Morgan Crucible plc has selected SAP BPC to streamline global management and statutory reporting, budgeting and forecasting
SAP BPC will cut the month end reporting cycle by 3-4 days – streamlining reporting time by over 30%.
London, UK — SAP AG (NYSE: SAP), today announces Morgan Crucible, a specialist materials engineering company, has selected SAP Business Planning and Consolidation (BPC) software (formally known as OutlookSoft) to streamline management and statutory reporting across its business units worldwide. The new software will enable Morgan Crucible to manage the required IFRS financial reporting, cutting end-of-month reporting time by 3-4 days and saving up to 30% of reporting time each month.
From medical instruments, aerospace, power generation and satellite communications to body armour, trains and fire protection systems: Morgan Crucible’s materials, technical and insulating ceramics and carbon, are fundamental components of many of the modern world’s sophisticated products. The company operates approximately 90 manufacturing facilities across the globe.
With a diverse range of interests across a variety of target markets, Morgan Crucible’s management team has to deal with ongoing economic and regulatory change. The BPC software will afford its management team greater flexibility with regard to understand shifts in trends through earlier access to financial and operational data from across the world.
The business planning and consolidation software will provide Morgan Crucible with a flexible yet highly efficient reporting solution that reduces the overall monthly reporting time from 13 to 10 days. The majority of savings will result from the streamlining of inter company balance matching and the automation of consolidation journals.
“It’s vital that we provide our financial and operational management teams with first-class technology that gives them timely and sufficient data to perform their jobs more effectively,” explains Stuart Cox, Group Financial Controller at Morgan Crucible. “The SAP BPC solution enables us to work smarter by helping enhance key reporting functions, such as data entry, consolidation and inter company matching processes. It’s not a significant change for our end-users as the SAP software uses a familiar, patented Excel interface which allows us to use our existing skill set and gives us the tools to build a flexible system that will satisfy the ever changing requirements of today’s business world.”
Installation begins in this month, with a project go-live date scheduled for October 2008.
Mike Hawes, Head of Office of the CFO for SAP United Kingdom and Ireland concludes: “The variety of markets and sectors Morgan Crucible operates within makes their financial reporting inherently complex. Our software is designed to create a single version of the truth. Figures from different units across the globe can be consolidated into a sophisticated and flexible unified system. We’re looking forward to seeing the positive impact our software will have.”
About The Morgan Crucible Company plc (“Morgan Crucible”):
Morgan Crucible is a global specialist materials engineering company serving the needs of customers in a wide range of markets. From medical instruments, aerospace, power generation and satellite communications to body armour, trains and fire protection systems, Morgan Crucible’s materials, technical and insulating ceramics and carbon, are fundamental components of many of the modern world’s most sophisticated products. Morgan Crucible has manufacturing locations in over 30 countries, has approximately 9,500 employees and is listed on the London Stock Exchange.