Banking

CEVA Logistics Improves Global Financial Reporting and Consolidation Processes

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Executive Summary

CEVA Logistics wanted to integrate two disparate, legacy consolidation and reporting systems following the company's merger with TNT Logistics and EGL Global Logistics (freight management and contract logistics companies) and improve the company's financial reporting and consolidation processes. The challenge was to implement an integrated consolidation and reporting tool within only six months. CEVA Logistics deployed Oracle's Hyperion Financial Management in only six months - on time and on budget - and rolled it out globally to more than 400 users, consolidating information from more than 240 entities and shortened the closing and consolidation procedures from four weeks to 10 days, enabling CEVA Logistics to report faster to shareholders and quickly react to financial developments.

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