Major steel producer upgrades systems to enable greater EPM efficiencies and visibility
Steel manufacturer faces rusty on-premises limitations
TimkenSteel, a premier U.S. producer of high-quality steel for more than 100 years, was hamstrung by on-premises limitations and complexity in consolidations processes. Key challenges included rigid deployment options that required costly hardware and IT investments, limited ability to integrate, and insufficient reporting capabilities.
Guiding the way to better planning, modeling, and reporting
Argano conducted a requirements workshop to develop and design an implementation plan for a move to Oracle Cloud EPM Financial Close and Consolidation. The planning phase included close alignment with TimkenSteel’s business goals and objectives to implement a solution that would help make decisions in real time with complete and accurate data.
A successful EPM migration results in increased transparency and better real-time business decisions
The smooth migration to Oracle Cloud had multiple benefits for TimkenSteel. It eliminated manual excel-based processes and outdated systems, simplified consolidations, generated automated cash flow reporting, and improved intercompany reporting. The upgrade enabled a single source of truth that allowed for automated data gathering and analysis, and now gives TimkenSteel the power to make information sharing across the organization fast, efficient, and actionable.
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