DENSO Europe Improves and Simplifies Cross-National Financial Processes and Compliance by Upgrading to Flexible, Intuitive Solution
 
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DENSO Europe Improves and Simplifies Cross-National Financial Processes and Compliance by Upgrading to Flexible, Intuitive Solution

  • Oracle Customer:  DENSO Europe
    Location:  Weesp, Netherlands
    Industry:  Automotive
    Employees:  12,000
    Annual Revenue:  $1 to $5 Billion

DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global supplier of automotive thermal, power train control, electric, electronics, vehicle information, and safety components. With more than 200 subsidiaries and affiliates in 35 countries, DENSO Corporation supplies automotive parts to the world’s major carmakers. Last fiscal year, the organization spent 9.4% of its consolidated revenue, globally, on research and development.

DENSO Europe, headquartered in the Netherlands, operates production plants and sales offices in 15 countries throughout Europe and North Africa. Its interconnected laboratories and testing centers in Germany, Sweden, Italy, and the United Kingdom develop pioneering automotive technologies that meet the requirements of European car manufacturers.

 
 

 
 

Challenges

A word from DENSO Europe

  • “Thanks to Oracle’s JD Edwards EnterpriseOne 9.0 implemented by Cadran Consultancy, we significantly improved the efficiency of key financial processes. For example, we accelerated receivables by 70% to 80%. We also achieved a return on investment within three years, since we were able to standardize and automate financial processes throughout DENSO Europe and eliminate the high costs for external consultants.” – Pim de Groot, Director, Finance and Accounting, DENSO Europe

  • Automate a large number of manual and time-consuming activities, such as processing accounts receivables and producing financial reports, to better support its cost-driven automotive business
  • Standardize financial processes across countries with different financial and tax laws—including the United Kingdom, Morocco, Sweden, and the Netherlands—to reduce administrative costs while enabling rapid cross-country comparison of financial performance
  • Support Single Euro Payments Area (SEPA) transactions to increase efficiency and speed of cross-border financial transactions in the Euro area—which covers 32 European countries, from Austria to the United Kingdom
  • Increase staff productivity with a user-friendly finance and accounting application that can be deployed in a Microsoft Windows environment
  • Expedite compliance with complex financial regulations, such as International Financial Reporting Standards (IFRS) and Sarbanes Oxley (SOX)

Solutions

  • Upgraded to Oracle’s JD Edwards EnterpriseOne 9.0 for process standardization across European offices and improved efficiency for key financial processes that support the automotive aftermarket parts business—such as rapid cross-border payments and e-invoicing in the SEPA region
  • Made accounts receivable processing 70% to 80% faster by using optical character recognition for matching incoming payments to issued invoices, reducing customer credits and optimizing financial risk assessments
  • Streamlined financial reporting across differing value added tax (VAT) regimes within DENSO Europe’s countries of operation—since, for example, the company can create VAT reports in any desired format at the touch of a button
  • Improved accounting staff productivity with JD Edwards EnterpriseOne 9.0’s enhanced user interface, which is displayed on the Microsoft Windows desktop, which is familiar to DENSO Europe’s employees
  • Simplified compliance with IFRS standards and SOX regulations—including the Japanese version, J-SOX—and enabled support of SEPA payments, thereby eliminating consultant costs and achieving a return on investment within three years
  • Minimized data exposure by applying JD Edwards EnterpriseOne 9.0’s strict security settings, protecting financial data integrity and confidentiality previously at risk
  • Enabled in-house administration of all application management activities, thanks to JD Edwards EnterpriseOne 9.0’s flexible configuration, resulting in better systems governance—a focal point for J-SOX compliance—as well as quicker implementation and easier maintenance of business-driven change requirements
  • Optimized accuracy and accessibility of accounting and financial information across all European offices, giving managers direct insight into financial performance while considerably mitigating financial risks

Why Oracle

“Our aim was to optimize accounting performance, add technical functionality such as support for international financial reporting and cross-border payments, and ease regulatory compliance,” said Pim de Groot, director, finance and accounting, DENSO Europe. “Oracle JD Edwards EnterpriseOne 9.0 provided all this with a user-friendly, intuitive interface. The implementation has served as a pilot project within DENSO Corporation, and its continued success paves the way for further deployment throughout DENSO worldwide.”

Implementation Process

DENSO Europe completed the implementation process within the estimated time and on budget, taking nine months from project start to going live across all seven European sales branches.

“The implementation went very smoothly,” De Groot said. “We recognized that such an implementation represented a significant internal change, so we devoted considerable attention to our staff by organizing trainings and incentives centered on Oracle JD Edwards EnterpriseOne and using JD Edwards EnterpriseOne User Productivity Kit. As a result, we ensured that users understand, support, and endorse new ways of working.”

Partner

“Collaboration with Oracle Platinum Partner Cadran was very important, especially in the run-up to the implementation, where a great deal of trade knowledge was necessary to ensure that DENSO Corporation and DENSO Europe were on the same page,” De Groot said. “We appreciated Cadran’s hands-on approach, pragmatism, flexible attitude, and profound knowledge of Oracle applications. They spoke to us using the language of our business, so we were very satisfied with the collaboration.”