func-the company soon expanded the initiative in seconds. We are very excited about tionality, Old World has adopted the SAP® to include budgeting and forecasting. SAP BusinessObjects Planning and BusinessObjects™ Planning and Consoli-“Once we got up and running,” states Consolidation.”dation application.Alison Eder, accounting supervisor, “we saw the potential for so much more.” A House of CardsOld World’s daily business reporting pro-In the past, preparation of monthly finan-cess, which used to take 10 person-hours cial statements was frustrating and time-per day to complete, now takes seconds. consuming. Data from the divisions was The company is saving two to three days in manually pasted into spreadsheets, which the month-end close process and at least could contain thousands of rows, and eight more hours in producing additional then manually inputted into a “shared” financial reports. And time saved isn’t the spreadsheet to produce monthly financial only benefit; the accuracy of the data has statements. The spreadsheet provided also increased.no audit help, and only one person could get into it at a time. “You could be fin-Getting a Good Returnished with your division’s report by 2:00 p.m. and not be able to get into the Old World’s return on investment was spreadsheet until 5:30 p.m.,” explains almost immediate. Aster Group’s knowl-Implementation PartnerJason Schieffer, financial reporting man-edge transfer allowed users to begin using Aster Group is a leading business and ager. “And if one person made a mistake, SAP BusinessObjects Planning and Con-technology consulting firm specializing in everything could fall apart like a house of solidation quickly and equipped them to tai-the SAP BusinessObjects Planning and cards.”lor the application as required for their own Consolidation application. Aster’s team of specific needs. The Excel interface made finance experts has built over 300 busi-To rectify this situation, Old World called things easy. “Everyone knows Excel,” ness planning and consolidation applica-in Aster Group Inc., which recommended asserts Eder. “You are not learning com-tions for more than 130 clients throughout SAP BusinessObjects Planning and Con-pletely new software.” the United States and Canada.50 091 695 (10/03) ©2010 SAP AG. All rights reserved.All other product and service names mentioned are the trademarks of their respective companies. Data contained in this document serves informational purposes only. SAP, R/3, SAP NetWeaver, Duet, PartnerEdge, ByDesign, Clear Enterprise, National product specifi cations may vary.SAP BusinessObjects Explorer, and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks These materials are subject to change without notice. These materials are provided by of SAP AG in Germany and other countries. SAP AG and its affi liated companies (“SAP Group”) for informational purposes only, without represen tation or warranty of any kind, and SAP Group shall not be liable for Business Objects and the Business Objects logo, BusinessObjects, Crystal errors or omissions with respect to the materials. The only warranties for SAP Group Reports, Crystal Decisions, Web Intelligence, Xcelsius, and other Business products and services are those that are set forth in the express warranty statements Objects products and services mentioned herein as well as their respective logos accompanying such products and services, if any. Nothing herein should be construed are trademarks or registered trademarks of SAP France in the United States and as constituting an additional warranty.in other countries.