Enhancing Financial Reporting with Prophix at Danby since 1947
Danby, operating since 1947, faced challenges in consolidating data from multiple ERPs, leading them to adopt Prophix over Cognos. The Prophix solution provided detailed sales reporting, customer and product profitability insights, and universal mapping for streamlined financial operations. By leveraging Prophix, Danby gained real-time visibility into profitability, leading to organizational restructuring for improved decision-making.
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Danby Prophix story Operating since: 1947 Head office: Guelph, Ontario Annual revenue: $60 million Number of employees: 100-199 G/L or ERP: Apprise Company website: www.danby.com Company background: Danby was founded in 1947, as a family owned manufacturer of small electrical appliances based in Guelph. Danby opened its U.S. office in Findlay, Ohio in 1992 as business expanded across North America. Danby s reputation as a leader in serving the appliance market has been achieved by producing innovative, quality products at competitive pricing. Business problems that lead to evaluating CPM, adopting Prophix: In selecting the Prophix solution we were chosen over Cognos. We participated in this deal with our Partner Inforica. Danby like our fit with their future vision and our proven track record of successful implementations. Data centralization and consolidation The client has 3 different instances of their ERP that don t talk to one another and have different accounting structures. Consolidation was not possible and pages of changes were required after their yearly audits.
Danby Prophix story Business problems that lead to evaluating CPM, adopting Prophix: Detailed sales reporting - due to the complexity of Apprise and high turnover, there wasn t an expert on how their sales was built up to the financial statement s total gross sales and cogs. Customer and product profitability due to the lack of insight into Sales and COGS data, there wasn t a way for the company to measure the profitability of their products and customers. Prophix solution: Finance cube, sales/COGS cube, KPI reporting, data consolidation Universal mapping and account structure after much discussion, the finance leaders were able to come to an agreement on a universal accounting structure so that they can use one cube for all companies. This also solved their problem of the users changing the mapping in one instance of Apprise and the others not knowing about it. One structure in one system! Detailed sales cube we built a SKU level sales cube that helped their sales management and category managers understand the profitability of their products, distribution lines and customers. Prior to Prophix they had no real time visibility into returns, and therefore the quality of their products. This cube has allowed their management to understand which customer contracts they need to re-negotiate and which products need more QA attention. Large value point: Prophix allows them to identify which products and customers are profitable. After the implementation, they reorganized their sales group from a customer basis to a product basis!
Supporting data: Life cycle New implementation YES Implementation date: Q1 2014 Preexisting customer Original implementation date: ________________ Existing customer, upgrading Original implementation date: ________________ Industry (choose all that apply) Agriculture, forestry, and fishing Professional services Financial services Retail Wholesale and distribution Telecommunications Healthcare Utilities Education Architecture, engineering, and construction Life science Transportation and logistics Manufacturing YES High tech Media and entertainment Government Non-profit
Supporting data: Solutions built Budgeting YES Forecasting YES Reporting YES Strategic planning Financial consolidation Analysis YES Profitability analysis YES Personnel planning Project planning Revenue planning YES Capabilities used Automation YES Prophix Mobile Data integration YES Business modeling YES Microsoft platform integration Role-based security YES Collaboration YES Flexible deployment Ad hoc reporting and visualization YES Capital expenditures planning YES Reporting and analytics YES (dashboards and scorecards)
Danby Chris Porter April 4, 2014
Danby Company Overview 65 Years Old Family Owned Company located in Guelph, ON Manufacturers of compact and midsize household appliances 2 in 1 Microwaves and Fridges Chest Freezers Wine Coolers ERP Apprise 150 Employees New President as of Jan 1
Danby Project Overview Models include: Financial (P&L, BS and CF) Consolidate into one cube, 3 different instances of their ERP (each with a different Accounting structure) Exchange Rate (2 currencies) SKU Level Sales and COGS Reporting/Planning Build up their financial statement total sales and cogs as the SKU Level
Danby Challenges & Risks No ERP expert onsite High Turnover in Finance (longest tenure = 6 months) 3 different databases, each with a different owner Since they were individual instances The rollups were different The 3 different owners didn t tell one another when they made changes ( How come this account got moved from last month? ) Account Types were different from one instance to the next (Exp vs Rev) Constant Offline Adjustments to ERP Reports Finance not booking expenses in their ERP until year end Pessimistic project sponsor We have been trying to do what you re doing for the last 10 years
Danby Solutions Stage their Database Tables on the Px Server Universal Account Mapping Many many meetings to discuss this and communicate the benefit of aligning all the companies Learn their ERP from top to bottom (Apprise) Since there wasn t an onsite expert, myself and their Accounting Supervisor taught ourselves how their ERP is structured (White Paper to Come) Book everything in your ERP and Prophix will always be 100% correct Detailed Validation for the Pessimists
Danby Lessons Learned Double Check the Truth Don t discount the possibility of colleagues on the same team not communicating with one another Constant Status Updates When you have a pessimistic sponsor, updates are calming File based Databases Transactions from multiple tables ultimately make up the final summary level $ Ensure there is an ERP expert onsite Luckily this project was long enough for us to learn their ERP. Kudos to Sandra on her time estimate.
