ACME United Corporation is a leading worldwide manufacturer of cutting, measuring and safety products for school, home, office, hardware, sporting goods and industrial markets. Its leading brands include First Aid Only, Physicians Care, Pac-Kit, Spill Magic, Clauss and DMT.
Business Challenges
- Manual Process – The client’s monthly consolidation process included leveraging several manual Excel workbooks, leaving a sizeable amount of room for error in their external reporting, management reporting, and roll forward processes
- Transparency – With manual adjustments throughout the various Excel workbooks, the client lacked a centralized way to view all adjustments
Solution
- Out-of-the-Box Calculations – FCC provided automated FX translation calculations, intercompany eliminations, and consolidation of the entire organization
- Reporting – FCC provides consistency and controls, while accelerating the External and Management Report generation process
- Best Practice Capabilities – Peloton’s Fit-to-Modern methodology drove modern best practices into the future state solution and aligned Acme United Corporation with a single Consolidation model
- Virtual Delivery – Peloton leveraged their virtual delivery methodology and a team, disbursed globally, to successfully move Acme United Corporation to the Oracle Cloud
Impact
- Increased Consistency – With FCC, this client now has a centralized system to maintain a single reporting standard across several management and external reports
- Improved Efficiency – Eliminated manual processes related to FX translation, intercompany eliminations, and topside journal entries
- Enhanced Reporting – The client is now able to produce External Financials and Management Reports with substantially more control in a more streamlined manner
