Calculate and Adjust in Real Time for Non-Controlling Interest Percentages and Discontinued Operations

The Client

ParkOhio is an industrial supply chain logistics and diversified manufacturing business operating in three segments: Supply Technologies, Assembly Components, and Engineered Products. The company's businesses operate approximately 90 manufacturing, distribution, and service facilities, and employ approximately 6,000 people worldwide. Revenues totaled approximately $1.3 billion in 2016.

Business Issues

• Excel-based consolidation, budgeting, and reporting models feeding a corporate consolidation solution

• Labor-intensive data collection and report development processes

• Growth through acquisition and multiple systems and chart of accounts

• Increased internal and regulatory reporting requirements as public company

Longview Solution

• Planning, budgeting, and forecasting

• Consolidation

• Longview Integration Suite (LVIS)

• Design, development, and deployment advisory services

Benefits and Impact

• Implemented global Corporate consolidation application with sub-consolidation applications for five subsidiaries including RB&W, Supply Technologies, General Aluminum, Ajax Tacco, and Fluid Routing Systems

• Implemented standardized corporate planning solution and integrated Planning applications within subsidiaries

• Leveraged LVIS to automate data integration between multiple-source general ledgers and subsidiary and corporate Longview Consolidation solutions

• Improved speed of financial planning and close processes