Hitachi Automotive Strengthens Financial Reporting with Infor
Infor, a leading provider of business application software serving more than 70,000 customers, today announced that Hitachi Automotive Systems Americas, Inc., a top automotive systems manufacturer, has expanded its relationship with Infor by implementing Infor10 Corporate Performance Management (PM10) to consolidate budget processes and facilitate more efficient and detailed financial reporting. Hitachi Automotive employees now have access to comprehensive data from each of Hitachi's five locations operating Infor CPM, enabling both faster financial approvals and simplified data retrieval. Additionally, the scalability and multi-currency functionality of Infor CPM will play a key role in Hitachi's global growth initiatives, including plans for a new facility outside the United States.
News Points
- Hitachi Automotive selected Infor CPM to consolidate financial reporting and enable finance managers to drill down to see how specific products impact top-line numbers. The solution provides greater control over the budgeting process, resulting in faster and simpler approvals.
- Infor CPM combines budget information approved by each separate Hitachi facility to create a comprehensive view of financial information across locations, enabling departments to make better, more informed decisions.
- Infor CPM provides Hitachi Automotive with the scalability and functionality required to accommodate the company's global expansion initiatives, including the need for multi-currency transactions, delivering one solution to operate at any Hitachi facility around the world.
- Hitachi Automotive can now generate straightforward quarterly reports for its parent company, helping to strengthen compliance with internal and external auditors by consolidating financial data with Infor CPM.
- Infor Consulting Services (ICS) collaborated with Hitachi Automotive to complete the implementation on-time and on-budget at each location.
Hitachi Automotive Quote
"Prior to our implementation of Infor CPM, we were only able to generate financial statements for large product families as a whole," said Dianna Thompson, business systems consultant, Hitachi Automotive. "Now we can capture and report financial data at a much more granular, product specific level that permits management to drill down into the details of manufacturing costs."
Infor Quote
"The bottom line is that Infor Corporate Performance Management helps companies capture and control financial data and to deliver critical results with confidence to all financial stakeholders," said Scott Lindsay, director, Product Management, Infor. "Whether in manufacturing, distribution, hospitality, healthcare, or retail, Infor CPM facilitates better budget processing and provides a holistic view of corporate finances, so users can quickly close and consolidate the books and publish accurate financial reports."