Global Textile Manufacturer
Overview
This vertically integrated textile company manufactures and sells yarn, fabric, apparel, and home products. It is one of the largest textile companies in the Americas and in the world, and is a major exporter to North America, Europe, Central America, and South America. They hold a strong commitment to quality and service and provide their customers across the globe with innovative and high-quality products.
When issues with reporting and consolidation arose, they sought a solution that would streamline the report maintenance process and eliminate the need for manual consolidations, and deFacto Global delivered.
Challenges
Inefficiencies in their consolidation and financial reporting systems hampered the company’s processes. The current process for report maintenance required manual refreshes and updates to monthly reporting packages, which contained unstable links connected to several other files. This was a time-consuming and error-prone process. Additionally, to finalize the reporting, these links had to be broken and a version without formulas and links needed to be saved. This created an additional layer of complexity and made it difficult to track changes. Consolidations also needed to be done manually, which was another time-consuming and mistake-laden process.
dF Solution Statement/Results
As part of Power Planning, deFacto Global developed an ETL process to load sales data nightly. This allowed the conglomerate to quickly and efficiently analyze and report the sales data. Custom input templates allowed the conglomerate to enter and track data in an organized and manageable fashion. Additionally, DeFacto Global developed driver-based allocations to ensure accurate and up-to-date financial information. This streamlined the financial reporting process and allowed the conglomerate to make more informed decisions in a timely manner.
The new solution has saved the textile conglomerate a significant amount of time and money by improving the accuracy and reliability of their reporting. As a result, the conglomerate is now able to make better decisions faster, which has helped them to improve their bottom line.