Calculate and Adjust in Real Time for Non-Controlling Interest Percentages and Discontinued Operations

Parkohio Main Image

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