Despite being a world leader in manufacturing, production, and design, this company’s financial and IT business units lacked a single source of truth (SSOT). Many valuable resource hours were dedicated to manual data entry into Excel. This was done to gather the data needed to create financial and budget reports, and often the reports would take a month to produce.
Adding to their challenges, three business units in different locations often used disparate business solutions. There was limited automated data sharing, so volumes of information had to be manually compiled to produce reports containing data for more than one location. Creating reports in this manner was time-consuming and resulted in opportunities for error.