- Need Help? Talk to an Expert 888-664-4794
Company Overview
Founded in 1952, this company is a global leader in designing and manufacturing agricultural systems. It serves the poultry, hog, egg production, and grain industries, providing innovative solutions to enhance efficiency and productivity. The company is dedicated to helping feed a growing world population by developing technologies that support sustainable and efficient agricultural practices. With a workforce of over 3,000 employees worldwide, it operates numerous manufacturing and warehouse facilities. Its commitment to innovation and excellence has driven significant growth and established a strong global presence. The company’s products include systems for grain preservation, poultry and pig production, and food processing, aiming to meet the increasing demand for higher-protein food sources.
Challenge
The client struggled with existing Excel spreadsheets used for consolidations. There was no auditability for a complex process that provided eliminations, currency translations, and reporting. This lack of transparency led to inefficiencies and potential errors in financial reporting. To address these challenges, the client implemented a more robust and auditable system, enhancing accuracy and efficiency in their consolidation processes.
Solution
An FCC solution enabled automatic eliminations, currency translation, journal entries, and reporting. Data Management was utilized to process and map historical data from JD Edwards and ongoing data from Oracle Fusion GL. This integration streamlined financial operations, ensuring data consistency and accuracy. As a result, the client achieved greater efficiency and reliability in their financial reporting processes.
Result
Oracle Cloud Close and Consolidation provided a faster close process with better reporting and the ability to communicate with parent company Berkshire Hathaway. The client was able to improve the quality of reporting while providing new auditing capabilities and less manual effort.
