BACKGROUND: Boyd Corporation, headquartered in Modesto, California, is a leading custom fabricator of rubber, plastic, fiber and other resilient materials for OEMs in electronics, aerospace, transportation, medical, telecommunications and recreational markets.
PLATFORMS: Boyd runs CONTROL from KCI Computing on an HP P2- 450 Netserver with Windows NT 4.0 with a SQL 7 database.
PROBLEM SOLVED: Boyd Corporation's close and reporting process was manually intensive, took up to 15 days and the information was frequently inaccurate and inconsistent. In addition, Boyd Corporation had just acquired a company in South Carolina which had completely different financial systems. CONTROL enabled us to streamline our processes, readily link disparate sources, have reliable information and view it from any perspective and level of detail. It provides us with a range of functionality, such as modeling, forecasting, budgeting and reporting.
PRODUCT FUNCTIONALITY: The first application implemented was to support the close and reporting process for internal management information. The application extracts account data from the general ledger and uploads it into CONTROL. Once the data is imported, the reporting functionality of CONTROL allows flexible and consistent report generation from consolidated financial statements (P&L, balance sheet, cash flow) to divisional reporting to budget center reporting. The budget and forecasts are also stored in the database to allow comparison reporting at all levels. CONTROL's security features allow multiple users of the database without compromising the integrity of the database. The Excel interface allows reports to be presented with Excel formatting and graphics and to be distributed electronically. CONTROL's multi-dimensional structure provides different "slices" of data while insuring consistency. A future application supporting sales reporting will fully utilize CONTROL's multidimensional and data analysis functionality. The application will provide sales information by territory, customer type and product type. CONTROL's flexible data analysis functions such as drill down, ad hoc consolidations and data rotation features will provide detailed sales analysis capabilities.
STRENGTHS: CONTROL's multidimensional, multilevel database structure provides consistent cross-dimensional reporting and easy maintenance for growth and reorganizations. The dynamic consolidation capability allows ad hoc reporting and analysis without reprogramming or recalculating the database. A seamless Excel interface allows full Excel functionality once data is loaded, and multidimensional security features allow simultaneous access by many users. The ease of data imports allows data consolidation from multiple financial systems. CONTROL's costs, including hardware, are significantly less than competitors' solutions. End-users can develop CONTROL databases without specialized database knowledge.
WEAKNESSES: CONTROL's programming can be somewhat complex depending upon the application, and the custom view writer can be confusing to new users. The standard report menu is limited with only 10 standard views. CONTROL/Excel Release 7.1.0 does not support an Internet interface. However, the newest CONTROL release (version 8.0) does.
SELECTION CRITERIA: Boyd Corporation chose CONTROL because it is a total, flexible solution for all aspects of financial management; CONTROL's cost versus functionality is significantly better than other products considered; and CONTROL's Excel interface leverages our existing investment and facilitates user training and acceptance.
DELIVERABLES: For Boyd Corporation, CONTROL has decreased the close and reporting cycle by several days; improved the accuracy and consistency of management reports; and improved forecasting and budgeting process.
VENDOR SUPPORT: KCI Computing's support has been very good through all phases of implementation. They provide training, installation support, phone support and consulting services.
DOCUMENTATION: CONTROL comes with online and hard-copy documentation. It is complete and provides a good reference for experienced users and database administrators. New users will benefit from a basic understanding of the product's functionality prior to referencing the documentation.
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