When founded in 1934 as the Belgium American Radio Corporation, Barco manufactured radios, and it added televisions in the 1960s and 1970s. Today, Barco N.V. is a publically-traded, global-technology company that designs and develops visualization solutions aimed at optimizing productivity and business efficiency. Its innovative hardware and software solutions integrate all aspects of the imaging chain, from image acquisition and processing to image display and image management. Barco’s products are used in several industries, including avionics, broadcasting, healthcare, media and entertainment, military, oil and gas, security, and telecommunications for a variety of applications, such as medical imaging, broadcasting control rooms, virtual reality, and simulation and training.
“When we decided to upgrade our financial management solution, we analyzed an Oracle Hyperion upgrade versus a new solution from SAP. We asked for customer references regarding performance and functionalities from other large Belgian companies and discussed their usage. The advice we received was strongly in favor of Oracle, so we chose Oracle Hyperion Financial Management based on these recommendations,” said Véronique Feys, consolidation and reporting director, Barco N.V.
The implementation process went smoothly. Barco uploaded one year of historical data in Oracle Hyperion Financial Management and reconciled it with the existing Hyperion solution. It ran tests to check if the consolidation rules were set up properly, as they implemented a new chart of accounts to identify mapping issues before the go-live date. Complementary information was loaded via Oracle Hyperion Smart View for Office, a tool that provides a common Microsoft Office interface, designed specifically to incorporate data saved in spreadsheet and workbook-based models. Barco also performed a double closing for October, November, and December 2011 to ensure all data was correct before it went live in January 2012, without any issues.
“We collaborated very closely with Oracle partner KPMG CFO Advisory at several workshops where we described the existing situation and the changes we expected from the upgrade. Based on these workshops and the design document, our implementation partner started to set up the consolidation rules in Oracle Hyperion Financial Management. It did a good job and helped us to achieve a fast and seamless upgrade,” Feys said.