An aggressive acquisition strategy by Foundation Building Materials (FBM) came with a cost: the company found itself saddled with siloed applications running in a fragmented IT environment that provided little visibility. Productivity suffered as the FP&A team had to manually access, import and export data across hundreds of Excel spreadsheets to measure and match daily sales to inventory at more than 200 branches.
Too much time spent, too few insights
Given the breadth and diversity of their operations, FBM's reporting requirements accedlerated, and Excel became a bottleneck obstructing management’s visibility into the business. Workers ranging from the finance team to warehouse supervisors needed accurate and, often, real-time reports spanning the full range of relevant operations.
“We would need an entire day to build out daily sales reports in Excel,” said Onur Demirkaya, Foundation Building Materials VP of Finance. Other times his team would spend up to four hours troubleshooting formulas gone awry. In each case, time that could have been spent analyzing results was spent gathering materials.
“Our finance team would spend a lot of time converting financial data to PDFs, only to get queries back from upper management concerning the details in each division's P&L report. For a company of our size, Excel was not the right reporting solution.” Demirkaya said. He went looking for something simple to use yet robust enough to scale.
A better reporting solution for a better financial foundation
Host Analytics emerged as the ideal reporting solution after a competitive review. “We needed a solution that our 300 users could adopt quickly. With Host Analytics, we got a tool that acts and behaves like an Excel spreadsheet; so, if you know how to drag and drop you can use the tool,” Demirkaya said, noting that reports which used to take days or hours are now completed in seconds.
Furthermore, FBM's successful adoption of Host Analytics will serve as a springboard to migrate other companies it plans to acquire. Its newfound unified data and business processes will enable it to quickly extract value from future acquisitions.
“With Host, we’re now able to integrate a new company into our reporting system within a day, including fully integrated financials. We’re moving faster than ever before and making good decisions along the way,” he added.
Finally, it’s finance not IT that owns the implementation. Regular consultations with the Host Analytics professional services team keeps data flowing and preserves a crucial connection with the company’s SX.e distribution management system, while providing assurance that FBM will never outgrow its EPM system the way it outgrew Excel.
“Host Analytics and its commitment to customer success is something that we experience every single day. Host actually listens to its customers and they make change happen,” Demirkaya said.
To learn more about how cloud-based EPM from Host Analytics can help your organization succeed, check out the customer video from Foundation Building Materials.