Japanese electronics manufacturer, JVCKENWOOD Corporation, has standardised financial planning and analysis in order to increase productivity, reduce cost and improve controls.
It has worked with Oracle to incorporate Oracle Fusion Cloud Enterprise Resource Planning (ERP), including Oracle Fusion Cloud Enterprise Performance Management (EPM), into its processes.
JVCKENWOOD was founded in 2008 with the merger of Victor Company of Japan, Limited (JVC) and Kenwood Corporation.
The company said the merger resulted in multiple legacy business systems with manual processes and complicated interfaces, making it difficult for the management team to gain fast and accurate insights.
JVCKENWOOD Corporation’s Yoshio Sonoda said Oracle Cloud ERP helps standardise and automate finance processes on a single platform and provides the visibility and intelligence needed for more strategic decision-making.
Sonoda is JVCKENWOOD’s director, managing executive officer, chief technology officer, and chief information security officer.
"We have been working on a company-wide digital transformation to enhance operational processes, increase employee productivity, and maximise business margin,” said Sonoda.
The implementation was led by Oracle Japan's Consulting Team and IBM Japan.
Oracle Japan’s vice president of Cloud Applications, Hiroyuki Yoshinami, said with Cloud ERP, JVCKENWOOD can “improve productivity, drive continuous innovation and more effectively deliver the trusted products and services customers have come to expect”.
The partnership will help drive accurate, connected plans, and leverage predictive intelligence, scenario modelling, and built-in practices to navigate uncertainty across the business, the company said.