What is Remy International Inc.?
Headquartered in Indiana, Remy International is the leading provider of starters, alternators, and hybrid motors for the heavy duty and light duty original equipment market. Remy has facilities in 11 countries and four different continents around the world.
What was Remy’s need when they contacted Vertical Edge?
Remy was using Hyperion Enterprise for Consolidations and Financial Reporting. Oracle placed Hyperion Enterprise on sustaining support in April 2013 which required Remy to determine a strategy for a future Consolidation and Financial Reporting platform. Because of this, Remy sought a migration from Hyperion Enterprise to Hyperion Financial Management that would support existing functional requirements that were in place with Hyperion Enterprise at the time.
Additionally, Remy hoped to take advantage of Hyperion Financial Management’s new features and functionality where possible within the scope of the migration.
Why did Remy partner with VECG?
“Vertical Edge Consulting Group was chosen for several reasons. They had a successful track record for the type of migration and implementation that we were seeking. Additionally, they were approachable, easy to negotiate and plan with and willing to listen and customize the project to our very specific needs.” Holly Koch, Director of IT continued, “The final consideration was that they were able to work within our budgetary constraints. Choosing to partner with Vertical Edge on this project was an easy decision as they consistently provided highly customized solutions that were further backed up by quality work and delivering on their commitments.”
What did the project entail?
Vertical Edge set out to approach Hyperion Enterprise migration for Remy with a focus on meeting the existing functional requirements while implementing a solution that would take advantage of Financial Management’s additional robust features and functionality.
The project integrated HFM with the existing Remy solutions that integrated with Hyperion Enterprise: Metadata (DRM); Ledger Balances; Journal Loads; Map External / Non-GL Data (Ops Metric, Budget, Forecasting). Once this was in place, the Vertical Edge team set out to ensure that Remy personnel were trained and able to support the new consolidation solution.
What were the results?
The project was scheduled for a January 1st go-live with two months of parallels. The project went live without any delay.
The project came in slightly under the approved capex budget. The remaining funds were used for performance enhancements and additional administrative assistance provided by VECG upon request from Remy.
Minor additions to the original scope were made to accommodate several efficiencies requested by the Finance team. Remy worked with VECG to ensure that these additional deliverables did not affect the timing nor the cost of the project.
According to Koch, “Remy executive management openly described this implementation as ‘nearly flawless’ during post-implementation discussions”
Oracle Financial Close Solutions is composed of multiple modules. Remy was able to leverage the Financial Management module but also had room to scale to the other modules should their business demand additional solutions in the future.