Calculate and Adjust in Real Time for Non-Controlling Interest Percentages and Discontinued Operations
The Client
ParkOhio is an industrial supply chain logistics and diversified manufacturing business operating in three segments: Supply Technologies, Assembly Components, and Engineered Products. The company’s businesses operate approximately 90 manufacturing, distribution, and service facilities, and employ approximately 6,000 people worldwide. Revenues totaled approximately $1.3 billion in 2016.
Business Issues
- Excel-based consolidation, budgeting, and reporting models feeding a corporate consolidation solution
- Labor-intensive data collection and report development processes
- Growth through acquisition and multiple systems and chart of accounts
- Increased internal and regulatory reporting requirements as public company
Longview Solution
- Planning, budgeting, and forecasting
- Consolidation
- Longview Integration Suite (LVIS)
- Design, development, and deployment advisory services
Benefits and Impact
- Implemented global Corporate consolidation application with sub-consolidation applications for five subsidiaries including RB&W, Supply Technologies, General Aluminum, Ajax Tacco, and Fluid Routing Systems
- Implemented standardized corporate planning solution and integrated Planning applications within subsidiaries
- Leveraged LVIS to automate data integration between multiple-source general ledgers and subsidiary and corporate Longview Consolidation solutions
- Improved speed of financial planning and close processes