Visteon is a leading global automotive supplier that designs, engineers, and manufactures innovative climate, electronic, interior, and lighting products for vehicle manufacturers. With corporate offices in Van Buren Township, MI; Shanghai, China; and Chelmsford, United Kingdom, the company has facilities in 27 countries and employs approximately 27,000 people.
Visteon’s used of a homegrown financial management system, along with multiple spreadsheets, made it very difficult to obtain an accurate, up-to-date view of cash flow and profitability worldwide. It needed a financial planning and budgeting system that enabled it to drill down to the part level—a key functionality for the automotive industry. The company also wanted to ensure that its regions and offices used standard methods for inputting financial data, so its reports could truly support wise business decisions.
Visteon worked with CheckPoint Consulting and Emerging Solutions to implement Oracle Hyperion Financial Management and Oracle Hyperion Planning to provide meaningful, real-time revenue and profitability data—down to the part level—for improved cash management, planning, and budgeting. Through the implementation, Visteon decommissioned 10 systems and eliminated 15 interfaces by replacing a homegrown tool and multiple spreadsheets with the new centralized system for 1,500 users—ensuring data transparency and consistency for more accurate planning.
“With a project as large as this one, I advocate building it one component at a time,” said Robert Omillian, senior manager, Global Financial Systems, Visteon “Before I came onto the project, we tried the ‘big box’ approach. It didn’t work—it was too large and cumbersome. But, with Oracle, we have modularity. It gives us the flexibility to put in one piece at a time, integrate it, and then move on to the next piece when we are ready. Now we have a much more valuable tool to support our business.”
Visteon first upgraded to a new version of Oracle Hyperion Financial Management four years ago. Once this was completed, it started implementing Oracle Hyperion Planning, going live two-and-a-half years ago. The company worked with CheckPoint Consulting on the design and implementation. In addition, Visteon worked with Emerging Solutions to bring its staff up to speed on the new tools.