Global manufacturer benefits from faster access to information and greater agility
Infor, provider of business application software, has announced that Norcros, a manufacturer of showers and bathroom accessories has implemented Infor Business Intelligence (BI) to consolidate its group reporting. Delivered on time and to budget, the new application will help deliver real-time financial updates, shorten budget process, enable instant reviews and facilitate integration of companies that Norcros acquires.
With operations in the UK, South Africa and Australia, Norcros is a leading manufacturer of showers and bathroom fittings and accessories with an annual turnover in excess of £210m. Norcros is owner of the Triton, Vado and Johnson Tiles brands. They aim to double revenue by 2018 via both acquisition and organic growth. Overseas revenue is targeted to remain at 50% of this figure.
Norcros produces consolidated management accounts based on IFRS but sought to accelerate its reporting processes including monthly, budget and year-end reporting. Infor BI enables this faster reporting by delivering consolidated information in real time, with centralised data accessed via a web browser. This will also enable instant review of the updated information. In addition, Infor BI provides for fully automated cash flow calculations and helps improve compliance by centralising any changes, making them effective at a group level rather than by country.
“We estimate that savings of circa two days per month have been achieved through the real-time access to updated information and automated cash flow facilitated by Infor BI,” commented Mukesh Duggal, group management accountant, Norcros plc. “But more than that, this change to our systems means we are better positioned for growth and able to support the Norcros strategy to build the business.”
“As economic recovery continues to strengthen, many manufacturers are now turning their eyes back to issues of growth,” said Bernie McHugh, Infor Consultancy Services. “This means they are looking to develop systems that are fast, agile and enable swift access to the most up-to-date information. This means flexible, innovative technology built on deep industry expertise is vital and Infor BI is set to deliver this to Norcros as it continues to grow internationally.”
“This implementation shows perfectly how Infor BI is breaking up the boundaries between traditional BI, analytics and performance management by applying just one integrated solution. With Infor BI serving as its technology platform, Infor plans to continue on this path with its unique Infor Dynamic Enterprise Performance Management (d/EPM) solution offering,” said Jan Gahde, Senior Product Manager, Infor BI.