Marel Cuts Time for Report Compilation from Six Days to Three Hours, Reports Quarterly Results 3x Faster, and Achieves ROI in One Year
 
 

Marel Cuts Time for Report Compilation from Six Days to Three Hours, Reports Quarterly Results 3x Faster, and Achieves ROI in One Year

  • Oracle Customer:  Marel
    Location:  Gardabaer, Iceland
    Industry:  Industrial Manufacturing
    Employees:  4,000
    Annual Revenue:  $500 Million to $1 Billion

Marel is a leading global manufacturer of integrated fish, poultry, and meat processing equipment for the food industry. The company’s innovative machines and systems enable customers to maximize yield and throughput while optimizing product quality and cutting labor costs. Marel operates manufacturing facilities in 16 locations in Europe, the United States, Latin America, and Asia Pacific, and it has offices in 30 countries on six continents.

 
 

 
 

Challenges

A word from Marel

  • "Oracle Hyperion Financial Management has transformed us from a business-unit-focused organization into global, customer-oriented, and enterprise-driven by supporting continuous improvements in operational excellence; increased penetration in the poultry, fish, meat and further processing sectors; and sustained innovation." – Ronald Wijnveld, Manager, Consolidation, Marel

  • Simplify and accelerate statutory and management reporting across 65 business units, including factories, sales and service offices, and transportation organizations, while automating timely monitoring and tracking of global key performance indicators (KPIs)
  • Streamline the acquisition and assimilation of Stork Food Systems to cut time to value by optimizing synergies, and leverage the best of both organizations to maximize profitability and market penetration
  • Gain a single, cross-enterprise view of the output and performance of plants manufacturing poultry, fish, and meat processing equipment, globally, to identify lagging and leading businesses and market areas and take prompt corrective action
  • Monitor sales pipeline and sales conversion rates to gain insight into the profitability of individuals and sales teams to shorten the decision-making process
  • Gain a timely view of sales and orders to help identify emerging eating trends and preferences of end-consumers ahead of competitors in the challenging global food industry and respond quickly to the changing requirements of abattoirs (slaughterhouses) and manufacturers of prepared food products

Solutions

  • Deployed Oracle Hyperion Financial Management to replace manual spreadsheets, cutting the time to consolidate input for monthly management reports from 65 business units in multiple currencies from 15 days to 3 days and compiling reports in three hours instead of six days
  • Completed preparation and submission of quarterly reports for the Icelandic Stock Exchange (ICEX) in one week instead of three by standardizing data structures across the entire company
  • Realized a return on its investment in Oracle Hyperion Financial Management in 12 months
  • Completed a rapid merger of Stork Food Systems and Marel Food Systems into a single business with Oracle Hyperion Financial Data Quality Management, standardizing codes and reporting language across the two entities to simplify the consolidation and validation of financial data from disparate source systems
  • Automated extracting 80% of the data needed for KPI monitoring, which reduced manual data entry and improved the productivity of financial teams in all reporting units
  • Generated smarter, more timely insights at every level of the business with Oracle Hyperion, helping grow revenue by an average of 6.5% each year
  • Introduced a steady pipeline of new products, and strengthened sales in all regions by using the insights captured with Oracle Hyperion to identify and meet the changing needs of abattoirs, food manufacturers, and end-consumers
  • Automated monitoring KPIs—operational excellence, market penetration, and innovation—throughout the entire organization and gained ability to track performance at team and individual profit-center levels, which shortened and improved the efficiency of the corporate decision-making process
  • Implemented Oracle Hyperion Smart View for Office, enabling users to import, manipulate, export, and share data in Microsoft Excel and compile intelligence reports at the business-unit level
  • Generated timely intelligence on market and user trends with Oracle Hyperion to help put the company on track to meet target growth of US$1.29 billion (€ 1 billion) annually by 2017 and reach the goal of achieving best-in-class profitability in the poultry, fish, and meat processing sectors

Why Oracle

Marel chose Oracle Hyperion Financial Management because it had a proven, 10-year track record with Stork Food Systems. Oracle was the logical choice to consolidate reporting and KPI monitoring across the merged business through a single source of uniform data.

"Oracle Hyperion Financial Management gave us the insights we needed to become the customers’ choice in supplying integrated systems, products, and services to the fish, meat, and poultry industries,” said Ronald Wijnveld, manager, consolidation, Marel.

Partner

Marel worked with Oracle Specialized Partner Finext, which had implemented and managed Oracle Hyperion Financial Management for Stork Food Systems, to redesign the solution to meet the needs of the merged business. Finext gathered input from existing and potential users and built a prototype that would meet the needs of financial teams and business managers of all levels and functions. Finext continues to provide technical expertise and management for the Oracle Hyperion financial consolidation platform.

"Finext’s expertise and experience with Oracle Hyperion was critical to our transformation from a fragmented organization to a centrally-managed, market-centric business," said Ronald Wijnveld, manager, consolidation, Marel.