Railroad Equipment Manufacturer Goes Live with HFM

All aboard!  A manufacturer of products for locomotives, freight cars and passenger transit vehicles recently went live with a Hyperion Financial Management (HFM) solution designed to transform the CFO organization.  Wanting to provide greater visibility and more timely insight into its financial results, our client migrated from an Oracle GL / Hyperion Essbase consolidation process that didn’t meet those needs.  Now with its global reporting solution, HFM is the tool bringing together its operating unit, divisional, regional, and segment reporting in one place at a level of detail needed to run the business.

Additional enhancements of this new financial reporting platform include:

• A revised Global Chart of Accounts that was established as the basis for external and internal management reporting and provides necessary and improved granularity
• Centralized mapping into HFM controlled by the Corporate reporting group to ensure data consistency
• Greater review capabilities by drilling-back from HFM into source system data
• Data quality validation checks with sign-off requirements to ensure accuracy and visibility throughout the close process
• Standardized reporting across the organization

Finit’s involvement in this organizational transformation – as so many of our projects do - came about due to a recommendation from a colleague who is an enthusiastic Finit supporter and client.  Finit’s dedication to providing our client an UNMATCHED EXPERIENCE led to a great success for all involved.

For more information on Finit’s Consolidation Services please contact us at insights@finit.com.