CXO

Menzies Aviation Plc Consolidates Financial Management to Increase Reporting Quality and Speed

Date Added: Jul 2010
Format: PDF

Menzies Aviation wanted to streamline and simplify financial consolidation across 250 dispersed reporting centers, such as airports, cargo handling depots, and passenger terminals, with 30 General Ledgers (GLs) and increase timeliness, accuracy, quality, and granularity of management and board reporting and cut report preparation time. The challenge was to gain enterprisewide visibility to extract live, relevant, actionable intelligence for supporting budgeting and forecasting. Menzies Aviation replaced disparate, spreadsheet-based consolidating and reporting systems with Oracle's Hyperion Financial Management to automate financial reconciliation between the Business Unit (BU) and group level.