Smurfit Kappa Group Improves Management Control with Centralized Financial Reporting

Smurfit Kappa Group Improves Management Control with Centralized Financial Reporting

Smurfit Kappa Group is one the world’s leading producers of paper-based packaging, with approximately 350 production sites across 32 countries. The organization designs, manufactures, and supplies packaging, including corrugated packaging, solid board, and folding cartons.

Previously, reporting entities across Smurfit Kappa submitted separate files to the central finance department for manual consolidation. This decentralized approach made it difficult to carry out the intercompany matching process required to consolidate group financial reports and accounts. Smurfit Kappa upgraded to Oracle Hyperion Financial Management from Hyperion Enterprise for a centralized source of data to improve its intercompany matching process. Oracle Hyperion Financial Data Quality Management maps data directly to the majority of general ledger systems, providing a clear audit trail and ensuring financial compliance. This also helps improve data integrity and control, which benefits financial reporting overall.

In addition, Oracle Hyperion Financial Management is web-based, which significantly reduces IT administration time and costs, allowing users to quickly and easily access global financial information from any location, using a standard browser. Smurfit Kappa Group uses Oracle Hyperion Financial Management for its management and statutory reporting, budgeting, and for forecasting paper and packaging production and manufacture on a global scale.

A word from Smurfit Kappa Group

  • “With Oracle Hyperion Financial Management, we have improved our data integrity by centralizing all financial reporting data across 32 countries and improving financial management information and control.” – Caitriona Ambrose, Group Finance IT Administrator, Smurfit Kappa Group