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Textron Soars High in the Oracle Cloud
By Juergen Lindner, senior vice president of SaaS product marketing, Oracle—Sep 17, 2019
What do Bell vertical lift products, Cessna and Beechcraft aircraft lines, COMMANDO Elite military vehicles and E-Z-GO golf carts have in common? Not only are they iconic and powerful brands, but they are all part of Textron’s diverse, multi-industry business product portfolio.
Textron has had a long history of success. Founded as a small New England business in 1923, the company has since grown into a network of businesses with total revenues of $14 billion, and approximately 35,000 employees with facilities and presence in 25 countries, serving a diverse and global customer base. A Fortune 500 company, Textron consists of numerous subsidiaries and operating divisions, which are responsible for the day-to-day operation of its businesses.
While growth has been consistent, Textron’s corporate office, which houses many support functions, such as finance, treasury, executive rewards, IT, legal and environmental, health and safety, was struggling to keep up. The company needed to find a way to automate core business processes and improve decision making. Holding it back from realizing this vision was its outdated on-premises business management system.
Textron was looking for a cloud-based solution with built-in functionality to automate core business processes and improve decision making through real-time insights and reporting. In addition, it needed to eliminate the costly and time-consuming application updates its previous system required so it could adopt the latest technology innovations and adapt to changing business demands. After an in-depth vendor evaluation, Textron replaced its corporate office’s 20-year-old legacy system with Oracle Enterprise Resource Planning (ERP) Cloud – all in just 14 weeks.
Live for almost a year now, Textron’s corporate office is now able to increase productivity, reduce costs and improve controls by streamlining financial processes and reporting while taking advantage of cloud innovations and automatic upgrades.
“With Oracle ERP Cloud, we've been able to save time and significantly reduce costs. Instead of upgrades taking nine months and thousands of dollars to implement, we are able to upgrade features in a day and a half with no business disruption,” said Kelli Gudz, senior finance systems manager, Textron.
Building on the success of its Oracle ERP Cloud implementation, Textron is currently in the process of enhancing its Oracle Cloud Applications footprint to include Oracle Tax Reporting Cloud Service.