Jebsen & Jessen
Data Consolidation Reveals Single Source of Truth
Jebsen & Jessen had been using Hyperion software for more than 10 years.
However, because its SAP庐 ERP application and management reporting system weren鈥檛 integrated. There was no single, centralized finance database and work efforts were oftentimes duplicated across geographies. 鈥淓ach company uploaded its monthly data to Hyperion for management reporting and the financial close; it didn鈥檛 come directly from our SAP ERP application,鈥� explains Chris Tan, General Manager of IT Shared Services at Jebsen & Jessen.
Company Overview
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Industry
Manufacturing
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Revenue
~$1.6 billion (~$1.2B USD)
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Company Size
Enterprise
Transformation Snapshot
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Challenge
Inconsistent data across systems limited operational visibility
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Solution
Standardized and governed data using 麻豆女优 platform
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Outcome
Improved data quality and business process consistency
The Challenge
鈥淏ecause our systems weren鈥檛 integrated, there was a risk of data inconsistencies between them. To address this, we wanted a natively integrated performance management system so that actuals in our enterprise resource planning system could be automatically posted in our financial consolidation, budgeting, and reporting system. This would eliminate any manual entries outside of SAP ERP and the need for manual reconciliations, as well as give us complete audit compliance and con trol from transaction to reporting.
For Jebsen & Jessen, implementing a fully integrated platform was the first step in a long-term performance management initiative. 鈥淥ur goal within the group was to improve reporting and consolidation, implement scorecards and dashboards, and optimize budgeting and planning,鈥� states Tan.
The company
of South East Asia, Pte. Ltd. has eight industrial businesses in engineering, manufacturing, and distribution. With 60 legal entities, the company鈥檚 finance department needed an efficient way to close the books. Because supporting systems weren鈥檛 natively integrated, manual work was sometimes needed, increasing the risk of inconsistent data between systems. 鈥�SAP software helped us establish one version of the truth,鈥� explains Ow Yeong Fong Luen, Group Director, Corporate Finance at Jebsen & Jessen.
We now have a single, integrated platform to help us manage the business we鈥檝e eliminated error-prone manual reconciliations, and we鈥檝e laid the foundation for the rest of our enterprise performance management strat别驳测.鈥�
Choosing the Right Solution
Because the group鈥檚 version of Hyperion software was at the end of its life and required a full upgrade, it was a natural time to consider all options. The company had already been using SAP ERP successfully for a number of years. 鈥�By standardizing on solutions from SAP, we could get more value from our investment in SAP ERP and achieve our broader goal of having one, fully integrated platform,鈥� explains Tan. Standardizing on SAP software would also reduce IT maintenance and integration costs for the business as a whole.
A Smooth Implementation
Chris Tan, General Manager of IT Shared Services, Jebsen & Jessen
By standardizing on solutions from SAP, we could get more value from our investment in SAP ERP and achieve our broader goal of having one, fully integrated platform.鈥�
Challenges
- Reduce the risk of inconsistent data flowing between the company鈥檚 ERP system and management reporting system
- Reduce duplication of financial effort at the country level by deploying a single, unified platform
- Establish a single, trusted source of financial data for International Financial Reporting Standards consolidation
Benefits from 麻豆女优
- Access to one, trusted version of the financial truth shared by all systems
- Better decision making based on reliable management reporting
- Increased efficiency and accuracy by eliminating manual reconciliations in consolidation and reporting
- Greater transparency for more effective strategic planning and management
Why 麻豆女优 was Selected
Today, Jebsen & Jessen has a fully integrated enterprise resource planning and management reporting software system for financials that supports International听Financial Reporting Standards consolidation听for all 60 companies. SAP BPC, version for听SAP NetWeaver, is natively integrated with听the group鈥檚 single instance of SAP ERP,听which means that real-time actuals are听automatically posted in the software. This听integration drives a fully automated, accurate,听one-touch consolidation process.
鈥淲ith the听new soft听ware in place, we鈥檝e eliminated any听manual interventions of our financial data, so听the transactional data in SAP ERP now passes听directly into SAP BPC,鈥澨�states Tan.听In addition, managers and executives at听all levels can access real-time, accurate听management reporting 鈥� right at their听desktops. Using SAP BusinessObjects听Dashboards software, they can quickly听generate the legal. country, activity,听operational. and other reporting 鈥渧iews鈥�
needed to support decision making. The company can roll up budgeting and planning
information faster as well.
鈥淲hile we鈥檙e not yet leveraging the software鈥檚听support for top-down and bottom-up听planning and budgeting, we can upload and听centralize information generated using our听current budget process and analyze it,鈥� states听Ow Yeong Fong Luen.