Industry – Manufacturing
Global Scale – $1.6B in Revenue
US HQ – Conyers, GA
Dedicated to the environment and sustainability, its customers and its people, Pratt Industries is America’s 5th Largest Corrugated Packaging Company and the world’s largest, privately-held 100% recycled paper and packaging company. Originating from Australia, Pratt Industries USA was founded in America about 20 years ago and has shown dramatic growth with sophisticated manufacturing facilities in more than 20 states.
The thought leadership at Pratt regarding the environment to “harvest the urban forest” was reflected in their IT strategy when Pratt became an early adopter of SAP HANA technology. The success of the company required strategic thinking within the business to evaluate and evolve their business processes to accommodate their growth and changing needs.
The demand for more effective and efficient business processes within finance to meet increasingly higher reporting demands by management with larger volumes of data posed and interesting opportunity. As with many companies, financial management processes such as budgeting, forecasting, flash reporting and statistical data collection were handled in Excel. Pratt was looking for an integrated solution that met three main criteria: It must integrate with the general ledger to reflect both structure and data changes, it must be easily adopted by the business and finance must be able to manage the process in the application with dependence on other resources.
“We now see our data as a strategic asset” said Steve Filreis, Director – SAP Program Management Office. “By managing our data and master data at a single source, we can provide consistent reporting throughout the enterprise. This promotes reliable management reporting and better customer service”. SAP BPC running on HANA was the obvious choice. Integrated with SAP ECC, BPC shows current actual balances.
Pratt selected VantagePoint as their strategic partner to adopt BPC to support the financial processes. VantagePoint brought implementation and business experience, product expertise and process insights to the table.
Working together as a team, the monthly flash and forecast reporting, financial consolidation and annual planning process are now easily managed by finance while automatically reflecting business changes as they are updated in SAP ECC. The excel interface provides staff across the enterprise with a familiar interface to effortlessly submit updates.
Putting the processes into a single application for finance to manage has provided a financial platform that will grow with the business.