Henkels & McCoy
Delivering a Modern, End-to-End Financial Solution with Oracle Cloud EPM
Headquartered in Pennsylvania and founded in 1923, Henkels & McCoy, Inc., designs, builds and maintains infrastructure for the utility and communications markets. With a rich history of connecting the world’s strongest utility infrastructure networks. They have successfully designed and constructed millions of miles of safe, reliable, and world-class infrastructure for utility, commercial and government customers.
Challenges
H&M was using spreadsheets and legacy tools for reconciliation, consolidation and reporting for a complex organization structure spanning multiple divisions and lines of business. ArganoCSS implemented FCCS and ARCS to achieve a complete end-to-end financial close solution.
The ArganoCSS Approach
ArganoCSS knowledge of JDE financial structures was critical. H&M also considered Black Line but were diverted by ArganoCSS’s competitive knowledge and prior experience in the E&C industry.
Results
ArganoCSS implemented Cloud EPM Financial Consolidation & Close and Account Reconciliation to bring H&M automation where there were manual processes. Taking these processes out of Excel and into the Oracle Cloud provides shorter fiscal period close cycles, enterprise-wide visibility, consistency to the procedures, and sets a foundation for ongoing business process improvement. Ongoing support for FCCS and ARCS has transitioned into ArganoCSS’s existing support contract for H&M’s JDE, Cloud ERP and Cloud HCM systems. Future phases include expanding the automated reconciliation process to additional bank accounts and expanding the use of FCCS for operational management reporting.